SLM (NASDAQ:SLM) Given New $23.00 Price Target at JPMorgan Chase & Co.

SLM (NASDAQ:SLM) had its price objective upped by JPMorgan Chase & Co. from $22.00 to $23.00 in a report released on Thursday, Benzinga reports. The firm currently has a neutral rating on the credit services provider’s stock.

SLM has been the topic of several other research reports. TheStreet upgraded SLM from a c+ rating to a b rating in a research report on Wednesday, January 24th. Royal Bank of Canada upped their price target on shares of SLM from $21.00 to $22.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of SLM in a report on Wednesday, January 10th. They issued a buy rating and a $25.00 price target on the stock. Citigroup raised shares of SLM from a neutral rating to a buy rating and upped their price target for the stock from $14.00 to $23.00 in a report on Tuesday, January 16th. Finally, Wells Fargo & Company upped their price target on shares of SLM from $22.00 to $24.00 and gave the stock an overweight rating in a report on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $21.32.

SLM Stock Performance

SLM stock traded down $0.07 during trading on Thursday, hitting $21.86. The stock had a trading volume of 1,029,630 shares, compared to its average volume of 2,141,878. SLM has a 1 year low of $12.26 and a 1 year high of $22.37. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 3.21. The stock’s 50 day moving average is $20.91 and its two-hundred day moving average is $18.17. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 6.85, a price-to-earnings-growth ratio of 0.45 and a beta of 1.16.

SLM (NASDAQ:SLM) last posted its earnings results on Wednesday, April 24th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.18. The firm had revenue of $837.72 million for the quarter, compared to the consensus estimate of $376.43 million. SLM had a return on equity of 47.72% and a net margin of 25.15%. During the same quarter in the prior year, the business posted $0.47 earnings per share. As a group, analysts predict that SLM will post 2.72 EPS for the current year.

SLM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Thursday, June 6th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.01%. SLM’s dividend payout ratio (DPR) is currently 13.75%.

SLM declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 24th that authorizes the company to buyback $650.00 million in outstanding shares. This buyback authorization authorizes the credit services provider to repurchase up to 14.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Transactions at SLM

In other news, SVP Jonathan Boyles sold 94,078 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $20.72, for a total transaction of $1,949,296.16. Following the completion of the sale, the senior vice president now directly owns 52,751 shares in the company, valued at $1,093,000.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Jonathan Boyles sold 94,078 shares of SLM stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $20.72, for a total transaction of $1,949,296.16. Following the completion of the transaction, the senior vice president now directly owns 52,751 shares in the company, valued at $1,093,000.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donna F. Vieira sold 12,308 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $20.27, for a total transaction of $249,483.16. Following the sale, the executive vice president now directly owns 126,500 shares of the company’s stock, valued at approximately $2,564,155. The disclosure for this sale can be found here. 0.91% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SLM

Several institutional investors and hedge funds have recently made changes to their positions in SLM. Blue Trust Inc. grew its position in SLM by 81.4% in the 4th quarter. Blue Trust Inc. now owns 1,328 shares of the credit services provider’s stock worth $25,000 after purchasing an additional 596 shares during the period. Daiwa Securities Group Inc. bought a new stake in SLM in the 4th quarter worth approximately $29,000. Hexagon Capital Partners LLC grew its position 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 worth $29,000 after purchasing an additional 1,236 shares during the period. SYSTM Wealth Solutions LLC grew its position in SLM by 37.0% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 1,828 shares of the credit services provider’s stock worth $40,000 after purchasing an additional 494 shares during the period. Finally, Neo Ivy Capital Management bought a new stake in SLM in the 4th quarter worth approximately $40,000. 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.