Royal Bank of Canada Forecasts Strong Price Appreciation for SLM (NASDAQ:SLM) Stock

SLM (NASDAQ:SLM) had its target price hoisted by research analysts at Royal Bank of Canada from $30.00 to $32.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the credit services provider’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 10.31% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley raised their price objective 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. Wells Fargo & Company boosted their target price on SLM from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday. Keefe, Bruyette & Woods increased their price objective on shares of SLM from $30.00 to $32.00 and gave the stock a “market perform” rating in a research report on Friday. Barclays reduced their price objective on SLM from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Compass Point upped their price target on SLM from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.82.

SLM Stock Performance

NASDAQ:SLM opened at $29.01 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.29 and a debt-to-equity ratio of 3.21. The firm has a 50-day moving average price of $27.27 and a 200 day moving average price of $23.91. The firm has a market capitalization of $6.16 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.79 and a beta of 1.21. SLM has a 12-month low of $18.84 and a 12-month high of $31.49.

SLM (NASDAQ:SLM) last posted its earnings results on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.06). SLM had a return on equity of 35.92% and a net margin of 22.18%. Research analysts anticipate that SLM will post 2.72 earnings per share for the current fiscal year.

Insider Buying and Selling at SLM

In other SLM news, Director Robert S. Strong sold 4,500 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $27.25, for a total value of $122,625.00. Following the completion of the transaction, the director now owns 83,130 shares of the company’s stock, valued at $2,265,292.50. This represents a 5.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On SLM

Several hedge funds have recently added to or reduced their stakes in the business. Waldron Private Wealth LLC bought a new stake in shares of SLM in the third quarter worth $31,000. True Wealth Design LLC bought a new stake in shares of SLM in the 3rd quarter valued at $31,000. Blue Trust Inc. grew its holdings in SLM by 358.7% during the 3rd quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 1,094 shares during the period. Capital Performance Advisors LLP acquired a new stake in SLM during the 3rd quarter worth about $35,000. Finally, Covestor Ltd raised its position 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 worth $101,000 after acquiring an additional 2,310 shares in the last quarter. 98.94% of the stock is currently owned by institutional investors and hedge funds.

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.