SLM Corporation (NASDAQ:SLM) Receives Average Recommendation of “Moderate Buy” from Analysts

SLM Corporation (NASDAQ:SLM) has received a consensus rating of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $32.6250.

A number of equities analysts recently commented on the company. Barclays reduced their price objective on SLM from $43.00 to $35.00 and set an “overweight” rating on the stock in a research report on Monday, October 6th. Weiss Ratings upgraded SLM from a “hold (c)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Wall Street Zen raised shares of SLM from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Wells Fargo & Company cut their price objective on shares of SLM from $38.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, October 24th. Finally, Morgan Stanley decreased their target price on shares of SLM from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, October 24th.

SLM Stock Performance

Shares of NASDAQ:SLM opened at $29.05 on Friday. The company has a debt-to-equity ratio of 3.27, a current ratio of 1.37 and a quick ratio of 1.37. SLM has a 1 year low of $23.81 and a 1 year high of $34.97. The firm has a market capitalization of $5.90 billion, a PE ratio of 10.19, a P/E/G ratio of 0.64 and a beta of 1.16. The business’s 50 day moving average price is $27.28 and its 200-day moving average price is $30.40.

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

SLM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Thursday, December 4th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, December 4th. SLM’s dividend payout ratio is presently 18.25%.

Hedge Funds Weigh In On SLM

Several large investors have recently modified their holdings of SLM. Amalgamated Bank increased its position in shares of SLM by 0.3% during the 2nd quarter. Amalgamated Bank now owns 96,570 shares of the credit services provider’s stock worth $3,167,000 after purchasing an additional 326 shares during the last quarter. AlphaQuest LLC increased its position in shares of SLM by 1.1% during the first quarter. AlphaQuest LLC now owns 36,509 shares of the credit services provider’s stock valued at $1,072,000 after acquiring an additional 408 shares during the last quarter. Meritage Portfolio Management increased its position in shares of SLM by 2.8% during the second quarter. Meritage Portfolio Management now owns 16,780 shares of the credit services provider’s stock valued at $550,000 after acquiring an additional 464 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of SLM by 1.4% in the 1st quarter. HighTower Advisors LLC now owns 39,364 shares of the credit services provider’s stock valued at $1,156,000 after acquiring an additional 541 shares during the period. Finally, Intech Investment Management LLC lifted its holdings in shares of SLM by 0.5% in the 1st quarter. Intech Investment Management LLC now owns 116,786 shares of the credit services provider’s stock worth $3,430,000 after acquiring an additional 564 shares during the last quarter. Institutional investors and hedge funds own 98.94% of the company’s stock.

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.