SLM (NASDAQ:SLM) Given New $34.00 Price Target at Compass Point

SLM (NASDAQ:SLM - Free Report) had its price objective lifted by Compass Point from $31.00 to $34.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the credit services provider's stock.

Other research analysts have also issued research reports about the company. Royal Bank of Canada reiterated an "outperform" rating and set a $26.00 price target on shares of SLM in a report on Thursday, October 24th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $30.00 target price (up from $27.00) on shares of SLM in a report on Monday, December 9th. Morgan Stanley increased their price target on shares of SLM from $26.00 to $32.00 and gave the company an "overweight" rating in a research note on Thursday, December 19th. Barclays reduced their price target on shares of SLM from $27.00 to $26.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. increased their price objective on SLM from $27.00 to $29.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $29.82.

SLM Price Performance

SLM traded down $0.29 on Friday, reaching $29.01. 5,580,619 shares of the company's stock were exchanged, compared to its average volume of 2,886,175. SLM has a twelve month low of $18.84 and a twelve month high of $31.49. The stock has a market cap of $6.16 billion, a PE ratio of 10.11, a P/E/G ratio of 0.79 and a beta of 1.21. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.29 and a quick ratio of 1.27. The stock's fifty day moving average price is $27.18 and its 200-day moving average price is $23.83.

SLM (NASDAQ:SLM - Get Free Report) last posted its quarterly 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 net margin of 22.18% and a return on equity of 35.92%. Sell-side analysts expect that SLM will post 2.72 EPS for the current year.

SLM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Wednesday, March 5th. SLM's payout ratio is currently 18.12%.

Insider Activity at SLM

In other news, Director Robert S. Strong sold 4,500 shares of the firm's stock in a transaction on Monday, December 2nd. The shares were 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 approximately $2,265,292.50. This trade represents a 5.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SLM

Several large investors have recently bought and sold shares of the business. True Wealth Design LLC purchased a new position in shares of SLM in the 3rd quarter valued at $31,000. Waldron Private Wealth LLC acquired a new position in SLM in the third quarter valued at $31,000. Blue Trust Inc. grew its holdings in shares of SLM by 358.7% during the third quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider's stock worth $32,000 after purchasing an additional 1,094 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of SLM during the third quarter worth about $35,000. Finally, Covestor Ltd lifted its holdings in shares of SLM by 110.3% in the 3rd quarter. Covestor Ltd now owns 4,404 shares of the credit services provider's stock valued at $101,000 after purchasing an additional 2,310 shares during the last quarter. Hedge funds and other institutional investors own 98.94% of the company's stock.

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.