BlackRock Inc. Buys Shares of 17,562,699 SLM Corporation $SLM

BlackRock Inc. acquired a new stake in SLM Corporation (NASDAQ:SLM - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 17,562,699 shares of the credit services provider's stock, valued at approximately $455,576,000. BlackRock Inc. owned approximately 9.34% of SLM at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp bought a new stake in SLM during the second quarter worth approximately $39,251,000. Goldman Sachs Group Inc. grew its holdings in SLM by 33.4% during the first quarter. Goldman Sachs Group Inc. now owns 547,724 shares of the credit services provider's stock worth $16,087,000 after acquiring an additional 137,285 shares during the period. SG Americas Securities LLC lifted its holdings in SLM by 63.1% in the 1st quarter. SG Americas Securities LLC now owns 261,392 shares of the credit services provider's stock valued at $5,596,000 after acquiring an additional 101,120 shares during the last quarter. Entropy Technologies LP lifted its holdings in SLM by 616.6% in the 3rd quarter. Entropy Technologies LP now owns 109,485 shares of the credit services provider's stock valued at $3,031,000 after acquiring an additional 94,207 shares during the last quarter. Finally, Baxter Bros Inc. bought a new position in shares of SLM during the 2nd quarter valued at about $1,675,000. Institutional investors and hedge funds own 98.94% of the company's stock.

SLM Price Performance

Shares of NASDAQ:SLM opened at $26.34 on Tuesday. The company has a market cap of $4.95 billion, a price-to-earnings ratio of 7.36, a PEG ratio of 2.30 and a beta of 0.96. The business has a 50 day moving average price of $25.57 and a 200 day moving average price of $23.25. The company has a quick ratio of 1.32, a current ratio of 1.33 and a debt-to-equity ratio of 2.63. SLM Corporation has a twelve month low of $17.77 and a twelve month high of $32.07.

SLM (NASDAQ:SLM - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The credit services provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.17). SLM had a return on equity of 33.81% and a net margin of 26.09%.The business had revenue of $401.11 million during the quarter, compared to the consensus estimate of $409.22 million. During the same period in the prior year, the firm earned $0.32 earnings per share. The business'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. Research analysts predict that SLM Corporation will post 3.12 earnings per share for the current year.

SLM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, September 4th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, September 4th. SLM's dividend payout ratio is presently 14.53%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wells Fargo & Company set a $28.00 price target on SLM in a report on Friday, July 24th. JPMorgan Chase & Co. increased their price objective on SLM from $24.00 to $25.00 and gave the stock an "underweight" rating in a report on Monday, July 13th. Zacks Research downgraded SLM from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. Morgan Stanley increased their price target on SLM from $27.00 to $28.00 and gave the company an "equal weight" rating in a report on Monday, July 20th. Finally, Wall Street Zen cut shares of SLM from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, SLM currently has a consensus rating of "Hold" and a consensus target price of $29.80.

About SLM

SLM Corporation, operating as Sallie Mae Bank, is a leading U.S.-based consumer banking company specializing in education financing and related banking products. The company provides a range of private student loans for undergraduate and graduate studies, Parent PLUS loans, and specialized financing for career and certificate programs. In addition to its core lending services, Sallie Mae offers deposit products including savings accounts, checking accounts, money market accounts, certificates of deposit, and credit cards tailored to students and young adults.

Founded in 1972 as the Student Loan Marketing Association—a government-sponsored enterprise—Sallie Mae was privatized in 2004 and has since focused on expanding its private education loan offerings and digital banking solutions.

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