GSA Capital Partners LLP Invests $657,000 in SLM Corporation (NASDAQ:SLM)

Key Points

• GSA Capital Partners LLP has made a new investment of $657,000 in SLM Corporation by acquiring 22,357 shares of the company.
• SLM Corporation reported a missed earnings estimate of $0.32 per share, compared to the expected $0.49, with revenues of $403.60 million for the quarter.
• SLM announced a quarterly dividend of $0.13 per share, with a dividend yield of 1.7% and a payout ratio of 26.13%.

GSA Capital Partners LLP bought a new stake in SLM Corporation (NASDAQ:SLM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 22,357 shares of the credit services provider's stock, valued at approximately $657,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State of Alaska Department of Revenue lifted its holdings in SLM by 1.8% during the 1st quarter. State of Alaska Department of Revenue now owns 24,657 shares of the credit services provider's stock worth $724,000 after purchasing an additional 440 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of SLM by 4.8% during the 4th quarter. ProShare Advisors LLC now owns 9,935 shares of the credit services provider's stock worth $274,000 after buying an additional 455 shares in the last quarter. Merit Financial Group LLC grew its holdings in shares of SLM by 6.4% during the first quarter. Merit Financial Group LLC now owns 7,800 shares of the credit services provider's stock worth $229,000 after purchasing an additional 469 shares during the last quarter. Fifth Third Bancorp grew its position in shares of SLM by 37.7% in the 1st quarter. Fifth Third Bancorp now owns 1,714 shares of the credit services provider's stock valued at $50,000 after buying an additional 469 shares during the last quarter. Finally, Kaizen Financial Strategies grew its position in shares of SLM by 7.5% in the 1st quarter. Kaizen Financial Strategies now owns 9,177 shares of the credit services provider's stock valued at $270,000 after buying an additional 639 shares during the last quarter. Institutional investors and hedge funds own 98.94% of the company's stock.

SLM Price Performance

Shares of SLM stock traded down $0.35 during mid-day trading on Thursday, hitting $31.49. 750,240 shares of the stock were exchanged, compared to its average volume of 2,593,467. The firm has a fifty day moving average of $32.48 and a 200 day moving average of $30.60. 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 Corporation has a 52-week low of $19.64 and a 52-week high of $34.97. The company has a market cap of $6.56 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 0.90 and a beta of 1.13.

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 for the quarter, missing analysts' consensus estimates of $0.49 by ($0.17). The company had revenue of $403.60 million during the quarter, compared to analysts' expectations of $370.26 million. SLM had a net margin of 15.46% and a return on equity of 21.93%. The company's quarterly revenue was down 21.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.11 earnings per share. Research analysts anticipate that SLM Corporation will post 3.07 earnings per share for the current year.

SLM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, September 4th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 4th. SLM's dividend payout ratio (DPR) is currently 26.13%.

Analyst Upgrades and Downgrades

SLM has been the topic of several recent research reports. Morgan Stanley reiterated an "overweight" rating and issued a $40.00 price target (up previously from $33.00) on shares of SLM in a report on Wednesday, May 21st. Jefferies Financial Group raised their target price on SLM from $33.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada restated an "outperform" rating on shares of SLM in a report on Monday, July 14th. Wells Fargo & Company lifted their price target on SLM from $34.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. upgraded SLM from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $29.00 to $38.00 in a report on Friday, July 11th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, SLM currently has an average rating of "Moderate Buy" and an average target price of $35.00.

Insider Buying and Selling

In related news, EVP Kerri A. Palmer sold 55,000 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were 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 directly owned 119,253 shares of the company's stock, valued at $3,841,139.13. The trade was a 31.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by corporate insiders.

SLM 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.