SLM Corporation (SLM) Stock Rating Upgraded by Zacks Investment Research
SLM Corporation (NASDAQ:SLM) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday. The brokerage currently has a $13.00 target price on the credit services provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.59% from the stock’s current price.
According to Zacks, “Sallie Mae’s shares significantly outperformed the Zacks categorized Consumer Loan industry over the last six months. Further, estimates have remained stable ahead of the company’s Q2 earnings release. Also, the company has positive earnings surprises in recent quarters.The company is focused on strengthening its Private Education Loan assets and revenues, maintaining a strong capital position and introducing multiple complementary new products. The economic recovery and declining unemployment rate should help Sallie Mae maintain its leading position in the student lending market. Further, Sallie Mae’s profitability is likely to be supported by recently approved Financial Choice Act. However, a competitive business environment and escalating expenses remain near-term concerns. Further, Sallie Mae faces concentration risk due to over dependence on brokered deposits.”
Other analysts have also recently issued reports about the company. FBR & Co set a $14.00 price objective on SLM Corporation and gave the company a “buy” rating in a research report on Saturday, April 22nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $15.00 price target on shares of SLM Corporation in a research note on Friday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $15.00 price target on shares of SLM Corporation in a research note on Friday. BidaskClub raised SLM Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $10.00 price target on shares of SLM Corporation in a research note on Tuesday, April 11th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $11.74.
SLM Corporation (SLM) traded down 1.03% during midday trading on Monday, hitting $11.53. 293,590 shares of the stock traded hands. The stock has a market cap of $4.97 billion, a PE ratio of 19.51 and a beta of 1.20. The company has a 50-day moving average of $10.77 and a 200-day moving average of $11.54. SLM Corporation has a 12 month low of $6.93 and a 12 month high of $13.20.
SLM Corporation (NASDAQ:SLM) last announced its quarterly earnings results on Wednesday, April 19th. The credit services provider reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.06. The company had revenue of $268.08 million during the quarter, compared to analysts’ expectations of $260.24 million. SLM Corporation had a return on equity of 16.36% and a net margin of 23.17%. SLM Corporation’s quarterly revenue was up 27.7% on a year-over-year basis. During the same period last year, the business earned $0.14 earnings per share. On average, equities research analysts anticipate that SLM Corporation will post $0.73 earnings per share for the current year.
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In other SLM Corporation news, EVP Laurent Charles Lutz sold 170,000 shares of SLM Corporation stock in a transaction on Monday, April 24th. The stock was sold at an average price of $13.08, for a total value of $2,223,600.00. Following the sale, the executive vice president now owns 740,299 shares in the company, valued at $9,683,110.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.59% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. Tyers Asset Management LLC increased its stake in SLM Corporation by 49.0% in the first quarter. Tyers Asset Management LLC now owns 138,404 shares of the credit services provider’s stock valued at $1,675,000 after buying an additional 45,528 shares in the last quarter. State Treasurer State of Michigan increased its stake in SLM Corporation by 1.1% in the first quarter. State Treasurer State of Michigan now owns 174,325 shares of the credit services provider’s stock valued at $2,109,000 after buying an additional 1,900 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new stake in SLM Corporation during the first quarter valued at about $163,000. Wells Fargo & Company MN increased its stake in SLM Corporation by 28.8% in the first quarter. Wells Fargo & Company MN now owns 12,697,341 shares of the credit services provider’s stock valued at $153,638,000 after buying an additional 2,835,400 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in SLM Corporation by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 150,855 shares of the credit services provider’s stock valued at $1,825,000 after buying an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 99.08% of the company’s stock.
SLM Corporation Company Profile
SLM Corporation (Sallie Mae) is the nation’s saving, planning, and paying for college company. Sallie Mae offers products, which promote personal finance including private education loans, Upromise rewards, scholarship search, college financial planning tools, insurance, and online retail banking.
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