SLM (NASDAQ:SLM) Coverage Initiated by Analysts at Bank of America

Stock analysts at Bank of America started coverage on shares of SLM (NASDAQ:SLM) in a research note issued on Wednesday, MarketBeat reports. The firm set a “buy” rating and a $27.00 price target on the credit services provider’s stock. Bank of America‘s target price suggests a potential upside of 25.41% from the company’s previous close.

SLM has been the topic of several other research reports. Keefe, Bruyette & Woods raised their price target on SLM from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their target price on shares of SLM from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Wells Fargo & Company boosted their price target on shares of SLM from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Royal Bank of Canada raised their price objective on shares of SLM from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. lifted their target price on shares of SLM from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

SLM Trading Down 2.4 %

Shares of NASDAQ SLM opened at $21.53 on Wednesday. SLM has a 1-year low of $12.26 and a 1-year high of $23.95. The company has a 50-day moving average of $21.53 and a two-hundred day moving average of $21.26. The company has a market cap of $4.68 billion, a PE ratio of 6.73, a P/E/G ratio of 0.43 and a beta of 1.15. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 2.66.

SLM (NASDAQ:SLM) last posted its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.32. The firm had revenue of $783.28 million during the quarter, compared to analysts’ expectations of $368.97 million. SLM had a net margin of 24.67% and a return on equity of 41.84%. During the same quarter in the previous year, the company posted $1.10 EPS. As a group, equities analysts expect that SLM will post 2.83 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert S. Strong sold 4,500 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $22.70, for a total transaction of $102,150.00. Following the completion of the sale, the director now directly owns 101,093 shares of the company’s stock, valued at approximately $2,294,811.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SLM

Several large investors have recently made changes to their positions in SLM. Hexagon Capital Partners LLC lifted its position in SLM by 1,373.3% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,326 shares of the credit services provider’s stock valued at $29,000 after acquiring an additional 1,236 shares in the last quarter. SYSTM Wealth Solutions LLC lifted its holdings in shares of SLM by 37.0% in the first quarter. SYSTM Wealth Solutions LLC now owns 1,828 shares of the credit services provider’s stock valued at $40,000 after purchasing an additional 494 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of SLM during the fourth quarter worth about $40,000. International Assets Investment Management LLC acquired a new position in shares of SLM during the second quarter worth about $60,000. Finally, Quarry LP grew its holdings in shares of SLM by 78.6% during the fourth quarter. Quarry LP now owns 2,962 shares of the credit services provider’s stock worth $57,000 after buying an additional 1,304 shares in the last quarter. 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.