SLM (NASDAQ:SLM) Rating Reiterated by Wedbush

SLM (NASDAQ:SLM)‘s stock had its “outperform” rating reissued by Wedbush in a report issued on Thursday, Benzinga reports. They presently have a $28.00 price objective on the credit services provider’s stock. Wedbush’s price objective points to a potential upside of 33.27% from the stock’s current price.

A number of other research firms have also weighed in on SLM. JPMorgan Chase & Co. boosted their target price on SLM from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Wells Fargo & Company increased their price objective on shares of SLM from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Royal Bank of Canada lifted their target price on shares of SLM from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Finally, TheStreet raised shares of SLM from a “c+” rating to a “b” rating in a report on Wednesday, January 24th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.32.

SLM Stock Performance

Shares of SLM stock opened at $21.01 on Thursday. The firm has a market cap of $4.62 billion, a PE ratio of 6.57, a P/E/G ratio of 0.43 and a beta of 1.17. SLM has a 12 month low of $12.26 and a 12 month high of $22.74. The company’s fifty day simple moving average is $21.27 and its 200-day simple moving average is $19.02. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 2.67.

SLM (NASDAQ:SLM) last released its earnings results on Wednesday, April 24th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.18. SLM had a return on equity of 45.65% and a net margin of 25.15%. The business had revenue of $837.72 million for the quarter, compared to the consensus estimate of $376.43 million. During the same quarter in the previous year, the business earned $0.47 earnings per share. Equities research analysts expect that SLM will post 2.75 EPS for the current fiscal year.

SLM declared that its board has initiated a stock repurchase program on Wednesday, January 24th that permits the company to buyback $650.00 million in shares. This buyback authorization permits the credit services provider to reacquire up to 14.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Transactions at SLM

In other news, SVP Jonathan Boyles sold 94,078 shares of SLM stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $20.72, for a total value of $1,949,296.16. Following the completion of the transaction, the senior vice president now directly owns 52,751 shares of the company’s stock, valued at approximately $1,093,000.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.91% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SYSTM Wealth Solutions LLC lifted 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 valued at $40,000 after acquiring an additional 494 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of SLM by 7.7% in the fourth quarter. Signaturefd LLC now owns 7,891 shares of the credit services provider’s stock valued at $151,000 after purchasing an additional 565 shares in the last quarter. Blue Trust Inc. boosted its position in shares of SLM by 81.4% during the fourth quarter. Blue Trust Inc. now owns 1,328 shares of the credit services provider’s stock valued at $25,000 after buying an additional 596 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in SLM by 3.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,959 shares of the credit services provider’s stock worth $478,000 after buying an additional 664 shares in the last quarter. Finally, Headlands Technologies LLC raised its position in SLM by 46.4% in the 4th quarter. Headlands Technologies LLC now owns 2,330 shares of the credit services provider’s stock valued at $45,000 after buying an additional 739 shares during the last quarter. 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.