SLM (NASDAQ:SLM) Sets New 52-Week High Following Analyst Upgrade

SLM Co. (NASDAQ:SLM - Get Free Report) shares reached a new 52-week high during trading on Tuesday after Barclays raised their price target on the stock from $34.00 to $38.00. Barclays currently has an overweight rating on the stock. SLM traded as high as $31.84 and last traded at $31.60, with a volume of 1499 shares trading hands. The stock had previously closed at $31.43.

Several other equities analysts also recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective on SLM from $30.00 to $32.00 and gave the company a "market perform" rating in a research note on Friday, January 24th. Wells Fargo & Company raised their price objective on SLM from $32.00 to $33.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Compass Point raised their price objective on SLM from $31.00 to $34.00 and gave the company a "buy" rating in a research note on Friday, January 24th. JPMorgan Chase & Co. raised their price objective on SLM from $29.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Finally, Royal Bank of Canada raised their price objective on SLM from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $30.91.

Insiders Place Their Bets

In other SLM news, Director Robert S. Strong sold 40,000 shares of the firm's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $28.57, for a total transaction of $1,142,800.00. Following the completion of the transaction, the director now owns 43,163 shares of the company's stock, valued at approximately $1,233,166.91. This trade represents a 48.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SLM

A number of hedge funds and other institutional investors have recently made changes to their positions in SLM. Creative Planning grew its position in shares of SLM by 5.3% in the third quarter. Creative Planning now owns 18,708 shares of the credit services provider's stock valued at $428,000 after purchasing an additional 942 shares during the period. Blue Trust Inc. grew its position in shares of SLM by 358.7% in the third quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider's stock valued at $32,000 after purchasing an additional 1,094 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of SLM by 294.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 51,248 shares of the credit services provider's stock valued at $1,172,000 after purchasing an additional 38,269 shares during the period. Waldron Private Wealth LLC purchased a new stake in shares of SLM in the third quarter valued at $31,000. Finally, International Assets Investment Management LLC grew its position in shares of SLM by 2,187.0% in the third quarter. International Assets Investment Management LLC now owns 66,254 shares of the credit services provider's stock valued at $1,515,000 after purchasing an additional 63,357 shares during the period. Hedge funds and other institutional investors own 98.94% of the company's stock.

SLM Stock Performance

The firm has a market cap of $6.51 billion, a PE ratio of 11.58, a P/E/G ratio of 0.87 and a beta of 1.22. The company has a debt-to-equity ratio of 3.37, a current ratio of 1.32 and a quick ratio of 1.27. The stock has a 50-day moving average price of $28.68 and a 200 day moving average price of $24.92.

SLM (NASDAQ:SLM - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The credit services provider reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.06). SLM had a net margin of 20.73% and a return on equity of 31.66%. Research analysts forecast that SLM Co. will post 3.07 earnings per share for the current year.

SLM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Wednesday, March 5th. SLM's payout ratio is currently 19.62%.

About SLM

SLM Corporation, through its subsidiaries, originates and services private education loans to students and their families to finance the cost of their education in the United States. It is also involved in the provision of retail deposit accounts, including certificates of deposit, money market accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.