SLM (NASDAQ:SLM) Price Target Cut to $26.00 by Analysts at Barclays

SLM (NASDAQ:SLM) had its price objective trimmed by Barclays from $27.00 to $26.00 in a research report report published on Thursday, Benzinga reports. They currently have an overweight rating on the credit services provider’s stock.

A number of other brokerages have also recently issued reports on SLM. Royal Bank of Canada increased their target price on shares of SLM from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods raised their price objective on shares of SLM from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Bank of America started coverage on SLM in a report on Wednesday, September 25th. They issued a “buy” rating and a $27.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their price target on SLM from $25.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company upped their price target on shares of SLM from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, SLM currently has an average rating of “Moderate Buy” and an average target price of $24.67.

SLM Price Performance

NASDAQ SLM traded up $0.29 during trading on Thursday, reaching $22.50. 124,898 shares of the company traded hands, compared to its average volume of 1,780,400. SLM has a 1-year low of $12.26 and a 1-year high of $23.95. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 6.94, a P/E/G ratio of 0.60 and a beta of 1.15. The stock’s 50 day moving average price is $21.92 and its two-hundred day moving average price is $21.50. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.26 and a current ratio of 1.26.

SLM (NASDAQ:SLM) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.30). SLM had a return on equity of 41.84% and a net margin of 24.67%. The company had revenue of $652.64 million for the quarter, compared to the consensus estimate of $363.40 million. During the same quarter last year, the business earned $0.11 EPS. As a group, analysts anticipate that SLM will post 2.85 EPS for the current year.

SLM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be given a $0.13 dividend. This is a boost from SLM’s previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Thursday, December 5th. SLM’s payout ratio is currently 13.75%.

Insider Buying and Selling

In other SLM news, Director Robert S. Strong sold 4,500 shares of SLM stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $22.70, for a total value of $102,150.00. Following the sale, the director now owns 101,093 shares of the company’s stock, valued at $2,294,811.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On SLM

Several hedge funds have recently made changes to their positions in the business. Pallas Capital Advisors LLC bought a new stake in shares of SLM in the third quarter worth $201,000. Klein Pavlis & Peasley Financial Inc. acquired a new stake in SLM in the 3rd quarter valued at $211,000. State of Alaska Department of Revenue lifted its position in SLM by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 25,617 shares of the credit services provider’s stock worth $585,000 after buying an additional 1,710 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of SLM by 194.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 33,273 shares of the credit services provider’s stock worth $761,000 after buying an additional 21,984 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. bought a new position in shares of SLM in the 3rd quarter valued at about $240,000. 98.94% of the stock is owned by institutional investors.

About SLM

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.