SLM Corporation (NASDAQ:SLM)‘s stock had its “hold” rating reiterated by equities researchers at BMO Capital Markets in a report released on Friday, October 6th. They currently have a $12.00 price objective on the credit services provider’s stock. BMO Capital Markets’ price target indicates a potential upside of 6.57% from the company’s current price.
Several other equities analysts have also recently commented on the stock. BidaskClub raised shares of SLM Corporation from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 28th. Zacks Investment Research raised shares of SLM Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. FBR & Co reissued a “buy” rating and set a $13.00 target price on shares of SLM Corporation in a research note on Tuesday, September 19th. Wedbush reissued an “outperform” rating and set a $14.50 target price on shares of SLM Corporation in a research note on Thursday, September 14th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $15.00 target price on shares of SLM Corporation in a research note on Saturday, July 22nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $13.44.
SLM Corporation (NASDAQ SLM) opened at 11.26 on Friday. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 18.16 and a beta of 1.25. The stock’s 50 day moving average is $10.82 and its 200-day moving average is $11.13. SLM Corporation has a 52 week low of $6.93 and a 52 week high of $13.20.
SLM Corporation (NASDAQ:SLM) last issued its quarterly earnings data on Wednesday, July 19th. The credit services provider reported $0.16 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.16. The firm had revenue of $269.89 million for the quarter, compared to the consensus estimate of $268.69 million. SLM Corporation had a net margin of 22.81% and a return on equity of 16.31%. SLM Corporation’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same period last year, the firm posted $0.12 EPS. On average, equities research analysts expect that SLM Corporation will post $0.72 EPS for the current year.
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Institutional investors and hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its stake in shares of SLM Corporation by 44.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 8,438 shares of the credit services provider’s stock worth $102,000 after purchasing an additional 2,578 shares during the last quarter. HighTower Advisors LLC acquired a new position in shares of SLM Corporation in the 1st quarter worth approximately $125,000. Cadence Capital Management LLC grew its stake in shares of SLM Corporation by 0.5% in the 1st quarter. Cadence Capital Management LLC now owns 15,538 shares of the credit services provider’s stock worth $188,000 after purchasing an additional 81 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of SLM Corporation in the 1st quarter worth approximately $189,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of SLM Corporation in the 1st quarter worth approximately $392,000. 98.40% of the stock is currently owned by institutional investors.
About SLM Corporation
SLM Corporation (Sallie Mae) is the nation’s saving, planning, and paying for college company. Sallie Mae offers products, which promote personal finance including private education loans, Upromise rewards, scholarship search, college financial planning tools, insurance, and online retail banking.
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