Zacks Investment Research upgraded shares of SLM Corporation (NASDAQ:SLM) from a sell rating to a hold rating in a research report report published on Tuesday morning.

According to Zacks, “Shares of Sallie Mae have outperformed the industry over the past year. This price performance is backed by impressive earnings surprise history. The company has surpassed the Zacks Consensus Estimate for earnings in two of the trailing four quarters. It remains focused on strengthening its Private Education Loan assets and revenues and maintaining a strong capital position. Also, the economic recovery and declining unemployment rate should help it maintain its leading position in the student lending market. However, a competitive business environment and consistently increasing expenses remain near-term concerns. Further, Sallie Mae faces concentration risk due to over dependence on brokered deposits.”

A number of other equities analysts have also issued reports on SLM. BidaskClub upgraded shares of SLM Corporation from a strong sell rating to a sell rating in a research report on Friday, June 30th. Keefe, Bruyette & Woods reiterated a buy rating and set a $15.00 target price on shares of SLM Corporation in a research report on Friday, July 14th. FBR & Co reiterated an outperform rating and set a $13.00 target price (down from $14.00) on shares of SLM Corporation in a research report on Thursday, July 20th. Jefferies Group LLC reiterated a buy rating and set a $15.00 target price on shares of SLM Corporation in a research report on Saturday, July 22nd. Finally, Wedbush lowered shares of SLM Corporation to a buy rating and set a $15.00 target price on the stock. in a research report on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $12.94.

Shares of SLM Corporation (NASDAQ:SLM) opened at 10.13 on Tuesday. The stock’s 50 day moving average price is $10.91 and its 200 day moving average price is $11.44. The firm has a market capitalization of $4.37 billion, a P/E ratio of 16.34 and a beta of 1.19. SLM Corporation has a 52 week low of $6.93 and a 52 week high of $13.20.

SLM Corporation (NASDAQ:SLM) last announced its earnings results on Wednesday, July 19th. The credit services provider reported $0.16 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.16. SLM Corporation had a net margin of 22.81% and a return on equity of 16.31%. The company had revenue of $269.89 million for the quarter, compared to analyst estimates of $268.69 million. During the same period in the prior year, the business earned $0.12 earnings per share. SLM Corporation’s quarterly revenue was up 26.8% on a year-over-year basis. On average, analysts predict that SLM Corporation will post $0.71 EPS for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in SLM. BlackRock Inc. raised its position in shares of SLM Corporation by 16,412.5% in the first quarter. BlackRock Inc. now owns 49,038,613 shares of the credit services provider’s stock valued at $593,366,000 after buying an additional 48,741,634 shares in the last quarter. Boston Partners raised its position in shares of SLM Corporation by 9.4% in the first quarter. Boston Partners now owns 26,753,064 shares of the credit services provider’s stock valued at $323,712,000 after buying an additional 2,288,089 shares in the last quarter. Vanguard Group Inc. raised its position in shares of SLM Corporation by 2.7% in the first quarter. Vanguard Group Inc. now owns 23,780,993 shares of the credit services provider’s stock valued at $287,750,000 after buying an additional 626,211 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of 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, Dimensional Fund Advisors LP raised its position in shares of SLM Corporation by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 7,454,466 shares of the credit services provider’s stock valued at $90,202,000 after buying an additional 64,956 shares in the last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.

About SLM Corporation

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.

Analyst Recommendations for SLM Corporation (NASDAQ:SLM)

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