JPMorgan Chase & Co. Reaffirms “Underweight” Rating for SLM (NASDAQ:SLM)

SLM (NASDAQ:SLM)‘s stock had its “underweight” rating reiterated by research analysts at JPMorgan Chase & Co. in a research note issued to investors on Monday, Marketbeat.com reports. They currently have a $25.00 price target on the credit services provider’s stock, down from their previous price target of $29.00. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 9.45% from the stock’s current price.

SLM has been the subject of a number of other research reports. Compass Point cut SLM from a “buy” rating to a “sell” rating and dropped their price objective for the company from $35.00 to $23.00 in a report on Tuesday, December 9th. TD Cowen lifted their target price on SLM from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Deutsche Bank Aktiengesellschaft set a $37.00 price target on shares of SLM in a report on Wednesday, December 10th. Wall Street Zen raised shares of SLM from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Zacks Research lowered shares of SLM from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $31.20.

SLM Stock Performance

SLM stock opened at $27.61 on Monday. The company has a debt-to-equity ratio of 3.27, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market capitalization of $5.61 billion, a P/E ratio of 9.69, a price-to-earnings-growth ratio of 1.16 and a beta of 1.12. SLM has a 1-year low of $23.81 and a 1-year high of $34.97. The company’s 50-day moving average is $27.80 and its 200 day moving average is $29.34.

SLM (NASDAQ:SLM) last announced its earnings results on Monday, February 14th. The credit services provider reported $1.15 earnings per share (EPS) for the quarter. The business had revenue of ($3.44) million during the quarter. SLM had a return on equity of 30.13% and a net margin of 21.76%. Research analysts forecast that SLM will post 3.07 EPS for the current year.

Institutional Trading of SLM

A number of hedge funds have recently added to or reduced their stakes in SLM. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in SLM by 0.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,802,829 shares of the credit services provider’s stock valued at $52,949,000 after purchasing an additional 12,264 shares during the period. Strs Ohio bought a new position in shares of SLM during the first quarter valued at approximately $1,472,000. MorganRosel Wealth Management LLC bought a new position in shares of SLM during the third quarter valued at approximately $1,131,000. Meritage Portfolio Management increased its holdings in SLM by 2.8% during the second quarter. Meritage Portfolio Management now owns 16,780 shares of the credit services provider’s stock valued at $550,000 after buying an additional 464 shares during the period. Finally, Longboard Asset Management LP bought a new position in SLM in the second quarter worth approximately $207,000. 98.94% of the stock is owned by hedge funds and other institutional investors.

About SLM

SLM Corporation, operating as Sallie Mae Bank, is a leading U.S.-based consumer banking company specializing in education financing and related banking products. The company provides a range of private student loans for undergraduate and graduate studies, Parent PLUS loans, and specialized financing for career and certificate programs. In addition to its core lending services, Sallie Mae offers deposit products including savings accounts, checking accounts, money market accounts, certificates of deposit, and credit cards tailored to students and young adults.

Founded in 1972 as the Student Loan Marketing Association—a government-sponsored enterprise—Sallie Mae was privatized in 2004 and has since focused on expanding its private education loan offerings and digital banking solutions.