Public Employees Retirement System of Ohio bought a new stake in SLM Corporation (NASDAQ:SLM - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 53,117 shares of the credit services provider's stock, valued at approximately $1,378,000.
Other hedge funds also recently made changes to their positions in the company. Capstone Investment Advisors LLC bought a new position in SLM in the second quarter worth $528,000. Corient Private Wealth LP bought a new stake in shares of SLM during the 2nd quarter valued at $411,000. Azora Capital LP bought a new stake in shares of SLM during the 2nd quarter valued at $97,917,000. Bank of America Corp DE purchased a new stake in shares of SLM in the 2nd quarter worth about $37,268,000. Finally, Man Group plc purchased a new stake in shares of SLM in the 2nd quarter worth about $10,017,000. 98.94% of the stock is currently owned by institutional investors.
SLM Stock Performance
Shares of SLM stock opened at $27.08 on Tuesday. SLM Corporation has a one year low of $17.77 and a one year high of $32.02. The company's 50-day moving average is $26.12 and its 200 day moving average is $23.30. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of 7.56, a price-to-earnings-growth ratio of 2.35 and a beta of 0.96. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.32 and a current ratio of 1.33.
SLM (NASDAQ:SLM - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The credit services provider reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.17). The firm had revenue of $401.11 million for the quarter, compared to the consensus estimate of $409.22 million. SLM had a net margin of 26.09% and a return on equity of 33.81%. The firm's revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 earnings per share. SLM has set its FY 2026 guidance at 3.100-3.200 EPS. Sell-side analysts expect that SLM Corporation will post 3.12 EPS for the current fiscal year.
SLM Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, September 4th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, September 4th. SLM's payout ratio is presently 14.53%.
Analyst Upgrades and Downgrades
SLM has been the subject of a number of recent research reports. Weiss Ratings raised shares of SLM from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, June 18th. Wells Fargo & Company set a $28.00 price objective on shares of SLM in a report on Friday, July 24th. Wall Street Zen cut shares of SLM from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. Morgan Stanley raised their target price on shares of SLM from $27.00 to $28.00 and gave the company an "equal weight" rating in a research note on Monday, July 20th. Finally, Royal Bank Of Canada boosted their price target on SLM from $28.00 to $29.00 and gave the stock an "outperform" rating in a research report on Friday, July 10th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $29.80.
Read Our Latest Stock Report on SLM
About SLM
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding SLM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SLM Corporation (NASDAQ:SLM - Free Report).
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