Analysts Set SLM Co. (NASDAQ:SLM) Price Target at $30.91

SLM Co. (NASDAQ:SLM) has earned an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $30.91.

A number of research firms have recently weighed in on SLM. Wells Fargo & Company raised their target price on SLM from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Keefe, Bruyette & Woods raised their target price on SLM from $30.00 to $32.00 and gave the stock a “market perform” rating in a research report on Friday, January 24th. Barclays raised their target price on SLM from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Compass Point raised their target price on SLM from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. raised their target price on SLM from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th.

SLM Trading Down 4.2 %

Shares of SLM stock opened at $30.68 on Thursday. The firm has a market capitalization of $6.51 billion, a P/E ratio of 11.58, a P/E/G ratio of 0.86 and a beta of 1.22. SLM has a twelve month low of $19.39 and a twelve month high of $32.65. 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’s fifty day simple moving average is $28.68 and its 200 day simple moving average is $24.96.

SLM (NASDAQ:SLM) last released its quarterly earnings results 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 net margin of 20.73% and a return on equity of 31.66%. As a group, sell-side analysts predict that SLM will post 3.07 EPS for the current fiscal year.

SLM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.69%. The ex-dividend date is Wednesday, March 5th. SLM’s dividend payout ratio is 19.62%.

Insider Activity at SLM

In related news, Director Robert S. Strong sold 40,000 shares of SLM stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $28.57, for a total transaction of $1,142,800.00. Following the completion of the sale, the director now owns 43,163 shares of the company’s stock, valued at approximately $1,233,166.91. This trade represents a 48.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SLM

Several hedge funds have recently added to or reduced their stakes in SLM. Capital Research Global Investors bought a new stake in SLM during the fourth quarter worth about $144,101,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in SLM during the fourth quarter worth about $140,442,000. T. Rowe Price Investment Management Inc. bought a new stake in SLM during the fourth quarter worth about $76,362,000. Duquesne Family Office LLC bought a new stake in SLM during the fourth quarter worth about $69,509,000. Finally, Norges Bank purchased a new stake in SLM during the 4th quarter valued at about $68,603,000. 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.