Steamboat Capital Partners LLC Purchases 200,192 Shares of SLM Corporation $SLM

Key Points

• Steamboat Capital Partners LLC increased its holdings in SLM Corporation by 401.9%, owning 250,000 shares worth approximately $7.34 million, making SLM its 18th largest holding.
• SLM reported earnings of $0.32 per share for the recent quarter, falling short of analyst estimates by $0.17, with a revenue of $403.6 million, down 21.4% year-over-year.
• The company announced a quarterly dividend of $0.13 per share, with an annualized yield of 1.7%, and a payout ratio of 26.13%.

Steamboat Capital Partners LLC raised its stake in shares of SLM Corporation (NASDAQ:SLM - Free Report) by 401.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 250,000 shares of the credit services provider's stock after buying an additional 200,192 shares during the period. SLM comprises about 2.2% of Steamboat Capital Partners LLC's investment portfolio, making the stock its 18th biggest holding. Steamboat Capital Partners LLC owned 0.12% of SLM worth $7,342,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. AlphaQuest LLC boosted its stake in shares of SLM by 1.1% during the 1st quarter. AlphaQuest LLC now owns 36,509 shares of the credit services provider's stock valued at $1,072,000 after buying an additional 408 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of 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 valued at $724,000 after buying an additional 440 shares during the period. ProShare Advisors LLC grew its position in SLM by 4.8% in the fourth quarter. ProShare Advisors LLC now owns 9,935 shares of the credit services provider's stock worth $274,000 after acquiring an additional 455 shares in the last quarter. Merit Financial Group LLC grew its position in SLM by 6.4% in the first quarter. Merit Financial Group LLC now owns 7,800 shares of the credit services provider's stock worth $229,000 after acquiring an additional 469 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in SLM by 37.7% in the first quarter. Fifth Third Bancorp now owns 1,714 shares of the credit services provider's stock worth $50,000 after acquiring an additional 469 shares in the last quarter. Institutional investors and hedge funds own 98.94% of the company's stock.

SLM Stock Performance

NASDAQ SLM traded up $1.03 during midday trading on Thursday, hitting $31.77. The company had a trading volume of 1,578,976 shares, compared to its average volume of 2,512,142. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 3.02. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 15.96, a P/E/G ratio of 0.88 and a beta of 1.11. The firm has a fifty day simple moving average of $32.29 and a two-hundred day simple moving average of $30.92. SLM Corporation has a fifty-two week low of $19.64 and a fifty-two week high of $34.97.

SLM (NASDAQ:SLM - Get Free Report) last announced its quarterly earnings data 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 net margin of 15.46% and a return on equity of 21.93%. The business had revenue of $403.60 million during the quarter, compared to analyst estimates of $370.26 million. During the same quarter in the prior year, the company posted $1.11 EPS. The company's quarterly revenue was down 21.4% compared to the same quarter last year. SLM has set its FY 2025 guidance at 3.000-3.100 EPS. Equities analysts forecast that SLM Corporation will post 3.07 earnings per share for the current fiscal year.

SLM Dividend Announcement

The company 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 $0.13 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. SLM's dividend payout ratio is presently 26.13%.

Insider Buying and Selling at SLM

In other news, EVP Kerri A. Palmer sold 55,000 shares of the company's stock in a transaction dated 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 owned 119,253 shares of the company's stock, valued at approximately $3,841,139.13. This represents a 31.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

SLM has been the subject of several recent research reports. Morgan Stanley reissued an "overweight" rating and issued a $40.00 target price (up from $33.00) on shares of SLM in a research report on Wednesday, May 21st. Royal Bank Of Canada reissued an "outperform" rating on shares of SLM in a research report on Monday, July 14th. Wells Fargo & Company initiated coverage on shares of SLM in a research note on Monday, August 25th. They issued an "overweight" rating and a $38.00 price objective for the company. JPMorgan Chase & Co. upgraded shares of SLM from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $29.00 to $38.00 in a research note on Friday, July 11th. Finally, Barclays boosted 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, July 25th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $35.00.

About SLM

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.