In yesterday’s Wall Street session, SLM Corporation (NASDAQ:SLM) shares traded at $16.66, up 0.97% from the previous session.
As of this writing, 11 analysts cover SLM Corporation (NASDAQ:SLM). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $20.00 and a low of $15.00, we find $19.00. Given the previous closing price of $16.50, this indicates a potential upside of 15.15 percent. SLM stock price is now 3.28% away from the 50-day moving average and 7.26% away from the 200-day moving average. The market capitalization of the company currently stands at $4.05B.
There are 4 analysts who have given it a hold rating, whereas 7 have given it a buy rating. Brokers who have rated the stock have averaged $18.23 as their price target over the next twelve months.
With the price target enhanced from $16 to $17, JP Morgan Upgraded its rating from Neutral to Overweight for SLM Corporation (NASDAQ: SLM).
Insiders disposed of 492,458 shares of company stock worth roughly $8.2 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SLM stock. A new stake in SLM Corporation shares was purchased by GOLDENTREE ASSET MANAGEMENT LP during the first quarter worth $54,658,000. PHILADELPHIA FINANCIAL MANAGEMENT OF SAN FRANCISCO, LLC invested $22,174,000 in shares of SLM during the first quarter. In the first quarter, PHASE 2 PARTNERS, LLC acquired a new stake in SLM Corporation valued at approximately $15,619,000. ARCTIS GLOBAL LLC acquired a new stake in SLM for approximately $12,457,000. RHINO INVESTMENT PARTNERS, INC purchased a new stake in SLM valued at around $11,614,000 in the second quarter. In total, there are 425 active investors with 95.11% ownership of the company’s stock.
Monday morning saw SLM Corporation (NASDAQ: SLM) opened at $16.57. During the past 12 months, SLM Corporation has had a low of $10.81 and a high of $17.92. The fifty day moving average price for SLM is $16.17 and a two-hundred day moving average price translates $15.54 for the stock.
The latest earnings results from SLM Corporation (NASDAQ: SLM) was released for Mar, 2023. According to the Credit Services Company, earnings per share came in at $0.47, beating analysts’ expectations of $0.35 by 0.12. This compares to $0.45 EPS in the same period last year. The net profit margin was 20.30% and return on equity was 27.50% for SLM. The company reported revenue of $637.6 million for the quarter, compared to $465.04 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 37.11 percent. For the current quarter, analysts expect SLM to generate $370.99M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/15/2023. Investors who held shares on 06/02/2023 were paid a $0.11 dividend. On an annualized basis, this represents a $0.44 dividend and a 2.64% percent yield. There was an ex-dividend date of 06/01/2023 for this dividend. In terms of dividend payout ratio, SLM is presently at 25.30%.
SLM Corporation(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 also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high-yield savings accounts; and interest-bearing omnibus accounts. The company was formerly known as New BLC Corporation and changed its name to SLM Corporation in December 2013. SLM Corporation was founded in 1972 and is headquartered in Newark, Delaware.
