Gator Capital Management LLC Grows Stock Holdings in SLM Corporation (NASDAQ:SLM)

Key Points

• Gator Capital Management LLC increased its stake in SLM Corporation by 6.8% during the first quarter, owning 405,805 shares, which represents 4.5% of its portfolio.
• SLM Corporation reported an earnings per share (EPS) of $0.32 for the most recent quarter, missing analysts’ expectations by $0.17, with a year-over-year revenue decline of 21.4%.
• The company declared a quarterly dividend of $0.13 per share, leading to an annualized dividend yield of 1.6%, to be paid out on September 15th.

Gator Capital Management LLC lifted its stake in SLM Corporation (NASDAQ:SLM - Free Report) by 6.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 405,805 shares of the credit services provider's stock after purchasing an additional 26,000 shares during the period. SLM accounts for 4.5% of Gator Capital Management LLC's portfolio, making the stock its 3rd largest position. Gator Capital Management LLC owned 0.19% of SLM worth $11,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the stock. American Century Companies Inc. lifted its stake in shares of SLM by 2.9% in the 1st quarter. American Century Companies Inc. now owns 5,325,274 shares of the credit services provider's stock valued at $156,403,000 after purchasing an additional 149,629 shares during the period. Fox Run Management L.L.C. acquired a new position in SLM in the first quarter valued at about $375,000. Vestmark Advisory Solutions Inc. acquired a new position in SLM in the first quarter valued at about $473,000. Neuberger Berman Group LLC boosted its holdings in SLM by 13.1% during the first quarter. Neuberger Berman Group LLC now owns 30,647 shares of the credit services provider's stock worth $900,000 after buying an additional 3,555 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of SLM by 8.9% during the 1st quarter. Russell Investments Group Ltd. now owns 706,016 shares of the credit services provider's stock worth $20,516,000 after buying an additional 57,711 shares during the period. Institutional investors own 98.94% of the company's stock.

Insiders Place Their Bets

In other SLM news, EVP Kerri A. Palmer sold 55,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $32.21, for a total value of $1,771,550.00. Following the completion of the sale, the executive vice president owned 119,253 shares of the company's stock, valued at approximately $3,841,139.13. This trade represents a 31.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company's stock.

SLM Stock Down 0.3%

Shares of NASDAQ:SLM opened at $32.99 on Friday. The firm has a market cap of $6.88 billion, a P/E ratio of 16.58, a P/E/G ratio of 0.93 and a beta of 1.13. SLM Corporation has a 12-month low of $19.64 and a 12-month high of $34.97. The business has a fifty day simple moving average of $32.47 and a 200 day simple moving average of $30.74. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 3.02.

SLM (NASDAQ:SLM - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The credit services provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.17). SLM had a return on equity of 21.93% and a net margin of 15.46%. The firm had revenue of $403.60 million during the quarter, compared to analyst estimates of $370.26 million. During the same quarter last year, the firm posted $1.11 EPS. The firm's revenue for the quarter was down 21.4% on a year-over-year basis. Analysts predict that SLM Corporation will post 3.07 earnings per share for the current year.

SLM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, September 4th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Thursday, September 4th. SLM's payout ratio is 26.13%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SLM. Barclays raised their price target on SLM from $38.00 to $43.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Wells Fargo & Company lifted their price target on shares of SLM from $34.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. raised shares of SLM from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $29.00 to $38.00 in a research report on Friday, July 11th. Jefferies Financial Group raised their price objective on shares of SLM from $33.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of SLM in a research note on Monday, July 14th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $35.00.

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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