SLM (NASDAQ:SLM) Price Target Raised to $34.00

SLM (NASDAQ:SLM) had its target price hoisted by research analysts at Compass Point from $31.00 to $34.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the credit services provider’s stock. Compass Point’s price objective indicates a potential upside of 11.63% from the company’s current price.

SLM has been the topic of several other research reports. Morgan Stanley lifted their target price on SLM from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $30.00 price objective (up from $27.00) on shares of SLM in a research note on Monday, December 9th. Royal Bank of Canada restated an “outperform” rating and set a $26.00 target price on shares of SLM in a research report on Thursday, October 24th. Barclays decreased their target price on shares of SLM from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Wedbush reiterated an “outperform” rating and set a $26.00 price target on shares of SLM in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $28.64.

SLM Stock Up 4.0 %

Shares of SLM stock opened at $30.46 on Friday. SLM has a 52-week low of $18.84 and a 52-week high of $31.49. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.27 and a current ratio of 1.29. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 0.79 and a beta of 1.21. The firm’s 50-day moving average is $27.18 and its 200-day moving average is $23.83.

SLM (NASDAQ:SLM) last released its quarterly earnings results on Thursday, January 23rd. The credit services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.06). SLM had a net margin of 22.18% and a return on equity of 35.92%. Sell-side analysts predict that SLM will post 2.72 EPS for the current year.

Insider Buying and Selling at SLM

In related news, Director Robert S. Strong sold 4,500 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $27.25, for a total value of $122,625.00. Following the transaction, the director now directly owns 83,130 shares of the company’s stock, valued at approximately $2,265,292.50. This trade represents a 5.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by corporate insiders.

Institutional Trading of SLM

Institutional investors and hedge funds have recently bought and sold shares of the stock. Moody Aldrich Partners LLC purchased a new position in shares of SLM in the 4th quarter worth $1,776,000. Pacer Advisors Inc. lifted its holdings in shares of SLM by 26.1% in the 4th quarter. Pacer Advisors Inc. now owns 39,969 shares of the credit services provider’s stock valued at $1,102,000 after acquiring an additional 8,265 shares during the last quarter. KBC Group NV grew its position in SLM by 51.6% in the fourth quarter. KBC Group NV now owns 8,565 shares of the credit services provider’s stock worth $236,000 after acquiring an additional 2,916 shares in the last quarter. Blue Trust Inc. increased its stake in SLM by 32.2% during the fourth quarter. Blue Trust Inc. now owns 1,849 shares of the credit services provider’s stock worth $51,000 after acquiring an additional 450 shares during the last quarter. Finally, Dakota Wealth Management purchased a new stake in SLM during the fourth quarter valued at approximately $262,000. 98.94% of the stock is currently owned by institutional investors.

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.