Amalgamated Bank Has $2.79 Million Stake in SLM Co. (NASDAQ:SLM)

Amalgamated Bank lowered its holdings in shares of SLM Co. (NASDAQ:SLM) by 5.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,211 shares of the credit services provider’s stock after selling 7,827 shares during the quarter. Amalgamated Bank owned 0.06% of SLM worth $2,790,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. SYSTM Wealth Solutions LLC increased its holdings in SLM by 37.0% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 1,828 shares of the credit services provider’s stock worth $40,000 after purchasing an additional 494 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of SLM by 3.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,959 shares of the credit services provider’s stock worth $478,000 after buying an additional 664 shares in the last quarter. Neuberger Berman Group LLC raised its position in SLM by 3.0% in the 4th quarter. Neuberger Berman Group LLC now owns 26,541 shares of the credit services provider’s stock valued at $507,000 after buying an additional 772 shares during the last quarter. Quadrant Capital Group LLC raised its position in SLM by 39.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,976 shares of the credit services provider’s stock valued at $57,000 after buying an additional 843 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in SLM by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 99,739 shares of the credit services provider’s stock worth $1,907,000 after acquiring an additional 970 shares during the last quarter. Institutional investors own 98.94% of the company’s stock.

Insider Activity at SLM

In other SLM news, Director Robert S. Strong sold 4,500 shares of the stock in a transaction 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 transaction, the director now owns 101,093 shares in the company, valued at approximately $2,294,811.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of SLM from $25.00 to $27.00 and gave the company an “outperform” rating in a report 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 report on Friday, July 26th. JPMorgan Chase & Co. raised their price objective on SLM from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. TD Cowen upped their target price on SLM from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Finally, Royal Bank of Canada increased their price target on SLM from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, SLM presently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

SLM Stock Performance

Shares of SLM stock opened at $22.07 on Tuesday. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.26 and a quick ratio of 1.26. The business has a fifty day simple moving average of $21.58 and a two-hundred day simple moving average of $21.25. SLM Co. has a 1 year low of $12.26 and a 1 year high of $23.95. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 6.90, a P/E/G ratio of 0.41 and a beta of 1.15.

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

SLM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.44 annualized dividend and a yield of 1.99%. SLM’s payout ratio is currently 13.75%.

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.