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

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

Analysts Set New Price Targets

SLM has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on SLM from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Royal Bank of Canada raised their target price on SLM from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Wells Fargo & Company increased their price target on SLM from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Wedbush lifted their price objective on shares of SLM from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of SLM in a research note on Wednesday, January 10th. They set a “buy” rating and a $25.00 target price on the stock. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.32.

SLM Stock Performance

The stock has a market cap of $4.75 billion, a P/E ratio of 6.78, a price-to-earnings-growth ratio of 0.44 and a beta of 1.17. The firm’s 50-day moving average is $21.14 and its two-hundred day moving average is $18.65. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 2.67.

SLM (NASDAQ:SLM) last announced its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.18. The firm had revenue of $837.72 million for the quarter, compared to analyst estimates of $376.43 million. SLM had a net margin of 25.15% and a return on equity of 45.65%. During the same quarter in the previous year, the firm posted $0.47 EPS. As a group, research analysts expect that SLM Co. will post 2.75 EPS for the current year.

SLM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Thursday, June 6th will be issued a $0.11 dividend. 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 has authorized a stock buyback program on Wednesday, January 24th that permits the company to repurchase $650.00 million in outstanding shares. This repurchase authorization permits the credit services provider to buy up to 14.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insider Transactions at SLM

In other news, SVP Jonathan Boyles sold 94,078 shares of the company’s 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 approximately $1,093,000.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.91% of the stock is owned by insiders.

Institutional Investors Weigh In On SLM

Hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank lifted its position in SLM by 0.3% during the 1st quarter. Swiss National Bank now owns 402,088 shares of the credit services provider’s stock valued at $8,761,000 after purchasing an additional 1,100 shares during the period. SG Americas Securities LLC raised its position in shares of SLM by 117.5% in the 1st quarter. SG Americas Securities LLC now owns 73,140 shares of the credit services provider’s stock valued at $1,594,000 after acquiring an additional 39,519 shares during the period. Empowered Funds LLC acquired a new stake in shares of SLM in the 1st quarter valued at approximately $216,000. Daiwa Securities Group Inc. raised its position in shares of SLM by 626.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 10,900 shares of the credit services provider’s stock valued at $238,000 after acquiring an additional 9,400 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of SLM by 77.8% in the 1st quarter. BNP Paribas Financial Markets now owns 64,514 shares of the credit services provider’s stock valued at $1,406,000 after acquiring an additional 28,236 shares during the period. Institutional investors own 98.94% of the company’s stock.

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.