SLM Corporation (NASDAQ:SLM) Receives $32.63 Average Price Target from Brokerages

Shares of SLM Corporation (NASDAQ:SLM) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $32.6250.

A number of brokerages have recently issued reports on SLM. Wall Street Zen raised SLM from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Wells Fargo & Company reduced their price objective on SLM from $38.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. Royal Bank Of Canada increased their target price on shares of SLM from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Barclays dropped their target price on shares of SLM from $43.00 to $35.00 and set an “overweight” rating for the company in a report on Monday, October 6th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $29.00 target price (down from $38.00) on shares of SLM in a report on Tuesday, October 7th.

Institutional Trading of SLM

A number of institutional investors have recently modified their holdings of SLM. GAMMA Investing LLC boosted its holdings in shares of SLM by 19.2% during the first quarter. GAMMA Investing LLC now owns 8,034 shares of the credit services provider’s stock worth $236,000 after purchasing an additional 1,294 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of SLM by 2.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,415 shares of the credit services provider’s stock worth $1,040,000 after purchasing an additional 706 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in SLM in the first quarter worth about $216,000. J.Safra Asset Management Corp purchased a new stake in SLM in the first quarter worth about $25,000. Finally, Teacher Retirement System of Texas lifted its holdings in SLM by 152.7% in the first quarter. Teacher Retirement System of Texas now owns 29,434 shares of the credit services provider’s stock worth $864,000 after buying an additional 17,786 shares during the period. 98.94% of the stock is currently owned by hedge funds and other institutional investors.

SLM Stock Down 1.4%

Shares of NASDAQ:SLM opened at $26.61 on Tuesday. The stock’s 50-day moving average price is $28.35 and its 200-day moving average price is $30.55. SLM has a 12-month low of $21.10 and a 12-month high of $34.97. The stock has a market capitalization of $5.40 billion, a P/E ratio of 9.34, a price-to-earnings-growth ratio of 0.64 and a beta of 1.11. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 3.27.

SLM (NASDAQ:SLM) last announced its quarterly earnings data on Monday, February 14th. The credit services provider reported $1.15 earnings per share (EPS) for the quarter. SLM had a return on equity of 30.13% and a net margin of 21.76%.The firm had revenue of ($3.44) million for the quarter. SLM has set its FY 2022 guidance at $2.800-$3.000 EPS. On average, equities analysts anticipate that SLM will post 3.07 earnings per share for the current year.

SLM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Thursday, December 4th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Thursday, December 4th. SLM’s dividend payout ratio is currently 18.25%.

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.