SLM (NASDAQ:SLM) Rating Reiterated by Wedbush

SLM (NASDAQ:SLM)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a report issued on Tuesday, Zacks.com reports.

Several other research firms also recently weighed in on SLM. JPMorgan Chase & Co. boosted their price target on SLM from $7.50 to $9.00 and gave the company a “neutral” rating in a research note on Friday, October 9th. Zacks Investment Research downgraded SLM from a “hold” rating to a “strong sell” rating and set a $7.00 price target on the stock. in a research note on Wednesday, October 7th. Royal Bank of Canada initiated coverage on SLM in a report on Monday, December 21st. They issued a “sector perform” rating and a $14.00 price objective for the company. BidaskClub raised SLM from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 7th. Finally, TheStreet raised SLM from a “c” rating to a “b-” rating in a report on Wednesday, October 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. SLM presently has an average rating of “Hold” and an average price target of $11.14.

SLM stock opened at $13.50 on Tuesday. The company has a debt-to-equity ratio of 2.75, a quick ratio of 1.19 and a current ratio of 1.19. The business’s 50-day simple moving average is $12.09 and its two-hundred day simple moving average is $9.14. The company has a market cap of $5.07 billion, a PE ratio of 10.80 and a beta of 1.33. SLM has a fifty-two week low of $5.60 and a fifty-two week high of $13.78.

SLM (NASDAQ:SLM) last posted its quarterly earnings results on Wednesday, October 21st. The credit services provider reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.33. The business had revenue of $364.57 million for the quarter, compared to the consensus estimate of $359.42 million. SLM had a return on equity of 23.16% and a net margin of 21.15%. During the same quarter in the previous year, the business earned $0.29 EPS. As a group, analysts predict that SLM will post 1.09 EPS for the current fiscal year.

In related news, EVP Paul F. Thome sold 32,903 shares of the company’s stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $9.25, for a total value of $304,352.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.45% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its position in shares of SLM by 27.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,106,057 shares of the credit services provider’s stock valued at $81,758,000 after purchasing an additional 2,169,382 shares in the last quarter. HG Vora Capital Management LLC purchased a new position in SLM in the third quarter worth approximately $52,585,000. UBS Asset Management Americas Inc. grew its position in SLM by 836.8% in the third quarter. UBS Asset Management Americas Inc. now owns 5,653,803 shares of the credit services provider’s stock worth $45,739,000 after acquiring an additional 5,050,308 shares during the period. Ceredex Value Advisors LLC grew its position in SLM by 12.0% in the third quarter. Ceredex Value Advisors LLC now owns 5,628,737 shares of the credit services provider’s stock worth $45,536,000 after acquiring an additional 601,000 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in SLM by 65.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,235,098 shares of the credit services provider’s stock worth $42,352,000 after acquiring an additional 2,069,157 shares during the period.

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; omnibus accounts; and a consumer savings network that provides financial rewards on everyday purchases to help families save for college.

See Also: Are FAANG stocks a good investment?

Analyst Recommendations for SLM (NASDAQ:SLM)

Receive News & Ratings for SLM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SLM and related companies with MarketBeat.com's FREE daily email newsletter.