SLM Co. (NASDAQ:SLMBP) to Issue $1.43 Quarterly Dividend

SLM Co. (NASDAQ:SLMBP) announced a quarterly dividend on Wednesday, April 22nd. Stockholders of record on Thursday, June 4th will be given a dividend of 1.4269 per share on Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 7.7%. The ex-dividend date is Thursday, June 4th.

SLM Stock Performance

Shares of NASDAQ SLMBP opened at $74.45 on Thursday. The stock’s fifty day simple moving average is $74.87 and its 200 day simple moving average is $74.73. SLM has a 52-week low of $70.58 and a 52-week high of $83.15.

Analyst Upgrades and Downgrades

Separately, Bank of America reissued a “buy” rating on shares of SLM in a research note on Monday, March 9th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus 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.