SLM Co. (NASDAQ:SLMBP) Short Interest Down 19.4% in March

SLM Co. (NASDAQ:SLMBP) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totaling 8,938 shares, a decrease of 19.4% from the March 15th total of 11,087 shares. Based on an average daily volume of 3,186 shares, the days-to-cover ratio is presently 2.8 days.

Wall Street Analysts Forecast Growth

Separately, Bank of America reaffirmed a “buy” rating on shares of SLM in a report on Monday, March 9th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

SLM Price Performance

SLMBP stock opened at $74.48 on Friday. SLM has a twelve month low of $70.00 and a twelve month high of $83.15. The business has a 50 day simple moving average of $74.91 and a 200-day simple moving average of $74.76.

SLM Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Thursday, March 5th were issued a $1.4327 dividend. This represents a $5.73 annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend was Thursday, March 5th.

About SLM

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.