SLM Co. (NASDAQ:SLM) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its position in SLM Co. (NASDAQ:SLM) by 8.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,781 shares of the credit services provider’s stock after purchasing an additional 1,311 shares during the period. PNC Financial Services Group Inc.’s holdings in SLM were worth $340,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. grew its position in shares of SLM by 81.4% in the fourth quarter. Blue Trust Inc. now owns 1,328 shares of the credit services provider’s stock valued at $25,000 after purchasing an additional 596 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in SLM during the fourth quarter worth $29,000. Neo Ivy Capital Management acquired a new position in shares of SLM in the fourth quarter worth $40,000. Headlands Technologies LLC lifted its position in shares of SLM by 46.4% in the fourth quarter. Headlands Technologies LLC now owns 2,330 shares of the credit services provider’s stock valued at $45,000 after acquiring an additional 739 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of SLM by 39.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,976 shares of the credit services provider’s stock valued at $57,000 after acquiring an additional 843 shares during the last quarter. 98.94% of the stock is currently owned by hedge funds and other institutional investors.

SLM Price Performance

SLM stock opened at $20.79 on Friday. The firm has a fifty day moving average of $21.06 and a 200-day moving average of $20.34. SLM Co. has a 52-week low of $12.26 and a 52-week high of $22.74. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 2.67. The firm has a market capitalization of $4.57 billion, a P/E ratio of 6.50, a PEG ratio of 0.41 and a beta of 1.16.

SLM (NASDAQ:SLM) last announced its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.18. The firm had revenue of $837.72 million during the quarter, compared to the consensus estimate of $376.43 million. SLM had a return on equity of 45.65% and a net margin of 25.15%. During the same period in the prior year, the firm earned $0.47 EPS. As a group, analysts predict that SLM Co. will post 2.76 EPS for the current year.

SLM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Thursday, June 6th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.12%. The ex-dividend date was Thursday, June 6th. SLM’s dividend payout ratio (DPR) is 13.75%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SLM. Wells Fargo & Company raised their price target on shares of SLM from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. TD Cowen boosted their price target on SLM from $25.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Wedbush restated an “outperform” rating and set a $28.00 price objective on shares of SLM in a report on Thursday, May 16th. Royal Bank of Canada upped their target price on SLM from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. raised their price target on SLM from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, SLM currently has an average rating of “Moderate Buy” and a consensus price target of $22.18.

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.