SLM (NASDAQ:SLMBP) Shares Climb 0.3% – What’s Next?

SLM Co. (NASDAQ:SLMBP)’s stock price rose 0.3% during mid-day trading on Wednesday. The stock traded as high as $67.13 and last traded at $67.13. Approximately 1,611 shares were traded during mid-day trading, a decline of 51% from the average session volume of 3,317 shares. The stock had previously closed at $66.96.

Analyst Ratings Changes

Separately, Morgan Stanley restated an “overweight” rating on shares of SLM in a research note on Friday, October 23rd. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $40.00.

SLM Price Performance

The firm has a 50 day moving average of $72.33 and a two-hundred day moving average of $74.16.

SLM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Friday, December 4th will be issued a $1.4940 dividend. This represents a $5.98 annualized dividend and a yield of 8.9%. This is a positive change from SLM’s previous quarterly dividend of $1.4393. The ex-dividend date of this dividend is Friday, December 4th.

About SLM

SLM Corporation, commonly known as Sallie Mae, is a U.S. education finance company. Through Sallie Mae Bank, it primarily originates and services private student loans that help students and families pay for college and graduate school. The company also offers consumer banking products, including savings accounts and certificates of deposit. Its services are available to customers across the United States. Founded in 1972 as the Student Loan Marketing Association, Sallie Mae became a fully private company in 2004.