SLM (NASDAQ:SLM) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of SLM (NASDAQ:SLM) in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a $26.00 target price on the credit services provider’s stock.

SLM has been the topic of several other reports. Wedbush reaffirmed an “outperform” rating and set a $26.00 target price on shares of SLM in a report on Thursday. Bank of America started coverage on shares of SLM in a research note on Wednesday, September 25th. They set a “buy” rating and a $27.00 price objective on the stock. Wells Fargo & Company lifted their target price on shares of SLM from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft increased their price target on shares of SLM from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of SLM from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, SLM has a consensus rating of “Moderate Buy” and a consensus target price of $24.67.

SLM Stock Performance

NASDAQ SLM traded up $0.29 on Thursday, hitting $22.50. 124,898 shares of the company’s stock traded hands, compared to its average volume of 1,780,400. The firm’s 50-day moving average price is $21.92 and its two-hundred day moving average price is $21.50. The firm has a market capitalization of $4.94 billion, a PE ratio of 6.94, a P/E/G ratio of 0.60 and a beta of 1.15. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 2.66. SLM has a 1-year low of $12.26 and a 1-year high of $23.95.

SLM (NASDAQ:SLM) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.30). The business had revenue of $652.64 million for the quarter, compared to analyst estimates of $363.40 million. SLM had a net margin of 24.67% and a return on equity of 41.84%. During the same quarter in the prior year, the firm earned $0.11 earnings per share. As a group, analysts expect that SLM will post 2.85 EPS for the current year.

SLM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.31%. This is a boost from SLM’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, December 5th. SLM’s payout ratio is presently 13.75%.

Insider Buying and Selling at SLM

In other news, Director Robert S. Strong sold 4,500 shares of SLM stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $22.70, for a total value of $102,150.00. Following the sale, the director now directly owns 101,093 shares of the company’s stock, valued at $2,294,811.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On SLM

Hedge funds and other institutional investors have recently modified their holdings of the business. Hexagon Capital Partners LLC raised its holdings in SLM by 1,373.3% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,326 shares of the credit services provider’s stock valued at $29,000 after acquiring an additional 1,236 shares during the last quarter. Waldron Private Wealth LLC purchased a new stake in shares of SLM in the third quarter valued at approximately $31,000. Blue Trust Inc. increased its holdings in shares of SLM by 358.7% in the third 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 last quarter. International Assets Investment Management LLC purchased a new position in SLM during the second quarter worth approximately $60,000. Finally, Covestor Ltd boosted its stake in SLM by 378.1% during the first quarter. Covestor Ltd now owns 3,050 shares of the credit services provider’s stock worth $66,000 after buying an additional 2,412 shares during the last quarter. 98.94% of the stock is owned by hedge funds and other institutional investors.

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.