Brokerages Set SLM Co. (NASDAQ:SLM) PT at $27.27

Shares of SLM Co. (NASDAQ:SLM) have been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $27.27.

A number of research firms have recently weighed in on SLM. JPMorgan Chase & Co. raised their price target on shares of SLM from $24.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Barclays lowered their target price 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. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $30.00 price target (up previously from $27.00) on shares of SLM in a research report on Monday, December 9th. Morgan Stanley increased their price objective on SLM from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Finally, Bank of America assumed coverage on SLM in a report on Wednesday, September 25th. They issued a “buy” rating and a $27.00 target price for the company.

Insider Activity

In other SLM news, Director Robert S. Strong sold 4,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $27.25, for a total transaction of $122,625.00. Following the transaction, the director now owns 83,130 shares in the company, valued at approximately $2,265,292.50. This trade represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its holdings in SLM by 0.6% during the 3rd quarter. State Street Corp now owns 6,923,576 shares of the credit services provider’s stock worth $158,342,000 after purchasing an additional 43,927 shares in the last quarter. Quest Partners LLC acquired a new position in shares of SLM during the third quarter worth about $623,000. Texas Permanent School Fund Corp grew its holdings in shares of SLM by 50.7% during the second quarter. Texas Permanent School Fund Corp now owns 290,636 shares of the credit services provider’s stock worth $6,042,000 after buying an additional 97,832 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in SLM in the 3rd quarter valued at approximately $3,250,000. Finally, Advantage Alpha Capital Partners LP lifted its stake in SLM by 62.9% in the 3rd quarter. Advantage Alpha Capital Partners LP now owns 177,840 shares of the credit services provider’s stock valued at $4,067,000 after acquiring an additional 68,642 shares in the last quarter. 98.94% of the stock is owned by institutional investors and hedge funds.

SLM Price Performance

Shares of NASDAQ:SLM opened at $28.17 on Wednesday. The company’s fifty day moving average is $25.76 and its two-hundred day moving average is $23.12. The company has a market cap of $5.98 billion, a P/E ratio of 9.82, a price-to-earnings-growth ratio of 0.85 and a beta of 1.21. SLM has a 12-month low of $18.04 and a 12-month high of $28.74. The company has a quick ratio of 1.27, a current ratio of 1.29 and a debt-to-equity ratio of 3.21.

SLM (NASDAQ:SLM) last released its earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.30). SLM had a net margin of 22.18% and a return on equity of 35.92%. The business had revenue of $652.64 million for the quarter, compared to analysts’ expectations of $363.40 million. During the same period last year, the firm earned $0.11 EPS. Equities analysts expect that SLM will post 2.73 earnings per share for the current fiscal year.

SLM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Thursday, December 5th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.85%. This is a positive change from SLM’s previous quarterly dividend of $0.11. The ex-dividend date was Thursday, December 5th. SLM’s dividend payout ratio (DPR) is presently 18.12%.

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.