Compass Point Boosts SLM (NASDAQ:SLM) Price Target to $34.00

SLM (NASDAQ:SLM) had its price target increased by analysts at Compass Point from $31.00 to $34.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the credit services provider’s stock. Compass Point’s price target indicates a potential upside of 17.20% from the stock’s previous close.

Several other research firms have also weighed in on SLM. Morgan Stanley boosted their price target on SLM from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $30.00 price objective (up previously from $27.00) on shares of SLM in a research report on Monday, December 9th. JPMorgan Chase & Co. raised their target price on shares of SLM from $27.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Royal Bank of Canada reissued an “outperform” rating and set a $26.00 price target on shares of SLM in a research report on Thursday, October 24th. Finally, Barclays reduced 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. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.82.

SLM Stock Down 1.0 %

Shares of SLM stock opened at $29.01 on Friday. SLM has a 52-week low of $18.84 and a 52-week high of $31.49. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.27 and a current ratio of 1.29. The business’s 50 day simple moving average is $27.27 and its 200 day simple moving average is $23.91. The firm 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.

SLM (NASDAQ:SLM) last announced its quarterly earnings data on Thursday, January 23rd. The credit services provider reported $0.50 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%. On average, analysts predict that SLM will post 2.72 earnings per share for the current fiscal year.

Insider Transactions at SLM

In other news, Director Robert S. Strong sold 4,500 shares of SLM 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 sale, the director now directly owns 83,130 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On SLM

Several large investors have recently modified their holdings of the business. State Street Corp raised its position 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 during the last quarter. Geode Capital Management LLC boosted its holdings in SLM by 7.5% in the third quarter. Geode Capital Management LLC now owns 4,762,328 shares of the credit services provider’s stock valued at $108,936,000 after acquiring an additional 331,490 shares during the last quarter. Assenagon Asset Management S.A. increased its position in SLM by 3,800.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,406,384 shares of the credit services provider’s stock valued at $55,034,000 after purchasing an additional 2,344,691 shares during the period. Millennium Management LLC raised its holdings in SLM by 107.1% during the 2nd quarter. Millennium Management LLC now owns 2,366,642 shares of the credit services provider’s stock worth $49,202,000 after purchasing an additional 1,224,015 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of SLM by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,758,057 shares of the credit services provider’s stock valued at $40,207,000 after purchasing an additional 15,252 shares during 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.