SLM (NASDAQ:SLM) Shares Gap Up Following Analyst Upgrade

SLM Co. (NASDAQ:SLM - Get Free Report)'s share price gapped up prior to trading on Friday after Royal Bank of Canada raised their price target on the stock from $30.00 to $32.00. The stock had previously closed at $29.30, but opened at $30.64. Royal Bank of Canada currently has an outperform rating on the stock. SLM shares last traded at $29.90, with a volume of 898,280 shares trading hands.

Several other research analysts also recently commented on the company. Wedbush reissued an "outperform" rating and set a $26.00 target price on shares of SLM in a research note on Thursday, October 24th. Compass Point boosted their target price on SLM from $31.00 to $34.00 and gave the stock a "buy" rating in a research note on Friday. JPMorgan Chase & Co. boosted their target price on SLM from $29.00 to $30.00 and gave the stock a "neutral" rating in a research note on Friday. Barclays lowered their target price on SLM from $27.00 to $26.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Finally, Wells Fargo & Company boosted their target price on SLM from $32.00 to $33.00 and gave the stock an "overweight" rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, SLM presently has an average rating of "Moderate Buy" and an average target price of $29.82.

Insider Activity at SLM

In related news, Director Robert S. Strong sold 4,500 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $27.25, for a total value of $122,625.00. Following the sale, the director now directly owns 83,130 shares in the company, valued at $2,265,292.50. This represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SLM

A number of institutional investors and hedge funds have recently modified their holdings of SLM. Waldron Private Wealth LLC bought a new position in shares of SLM during the 3rd quarter worth approximately $31,000. True Wealth Design LLC bought a new position in shares of SLM during the 3rd quarter worth approximately $31,000. Blue Trust Inc. boosted its holdings in shares of SLM by 358.7% during the 3rd quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider's stock worth $32,000 after buying an additional 1,094 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of SLM during the 3rd quarter worth approximately $35,000. Finally, Covestor Ltd boosted its holdings in shares of SLM by 110.3% during the 3rd quarter. Covestor Ltd now owns 4,404 shares of the credit services provider's stock worth $101,000 after buying an additional 2,310 shares in the last quarter. 98.94% of the stock is currently owned by institutional investors.

SLM Price Performance

The stock has a market capitalization of $6.16 billion, a P/E ratio of 10.11, a PEG ratio of 0.79 and a beta of 1.21. The business has a fifty day simple moving average of $27.18 and a 200-day simple moving average of $23.83. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.27 and a current ratio of 1.29.

SLM (NASDAQ:SLM - Get Free Report) last issued its earnings results on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.06). SLM had a return on equity of 35.92% and a net margin of 22.18%. Sell-side analysts expect that SLM Co. will post 2.72 earnings per share for the current fiscal year.

SLM Announces Dividend

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 dividend yield of 1.79%. The ex-dividend date of this dividend is Wednesday, March 5th. SLM's dividend payout ratio is currently 18.12%.

SLM Company Profile

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.