SLM Corporation (SLM) to Issue Quarterly Dividend of $0.13 on December 15th

SLM Corporation (NASDAQ:SLM) declared a quarterly dividend on Wednesday, October 22nd. Shareholders of record on Thursday, December 4th will be paid a dividend of 0.13 per share by the credit services provider on Monday, December 15th. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date is Thursday, December 4th.

SLM has a dividend payout ratio of 15.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect SLM to earn $3.34 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 15.6%.

SLM Stock Down 1.0%

Shares of SLM stock opened at $26.73 on Friday. The company has a debt-to-equity ratio of 3.02, a current ratio of 1.35 and a quick ratio of 1.35. SLM has a 1 year low of $21.10 and a 1 year high of $34.97. The firm’s 50-day moving average is $28.65 and its two-hundred day moving average is $30.46. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 0.77 and a beta of 1.11.

SLM (NASDAQ:SLM) last issued its quarterly earnings data on Monday, February 14th. The credit services provider reported $1.15 earnings per share (EPS) for the quarter. The company had revenue of ($3.44) million for the quarter. SLM had a net margin of 15.46% and a return on equity of 21.93%. SLM has set its FY 2022 guidance at $2.800-$3.000 EPS. As a group, research analysts expect that SLM will post 3.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SLM shares. Barclays reduced their price target on SLM from $43.00 to $35.00 and set an “overweight” rating for the company in a research report on Monday, October 6th. Keefe, Bruyette & Woods decreased their price target on shares of SLM from $37.00 to $31.00 and set a “market perform” rating for the company in a research report on Wednesday, October 1st. Royal Bank Of Canada reissued an “outperform” rating on shares of SLM in a research report on Monday, July 14th. Morgan Stanley lowered their target price on shares of SLM to $40.00 and set an “overweight” rating for the company in a research note on Monday, September 29th. Finally, Jefferies Financial Group lowered their target price on shares of SLM from $40.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, October 17th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.75.

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.