Bank of America Corp DE Invests $37.27 Million in SLM Corporation $SLM

Bank of America Corp DE bought a new stake in SLM Corporation (NASDAQ:SLM - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,436,695 shares of the credit services provider's stock, valued at approximately $37,268,000. Bank of America Corp DE owned about 0.76% of SLM at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SLM. BlackRock Inc. bought a new stake in SLM in the 2nd quarter valued at about $455,576,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of SLM during the second quarter worth approximately $169,136,000. Bank of New York Mellon Corp bought a new position in shares of SLM during the second quarter worth approximately $39,251,000. Act Two Investors LLC acquired a new stake in shares of SLM in the second quarter valued at approximately $18,593,000. Finally, Man Group plc acquired a new stake in shares of SLM in the second quarter valued at approximately $10,017,000. Institutional investors own 98.94% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SLM. Zacks Research downgraded SLM from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Weiss Ratings reissued a "hold (c+)" rating on shares of SLM in a report on Monday, September 14th. Wells Fargo & Company set a $28.00 target price on shares of SLM in a research report on Friday, July 24th. Royal Bank Of Canada increased their price target on shares of SLM from $28.00 to $29.00 and gave the stock an "outperform" rating in a research report on Friday, July 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of SLM from $24.00 to $25.00 and gave the company an "underweight" rating in a research note on Monday, July 13th. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $29.80.

SLM Stock Performance

Shares of SLM stock opened at $25.07 on Tuesday. The stock has a market capitalization of $4.71 billion, a PE ratio of 7.00, a PEG ratio of 2.18 and a beta of 0.96. The business's 50 day simple moving average is $26.23 and its 200 day simple moving average is $23.64. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.33 and a quick ratio of 1.32. SLM Corporation has a one year low of $17.77 and a one year high of $31.06.

SLM (NASDAQ:SLM - Get Free Report) last announced its earnings results on Thursday, July 23rd. The credit services provider reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.17). SLM had a return on equity of 33.81% and a net margin of 26.09%.The firm had revenue of $401.11 million for the quarter, compared to the consensus estimate of $409.22 million. During the same period in the prior year, the business earned $0.32 EPS. SLM's quarterly revenue was down .7% on a year-over-year basis. SLM has set its FY 2026 guidance at 3.100-3.200 EPS. As a group, research analysts forecast that SLM Corporation will post 3.12 earnings per share for the current year.

SLM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, September 4th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, September 4th. SLM's dividend payout ratio (DPR) is 14.53%.

SLM Company Profile

SLM Corporation, commonly known as Sallie Mae, is a U.S.-based education finance company that provides private education loans to undergraduate and graduate students, as well as to parents and other borrowers. Its lending products are designed to help cover tuition, fees, housing, books and other qualified education expenses not fully met by federal financial aid or other funding sources.

Through Sallie Mae Bank, the company also offers consumer deposit products, including savings accounts, certificates of deposit and money market accounts.

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