Barclays Issues Positive Forecast for SLM (NASDAQ:SLM) Stock Price

SLM (NASDAQ:SLM) had its price target hoisted by Barclays from $34.00 to $38.00 in a report published on Tuesday,Benzinga reports. They currently have an overweight rating on the credit services provider’s stock.

Several other equities research analysts have also commented on SLM. Royal Bank of Canada upped their target price on SLM from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Morgan Stanley upped their target price on SLM from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods upped their target price on SLM from $30.00 to $32.00 and gave the company a “market perform” rating in a research report on Friday, January 24th. Compass Point upped their target price on SLM from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company upped their target price on SLM from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, SLM currently has an average rating of “Moderate Buy” and a consensus price target of $30.91.

SLM Price Performance

Shares of SLM opened at $32.54 on Tuesday. SLM has a 12-month low of $19.39 and a 12-month high of $32.60. The business has a 50-day simple moving average of $28.40 and a two-hundred day simple moving average of $24.75. The company has a quick ratio of 1.27, a current ratio of 1.32 and a debt-to-equity ratio of 3.37. The stock has a market cap of $6.91 billion, a PE ratio of 12.28, a PEG ratio of 0.81 and a beta of 1.22.

SLM (NASDAQ:SLM) last issued its earnings results on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.06). SLM had a return on equity of 31.66% and a net margin of 20.73%. Analysts anticipate that SLM will post 3.07 earnings per share for the current fiscal year.

SLM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.13 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.52 dividend on an annualized basis and a yield of 1.60%. SLM’s dividend payout ratio is presently 19.62%.

Insider Activity at SLM

In other news, Director Robert S. Strong sold 4,500 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 83,130 shares in the company, valued at $2,265,292.50. This represents a 5.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On SLM

Institutional investors have recently bought and sold shares of the business. Creative Planning boosted its holdings in shares of SLM by 5.3% during the 3rd quarter. Creative Planning now owns 18,708 shares of the credit services provider’s stock valued at $428,000 after purchasing an additional 942 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of SLM by 358.7% during the 3rd quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 1,094 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of SLM by 294.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 51,248 shares of the credit services provider’s stock valued at $1,172,000 after purchasing an additional 38,269 shares during the last quarter. Waldron Private Wealth LLC bought a new position in shares of SLM during the 3rd quarter valued at about $31,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of SLM by 2,187.0% during the 3rd quarter. International Assets Investment Management LLC now owns 66,254 shares of the credit services provider’s stock valued at $1,515,000 after purchasing an additional 63,357 shares during the last quarter. Hedge funds and other 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.