SLM (NASDAQ:SLMBP) Trading Up 0.4% – Time to Buy?

SLM Co. (NASDAQ:SLMBP)’s stock price shot up 0.4% on Wednesday . The stock traded as high as $76.12 and last traded at $75.93. 7,458 shares were traded during mid-day trading, an increase of 42% from the average session volume of 5,252 shares. The stock had previously closed at $75.62.

SLM Stock Up 0.4 %

The company’s fifty day moving average is $74.37 and its two-hundred day moving average is $74.88.

SLM Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be issued a $1.5951 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.38 annualized dividend and a yield of 8.40%.

Institutional Trading of SLM

A hedge fund recently raised its stake in SLM stock. Shikiar Asset Management Inc. raised its stake in SLM Co. (NASDAQ:SLMBP) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,093 shares of the company’s stock after purchasing an additional 3,850 shares during the period. SLM accounts for about 2.3% of Shikiar Asset Management Inc.’s holdings, making the stock its 13th biggest position. Shikiar Asset Management Inc.’s holdings in SLM were worth $8,739,000 as of its most recent filing with the Securities & Exchange Commission.

About SLM

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.