Oak Thistle LLC Acquires New Shares in SLM Corporation (NASDAQ:SLM)

Oak Thistle LLC acquired a new stake in shares of SLM Corporation (NASDAQ:SLM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 32,286 shares of the credit services provider's stock, valued at approximately $948,000.

A number of other hedge funds have also made changes to their positions in the stock. FMR LLC increased its stake in shares of SLM by 39.0% during the fourth quarter. FMR LLC now owns 7,529,496 shares of the credit services provider's stock valued at $207,664,000 after acquiring an additional 2,111,699 shares during the period. Capital Research Global Investors acquired a new position in SLM in the fourth quarter worth approximately $144,101,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in SLM in the fourth quarter worth approximately $140,442,000. Geode Capital Management LLC grew its position in SLM by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 4,817,771 shares of the credit services provider's stock worth $132,906,000 after buying an additional 55,443 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in SLM by 22.9% in the first quarter. Bank of New York Mellon Corp now owns 2,981,771 shares of the credit services provider's stock worth $87,575,000 after buying an additional 554,931 shares during the last quarter. Institutional investors and hedge funds own 98.94% of the company's stock.

SLM Stock Up 2.3%

Shares of NASDAQ:SLM traded up $0.73 during trading on Friday, reaching $32.74. 4,763,027 shares of the company traded hands, compared to its average volume of 2,087,752. The firm has a fifty day simple moving average of $32.75 and a 200 day simple moving average of $30.38. The firm has a market cap of $6.87 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 0.73 and a beta of 1.09. SLM Corporation has a 1-year low of $19.39 and a 1-year high of $34.97. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 2.86.

SLM (NASDAQ:SLM - Get Free Report) last issued its 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). The company had revenue of $403.60 million for the quarter, compared to analyst estimates of $370.26 million. SLM had a net margin of 15.46% and a return on equity of 22.33%. The company's quarterly revenue was down 21.4% on a year-over-year basis. During the same period last year, the business earned $1.11 EPS. Analysts anticipate that SLM Corporation will post 3.07 earnings per share for the current fiscal year.

SLM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Thursday, September 4th. SLM's dividend payout ratio (DPR) is currently 18.71%.

Insider Activity

In related news, Director Robert S. Strong sold 3,000 shares of SLM stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $31.15, for a total value of $93,450.00. Following the completion of the sale, the director owned 35,195 shares of the company's stock, valued at approximately $1,096,324.25. The trade was a 7.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Wells Fargo & Company lifted their price target on shares of SLM from $34.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. 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 research note on Wednesday. Barclays raised their price objective on shares of SLM from $38.00 to $43.00 and gave the stock an "overweight" rating in a research note on Friday. JPMorgan Chase & Co. raised shares of SLM from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $29.00 to $38.00 in a research note on Friday, July 11th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $40.00 price objective (up previously from $33.00) on shares of SLM in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.

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.