US Bancorp DE cut its stake in shares of SLM Corporation (NASDAQ:SLM) by 18.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,396 shares of the credit services provider’s stock after selling 7,892 shares during the period. US Bancorp DE’s holdings in SLM Corporation were worth $429,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Parametrica Management Ltd purchased a new position in shares of SLM Corporation during the first quarter worth $150,000. Commerzbank Aktiengesellschaft FI purchased a new position in shares of SLM Corporation during the first quarter worth $163,000. Cigna Investments Inc. New purchased a new position in shares of SLM Corporation during the fourth quarter worth $165,000. Sheaff Brock Investment Advisors LLC purchased a new position in shares of SLM Corporation during the first quarter worth $246,000. Finally, Quadrature Capital Ltd bought a new position in shares of SLM Corporation during the fourth quarter worth approximately $385,000. 99.59% of the stock is owned by hedge funds and other institutional investors.
Shares of SLM Corporation (NASDAQ:SLM) opened at 10.49 on Friday. SLM Corporation has a 12 month low of $5.56 and a 12 month high of $13.20. The stock’s 50 day moving average price is $11.08 and its 200-day moving average price is $11.52. The firm has a market cap of $4.52 billion, a P/E ratio of 17.75 and a beta of 1.26.
SLM Corporation (NASDAQ:SLM) last announced its earnings results on Wednesday, April 19th. The credit services provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.15 by $0.06. The business had revenue of $268.08 million during the quarter, compared to the consensus estimate of $260.24 million. SLM Corporation had a net margin of 23.17% and a return on equity of 16.36%. SLM Corporation’s revenue was up 27.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 EPS. Equities research analysts anticipate that SLM Corporation will post $0.73 earnings per share for the current fiscal year.
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Several research analysts recently commented on SLM shares. FBR & Co set a $14.00 price target on SLM Corporation and gave the stock a “buy” rating in a research note on Saturday, April 22nd. ValuEngine raised SLM Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Off Wall Street reissued a “sell” rating and issued a $8.50 price objective on shares of SLM Corporation in a report on Monday, May 15th. BMO Capital Markets reaffirmed a “hold” rating and set a $10.00 target price on shares of SLM Corporation in a report on Tuesday, April 11th. Finally, Zacks Investment Research raised SLM Corporation from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Monday, April 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. SLM Corporation currently has a consensus rating of “Buy” and a consensus target price of $11.34.
In related news, EVP Laurent Charles Lutz sold 170,000 shares of SLM Corporation stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $13.08, for a total transaction of $2,223,600.00. Following the completion of the sale, the executive vice president now owns 740,299 shares of the company’s stock, valued at approximately $9,683,110.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.59% of the company’s stock.
About SLM Corporation
SLM Corporation (Sallie Mae) is the nation’s saving, planning, and paying for college company. Sallie Mae offers products, which promote personal finance including private education loans, Upromise rewards, scholarship search, college financial planning tools, insurance, and online retail banking.
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