SLM (NASDAQ:SLM) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of SLM Co. (NASDAQ:SLM) saw unusually-strong trading volume on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $27.00 to $29.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Approximately 1,507,940 shares traded hands during trading, a decline of 35% from the previous session’s volume of 2,321,615 shares.The stock last traded at $28.07 and had previously closed at $27.63.

SLM has been the topic of a number of other reports. Wedbush reiterated an “outperform” rating and issued a $26.00 target price on shares of SLM in a report on Thursday, October 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $30.00 target price (up from $27.00) on shares of SLM in a research note on Monday, December 9th. Bank of America began coverage on shares of SLM in a research note on Wednesday, September 25th. They issued a “buy” rating and a $27.00 target price for the company. Morgan Stanley lifted their price objective on shares of SLM from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Finally, Barclays reduced their price target on SLM from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.45.

Insider Activity at SLM

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

Institutional Investors Weigh In On SLM

Institutional investors have recently bought and sold shares of the company. True Wealth Design LLC bought a new position in shares of SLM during the 3rd quarter worth approximately $31,000. Waldron Private Wealth LLC acquired a new stake in SLM during the 3rd quarter worth approximately $31,000. Blue Trust Inc. boosted its stake in SLM by 358.7% in the 3rd quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 1,094 shares during the period. Capital Performance Advisors LLP bought a new position in SLM during the 3rd quarter worth $35,000. Finally, Covestor Ltd lifted its holdings in shares of SLM by 110.3% during the third quarter. Covestor Ltd now owns 4,404 shares of the credit services provider’s stock worth $101,000 after buying an additional 2,310 shares in the last quarter. Institutional investors own 98.94% of the company’s stock.

SLM Trading Up 1.6 %

The company has a debt-to-equity ratio of 3.21, a current ratio of 1.29 and a quick ratio of 1.27. The business’s 50-day moving average is $26.43 and its 200 day moving average is $23.44. The firm has a market capitalization of $5.96 billion, a P/E ratio of 9.78, a price-to-earnings-growth ratio of 0.85 and a beta of 1.21.

SLM (NASDAQ:SLM) last announced its earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.30). The business had revenue of $652.64 million for the quarter, compared to the consensus estimate of $363.40 million. SLM had a return on equity of 35.92% and a net margin of 22.18%. During the same period in the prior year, the business posted $0.11 earnings per share. As a group, analysts anticipate that SLM Co. will post 2.73 EPS for the current fiscal year.

SLM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.85%. This is an increase from SLM’s previous quarterly dividend of $0.11. The ex-dividend date was Thursday, December 5th. SLM’s dividend payout ratio is presently 18.12%.

SLM Company Profile

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.