SLM (NASDAQ:SLM) Reaches New 52-Week High at $21.79

Shares of SLM Co. (NASDAQ:SLM) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $21.79 and last traded at $21.68, with a volume of 49681 shares. The stock had previously closed at $21.60.

Analyst Ratings Changes

SLM has been the subject of several research analyst reports. Wedbush raised their price target on shares of SLM from $18.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 13th. Wells Fargo & Company raised shares of SLM from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $14.00 to $20.00 in a report on Friday, December 8th. Citigroup raised shares of SLM from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $23.00 in a report on Tuesday, January 16th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $20.00 price objective (up from $18.00) on shares of SLM in a report on Thursday, January 4th. Finally, Stephens raised their price objective on shares of SLM from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 13th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, SLM has a consensus rating of “Moderate Buy” and an average price target of $19.77.

SLM Price Performance

The business’s 50-day simple moving average is $20.20 and its 200-day simple moving average is $17.10. The stock has a market cap of $4.81 billion, a PE ratio of 9.00, a PEG ratio of 0.44 and a beta of 1.16. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 3.21.

SLM (NASDAQ:SLM) last announced its quarterly earnings results on Tuesday, January 30th. The credit services provider reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.15). SLM had a net margin of 20.65% and a return on equity of 36.86%. The company had revenue of $725.66 million for the quarter, compared to analysts’ expectations of $379.20 million. During the same quarter in the prior year, the firm earned ($0.33) EPS. On average, research analysts expect that SLM Co. will post 2.66 EPS for the current fiscal year.

SLM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.44 annualized dividend and a dividend yield of 2.02%. SLM’s dividend payout ratio is presently 18.33%.

SLM declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 24th that permits the company to repurchase $650.00 million in outstanding shares. This repurchase authorization permits the credit services provider to reacquire up to 14.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Transactions at SLM

In related news, EVP Donna F. Vieira sold 12,308 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $20.27, for a total transaction of $249,483.16. Following the transaction, the executive vice president now owns 126,500 shares in the company, valued at $2,564,155. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other SLM news, SVP Jonathan Boyles sold 94,078 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $20.72, for a total transaction of $1,949,296.16. Following the completion of the sale, the senior vice president now directly owns 52,751 shares of the company’s stock, valued at $1,093,000.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Donna F. Vieira sold 12,308 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $20.27, for a total transaction of $249,483.16. Following the sale, the executive vice president now directly owns 126,500 shares of the company’s stock, valued at $2,564,155. The disclosure for this sale can be found here. Insiders own 0.91% of the company’s stock.

Institutional Trading of SLM

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP bought a new position in SLM during the third quarter valued at $713,000. Comerica Bank bought a new position in SLM during the second quarter valued at $9,029,000. DekaBank Deutsche Girozentrale lifted its position in SLM by 25.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 155,595 shares of the credit services provider’s stock valued at $2,092,000 after purchasing an additional 31,595 shares during the last quarter. New York State Common Retirement Fund lifted its position in SLM by 31.2% during the third quarter. New York State Common Retirement Fund now owns 684,103 shares of the credit services provider’s stock valued at $9,317,000 after purchasing an additional 162,853 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of SLM by 112.6% in the 2nd quarter. US Bancorp DE now owns 6,038 shares of the credit services provider’s stock worth $99,000 after acquiring an additional 3,198 shares during the last quarter. 98.94% of the stock is owned by hedge funds and other institutional investors.

SLM Company Profile

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.