SLM (NASDAQ:SLM) Announces Earnings Results

SLM (NASDAQ:SLM) posted its earnings results on Thursday. The credit services provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.21), Zacks reports. The firm had revenue of $546.00 million during the quarter, compared to the consensus estimate of $382.50 million. SLM had a return on equity of 21.93% and a net margin of 15.46%.During the same quarter last year, the company posted ($0.23) EPS.

SLM Price Performance

NASDAQ:SLM opened at $26.73 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 3.02. The business’s 50-day moving average price is $28.65 and its 200 day moving average price is $30.46. SLM has a 52-week low of $21.10 and a 52-week high of $34.97. The firm has a market cap of $5.57 billion, a P/E ratio of 13.43, a PEG ratio of 0.77 and a beta of 1.11.

SLM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Thursday, December 4th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.52 annualized dividend and a yield of 1.9%. SLM’s dividend payout ratio (DPR) is currently 26.13%.

Insiders Place Their Bets

In other news, EVP Kerri A. Palmer sold 55,000 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $32.21, for a total transaction of $1,771,550.00. Following the completion of the transaction, the executive vice president owned 119,253 shares in the company, valued at approximately $3,841,139.13. This trade represents a 31.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Institutional Trading of SLM

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its holdings in SLM by 118.2% during the second quarter. EverSource Wealth Advisors LLC now owns 3,995 shares of the credit services provider’s stock worth $131,000 after buying an additional 2,164 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of SLM during the 1st quarter worth $263,000. NewEdge Advisors LLC grew its holdings in shares of SLM by 6.6% in the 1st quarter. NewEdge Advisors LLC now owns 21,350 shares of the credit services provider’s stock worth $627,000 after acquiring an additional 1,319 shares during the last quarter. Captrust Financial Advisors raised its position in shares of SLM by 6.1% during the second quarter. Captrust Financial Advisors now owns 36,889 shares of the credit services provider’s stock worth $1,210,000 after purchasing an additional 2,109 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of SLM by 33.4% during the first quarter. Goldman Sachs Group Inc. now owns 547,724 shares of the credit services provider’s stock worth $16,087,000 after purchasing an additional 137,285 shares during the period. 98.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SLM shares. Barclays decreased their price objective on SLM from $43.00 to $35.00 and set an “overweight” rating for the company in a report on Monday, October 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $29.00 price target (down previously from $38.00) on shares of SLM in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods lowered their price target on SLM from $37.00 to $31.00 and set a “market perform” rating on the stock in a report on Wednesday, October 1st. Wells Fargo & Company began coverage on shares of SLM in a research note on Monday, August 25th. They set an “overweight” rating and a $38.00 price objective on the stock. Finally, Wall Street Zen lowered shares of SLM from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, SLM presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.75.

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.