SLM (NASDAQ:SLM) Price Target Raised to $38.00

SLM (NASDAQ:SLM) had its price objective hoisted by Morgan Stanley from $32.00 to $38.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the credit services provider’s stock.

A number of other analysts have also weighed in on SLM. Keefe, Bruyette & Woods increased their price objective on shares of SLM from $30.00 to $32.00 and gave the stock a “market perform” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. upped their target price on shares of SLM from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Compass Point upped their target price on shares of SLM from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Royal Bank of Canada upped their target price on shares of SLM from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Finally, Barclays upped their target price on shares of SLM from $34.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, SLM currently has an average rating of “Moderate Buy” and an average target price of $31.45.

SLM Stock Up 1.2 %

SLM opened at $28.79 on Monday. The firm has a 50-day simple moving average of $29.16 and a two-hundred day simple moving average of $25.75. SLM has a 52 week low of $19.39 and a 52 week high of $32.65. The company has a market capitalization of $6.06 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 0.86 and a beta of 1.23. The company has a quick ratio of 1.27, a current ratio of 1.32 and a debt-to-equity ratio of 3.37.

SLM (NASDAQ:SLM) last announced its earnings results on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.06). SLM had a net margin of 20.73% and a return on equity of 31.66%. Analysts forecast that SLM will post 3.07 earnings per share for the current fiscal year.

SLM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th will be paid a $0.13 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.52 annualized dividend and a yield of 1.81%. SLM’s dividend payout ratio (DPR) is 19.62%.

Insider Buying and Selling at SLM

In other SLM news, Director Robert S. Strong sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $28.57, for a total value of $1,142,800.00. Following the completion of the sale, the director now directly owns 43,163 shares in the company, valued at $1,233,166.91. This trade represents a 48.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On SLM

Institutional investors have recently bought and sold shares of the company. Private Trust Co. NA raised its holdings in shares of SLM by 86.4% in the fourth quarter. Private Trust Co. NA now owns 971 shares of the credit services provider’s stock worth $27,000 after buying an additional 450 shares during the last quarter. True Wealth Design LLC purchased a new position in shares of SLM in the third quarter worth $31,000. Capital Performance Advisors LLP purchased a new position in shares of SLM in the third quarter worth $35,000. Blue Trust Inc. raised its holdings in shares of SLM by 32.2% in the fourth quarter. Blue Trust Inc. now owns 1,849 shares of the credit services provider’s stock worth $51,000 after buying an additional 450 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of SLM in the fourth quarter worth $86,000. 98.94% of the stock is currently owned by institutional investors and hedge funds.

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.