1,270,579 Shares in SLM Corporation (NASDAQ:SLM) Purchased by M.D. Sass LLC

Key Points

• M.D. Sass LLC has invested approximately $37.32 million to acquire 1,270,579 shares in SLM Corporation, making it the firm's 16th largest holding.
• SLM Corporation reported $0.32 earnings per share for the last quarter, missing the consensus estimate by $0.17, and had a revenue of $403.60 million.
• SLM announced a quarterly dividend of $0.13 per share, yielding 1.7%, scheduled for payment on September 15th.

M.D. Sass LLC purchased a new position in SLM Corporation (NASDAQ:SLM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,270,579 shares of the credit services provider's stock, valued at approximately $37,317,000. SLM makes up approximately 3.3% of M.D. Sass LLC's investment portfolio, making the stock its 16th biggest holding. M.D. Sass LLC owned about 0.61% of SLM as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. J.Safra Asset Management Corp bought a new position in SLM during the 1st quarter valued at about $25,000. Fifth Third Bancorp boosted its holdings in SLM by 37.7% during the 1st quarter. Fifth Third Bancorp now owns 1,714 shares of the credit services provider's stock valued at $50,000 after acquiring an additional 469 shares during the period. UMB Bank n.a. grew its position in SLM by 355.4% in the 1st quarter. UMB Bank n.a. now owns 1,899 shares of the credit services provider's stock valued at $56,000 after acquiring an additional 1,482 shares during the last quarter. CENTRAL TRUST Co bought a new stake in shares of SLM during the first quarter worth $132,000. Finally, Mariner LLC purchased a new stake in shares of SLM during the fourth quarter valued at $205,000. 98.94% of the stock is owned by institutional investors.

SLM Stock Performance

NASDAQ:SLM traded down $0.16 during trading hours on Thursday, reaching $31.68. The company had a trading volume of 267,069 shares, compared to its average volume of 2,590,103. The company has a debt-to-equity ratio of 3.02, a current ratio of 1.35 and a quick ratio of 1.35. SLM Corporation has a 1-year low of $19.64 and a 1-year high of $34.97. The business's 50 day moving average price is $32.48 and its 200-day moving average price is $30.60. The firm has a market cap of $6.60 billion, a PE ratio of 15.87, 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 data 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). 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 company posted $1.11 EPS. The company's revenue was down 21.4% on a year-over-year basis. Research analysts forecast that SLM Corporation will post 3.07 EPS for the current year.

SLM Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Jefferies Financial Group boosted their price objective on shares of SLM from $33.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Morgan Stanley reiterated an "overweight" rating and set a $40.00 target price (up from $33.00) on shares of SLM in a report on Wednesday, May 21st. Royal Bank Of Canada reiterated an "outperform" rating on shares of SLM in a research note on Monday, July 14th. Barclays boosted 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. Finally, JPMorgan Chase & Co. upgraded SLM from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $29.00 to $38.00 in a research note on Friday, July 11th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, SLM currently has an average rating of "Moderate Buy" and a consensus target price of $35.00.

Insider Buying and Selling at SLM

In other news, EVP Kerri A. Palmer sold 55,000 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president directly owned 119,253 shares of the company's stock, valued at approximately $3,841,139.13. The trade was a 31.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

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.