SLM Co. (NASDAQ:SLMBP) Short Interest Down 19.4% in March

SLM Co. (NASDAQ:SLMBP) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 8,938 shares, a decrease of 19.4% from the March 15th total of 11,087 shares. Based on an average daily trading volume, of 3,186 shares, the short-interest ratio is presently 2.8 days.

SLM Trading Down 0.0%

Shares of NASDAQ SLMBP traded down $0.02 during midday trading on Friday, hitting $74.18. The company’s stock had a trading volume of 1,478 shares, compared to its average volume of 3,714. The business’s fifty day simple moving average is $74.91 and its two-hundred day simple moving average is $74.77. SLM has a 1 year low of $70.00 and a 1 year high of $83.15.

SLM Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Thursday, March 5th were paid a $1.4327 dividend. The ex-dividend date was Thursday, March 5th. This represents a $5.73 dividend on an annualized basis and a yield of 7.7%.

Analysts Set New Price Targets

Separately, Bank of America restated a “buy” rating on shares of SLM in a research report on Monday, March 9th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, SLM has an average rating of “Moderate Buy” and an average target price of $40.00.

SLM Company Profile

SLM Corporation, doing business as Sallie Mae, is a U.S.-based provider of private student loans, servicing, and banking products. The company specializes in originating and servicing education loans for undergraduate, graduate and professional students, as well as career and technical training programs. In addition to its core student lending business, Sallie Mae offers deposit products, credit cards and digital tools designed to help customers manage personal finances and plan for higher-education expenses.

Sallie Mae’s product suite includes fixed- and variable-rate private student loans, graduate student loans, parent loans and career training loans.