SLM Co. (NASDAQ:SLMBP) Sees Large Growth in Short Interest

SLM Co. (NASDAQ:SLMBP) was the recipient of a large growth in short interest in May. As of May 15th, there was short interest totaling 9,109 shares, a growth of 71.2% from the April 30th total of 5,321 shares. Based on an average daily trading volume, of 2,752 shares, the short-interest ratio is presently 3.3 days.

Analyst Upgrades and Downgrades

Separately, Bank of America reiterated a “buy” rating on shares of SLM in a research report on Monday, March 9th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, SLM has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

SLM Trading Up 0.0%

NASDAQ SLMBP opened at $75.06 on Thursday. The firm’s 50 day moving average price is $74.68 and its two-hundred day moving average price is $74.60. SLM has a twelve month low of $70.58 and a twelve month high of $83.05.

SLM Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Thursday, June 4th will be paid a dividend of $1.4269 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $5.71 dividend on an annualized basis and a dividend yield of 7.6%.

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.