Bank of America Corp DE Sells 96,277 Shares of SLM Co. (NASDAQ:SLM)

Bank of America Corp DE reduced its position in shares of SLM Co. (NASDAQ:SLM - Free Report) by 18.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 425,058 shares of the credit services provider's stock after selling 96,277 shares during the quarter. Bank of America Corp DE owned approximately 0.20% of SLM worth $11,723,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amundi increased its position in SLM by 103.4% during the 4th quarter. Amundi now owns 135,014 shares of the credit services provider's stock valued at $3,712,000 after purchasing an additional 68,632 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in SLM by 9.2% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 223,692 shares of the credit services provider's stock valued at $6,169,000 after purchasing an additional 18,754 shares during the period. Boston Partners increased its position in SLM by 3.9% during the 4th quarter. Boston Partners now owns 12,246,797 shares of the credit services provider's stock valued at $338,889,000 after purchasing an additional 456,415 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in SLM during the 4th quarter valued at $235,000. Finally, Discovery Capital Management LLC CT purchased a new position in SLM during the 4th quarter valued at $5,775,000. 98.94% of the stock is currently owned by institutional investors.

SLM Stock Performance

SLM stock opened at $33.65 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.32 and a debt-to-equity ratio of 3.37. The company has a market capitalization of $7.06 billion, a P/E ratio of 12.70, a PEG ratio of 0.86 and a beta of 1.05. The stock's 50 day moving average is $29.31 and its 200 day moving average is $28.35. SLM Co. has a twelve month low of $19.39 and a twelve month high of $33.94.

SLM (NASDAQ:SLM - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The credit services provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.21. The company had revenue of $374.97 million for the quarter, compared to the consensus estimate of $359.83 million. SLM had a return on equity of 31.66% and a net margin of 20.73%. The firm's quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.27 EPS. On average, equities research analysts predict that SLM Co. will post 3.07 earnings per share for the current fiscal year.

SLM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, June 5th will be paid a $0.13 dividend. The ex-dividend date is Thursday, June 5th. This represents a $0.52 annualized dividend and a dividend yield of 1.55%. SLM's payout ratio is currently 18.71%.

Insider Buying and Selling

In other SLM news, Director Robert S. Strong sold 3,000 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $31.15, for a total transaction of $93,450.00. Following the sale, the director now directly owns 35,195 shares in the company, valued at approximately $1,096,324.25. This trade represents a 7.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SLM. Compass Point boosted their price objective on shares of SLM from $31.00 to $34.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods boosted their price objective on shares of SLM from $30.00 to $32.00 and gave the company a "market perform" rating in a research report on Friday, January 24th. Wells Fargo & Company boosted their price objective on shares of SLM from $34.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. Barclays boosted their price objective on shares of SLM from $34.00 to $38.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Finally, Morgan Stanley boosted their price objective on shares of SLM from $33.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.82.

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.

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