SLM (NASDAQ:SLM) Hits New 52-Week High at $22.74

SLM Co. (NASDAQ:SLM)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $22.74 and last traded at $21.62, with a volume of 426308 shares. The stock had previously closed at $21.68.

Wall Street Analyst Weigh In

SLM has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of SLM in a report on Wednesday, January 10th. They issued a “buy” rating and a $25.00 price target for the company. TheStreet upgraded shares of SLM from a “c+” rating to a “b” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. raised their price target on shares of SLM from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Citigroup upgraded shares of SLM from a “neutral” rating to a “buy” rating and raised their price target for the stock from $14.00 to $23.00 in a report on Tuesday, January 16th. Finally, Wells Fargo & Company lifted their price objective on shares of SLM from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SLM has a consensus rating of “Moderate Buy” and an average price target of $21.32.

SLM Trading Down 0.2 %

The firm has a market capitalization of $4.75 billion, a PE ratio of 6.78, a PEG ratio of 0.44 and a beta of 1.17. The firm’s fifty day moving average is $21.14 and its two-hundred day moving average is $18.65. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.23 and a quick ratio of 1.23.

SLM (NASDAQ:SLM) last released its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.18. SLM had a net margin of 25.15% and a return on equity of 45.65%. The business had revenue of $837.72 million for the quarter, compared to analysts’ expectations of $376.43 million. During the same period in the previous year, the company earned $0.47 earnings per share. On average, equities analysts predict that SLM Co. will post 2.75 EPS for the current fiscal year.

SLM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Thursday, June 6th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.03%. The ex-dividend date is Wednesday, June 5th. SLM’s dividend payout ratio (DPR) is presently 13.75%.

SLM announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 24th that authorizes the company to repurchase $650.00 million in outstanding shares. This repurchase authorization authorizes the credit services provider to reacquire up to 14.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other SLM news, SVP Jonathan Boyles sold 94,078 shares of SLM stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $20.72, for a total value of $1,949,296.16. Following the sale, the senior vice president now owns 52,751 shares of the company’s stock, valued at $1,093,000.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.91% of the company’s stock.

Institutional Trading of SLM

Several hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its holdings in SLM by 81.4% during the 4th quarter. Blue Trust Inc. now owns 1,328 shares of the credit services provider’s stock worth $25,000 after acquiring an additional 596 shares during the period. Daiwa Securities Group Inc. bought a new stake in SLM during the 4th quarter valued at $29,000. Hexagon Capital Partners LLC raised its holdings in SLM by 1,373.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,326 shares of the credit services provider’s stock valued at $29,000 after buying an additional 1,236 shares during the last quarter. SYSTM Wealth Solutions LLC raised its holdings in SLM by 37.0% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 1,828 shares of the credit services provider’s stock valued at $40,000 after buying an additional 494 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in SLM during the 4th quarter valued at $40,000. Institutional investors 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.