SLM Corporation (NASDAQ:SLM) Receives $31.60 Average Price Target from Analysts

SLM Corporation (NASDAQ:SLM) has been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $31.60.

Several brokerages have commented on SLM. Jefferies Financial Group dropped their price objective on SLM from $40.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, October 17th. Compass Point cut shares of SLM from a “buy” rating to a “sell” rating and dropped their price target for the company from $35.00 to $23.00 in a research note on Tuesday, December 9th. Cowen reaffirmed a “buy” rating on shares of SLM in a report on Friday, December 5th. Weiss Ratings upgraded shares of SLM from a “hold (c)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Finally, Barclays reduced their price target on shares of SLM from $43.00 to $35.00 and set an “overweight” rating for the company in a research report on Monday, October 6th.

SLM Stock Up 0.4%

SLM stock opened at $27.63 on Wednesday. SLM has a one year low of $23.81 and a one year high of $34.97. The company has a debt-to-equity ratio of 3.27, a quick ratio of 1.37 and a current ratio of 1.37. The firm’s fifty day moving average is $27.61 and its 200 day moving average is $29.72. The firm has a market cap of $5.61 billion, a PE ratio of 9.67, a P/E/G ratio of 1.06 and a beta of 1.14.

SLM (NASDAQ:SLM) last posted its earnings results on Monday, February 14th. The credit services provider reported $1.15 earnings per share (EPS) for the quarter. SLM had a net margin of 21.76% and a return on equity of 30.13%. The business had revenue of ($3.44) million for the quarter. SLM has set its FY 2022 guidance at $2.800-$3.000 EPS. On average, research analysts forecast that SLM will post 3.07 EPS for the current year.

SLM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Thursday, December 4th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Thursday, December 4th. SLM’s payout ratio is presently 18.25%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLM. Northern Trust Corp raised its position in shares of SLM by 0.6% in the first quarter. Northern Trust Corp now owns 2,654,575 shares of the credit services provider’s stock valued at $77,965,000 after buying an additional 15,662 shares during the last quarter. Nuveen LLC purchased a new stake in SLM during the 1st quarter valued at about $15,544,000. Caisse DE Depot ET Placement DU Quebec acquired a new stake in SLM in the 1st quarter valued at about $1,392,000. Millennium Management LLC raised its holdings in SLM by 378.4% in the 1st quarter. Millennium Management LLC now owns 2,633,072 shares of the credit services provider’s stock valued at $77,333,000 after acquiring an additional 2,082,687 shares during the last quarter. Finally, Twin Tree Management LP lifted its stake in SLM by 9,808.3% in the 1st quarter. Twin Tree Management LP now owns 39,633 shares of the credit services provider’s stock worth $1,164,000 after purchasing an additional 39,233 shares in the last quarter. Hedge funds and other institutional investors own 98.94% of the company’s stock.

SLM Company Profile

SLM Corporation, operating as Sallie Mae Bank, is a leading U.S.-based consumer banking company specializing in education financing and related banking products. The company provides a range of private student loans for undergraduate and graduate studies, Parent PLUS loans, and specialized financing for career and certificate programs. In addition to its core lending services, Sallie Mae offers deposit products including savings accounts, checking accounts, money market accounts, certificates of deposit, and credit cards tailored to students and young adults.

Founded in 1972 as the Student Loan Marketing Association—a government-sponsored enterprise—Sallie Mae was privatized in 2004 and has since focused on expanding its private education loan offerings and digital banking solutions.