Morgan Stanley Cuts SLM (NASDAQ:SLM) Price Target to $36.00

Key Points

• Morgan Stanley has reduced its price target for SLM from $37.00 to $36.00, maintaining an "overweight" rating on the stock, which indicates a potential upside of 34.68% from the previous close.
• Other analysts have also lowered their targets, with Barclays setting a new target of $35.00 and Keefe, Bruyette & Woods reducing theirs to $31.00.
• SLM's stock has recently faced slight declines, opening at $26.73, with a twelve-month low recorded at $21.10.

SLM (NASDAQ:SLM - Get Free Report) had its price objective reduced by stock analysts at Morgan Stanley from $37.00 to $36.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the credit services provider's stock. Morgan Stanley's target price would suggest a potential upside of 34.68% from the stock's previous close.

SLM has been the topic of a number of other research reports. Barclays lowered their price objective on shares of SLM from $43.00 to $35.00 and set an "overweight" rating on the stock in a research report on Monday, October 6th. Wells Fargo & Company assumed coverage on shares of SLM in a research note on Monday, August 25th. They set an "overweight" rating and a $38.00 price target on the stock. Weiss Ratings restated a "hold (c)" rating on shares of SLM in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods decreased their target price on SLM from $37.00 to $31.00 and set a "market perform" rating on the stock in a report on Wednesday, October 1st. Finally, Wall Street Zen cut SLM from a "hold" rating to a "sell" rating in a report on Saturday, October 11th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.25.

SLM Stock Down 1.0%

Shares of SLM stock opened at $26.73 on Friday. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 0.77 and a beta of 1.11. The company's 50 day moving average is $28.65 and its 200 day moving average is $30.46. SLM has a twelve month low of $21.10 and a twelve month high of $34.97. 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 (NASDAQ:SLM - Get Free Report) last issued its quarterly earnings data on Monday, February 14th. The credit services provider reported $1.15 earnings per share for the quarter. The company had revenue of ($3.44) million for the quarter. SLM had a net margin of 15.46% and a return on equity of 21.93%. SLM has set its FY 2022 guidance at $2.800-$3.000 EPS. Research analysts anticipate that SLM will post 3.07 EPS for the current year.

Insider Activity at SLM

In other news, EVP Kerri A. Palmer sold 55,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $32.21, for a total transaction of $1,771,550.00. Following the sale, the executive vice president directly owned 119,253 shares in the company, valued at $3,841,139.13. This trade represents a 31.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by insiders.

Institutional Trading of SLM

Several institutional investors and hedge funds have recently modified their holdings of SLM. J.Safra Asset Management Corp bought a new stake in shares of SLM during the 1st quarter valued at $25,000. City Holding Co. bought a new stake in shares of SLM during the 2nd quarter valued at $25,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of SLM during the 1st quarter valued at $45,000. Headlands Technologies LLC bought a new stake in shares of SLM during the 1st quarter valued at $62,000. Finally, Anchor Investment Management LLC bought a new stake in shares of SLM during the 1st quarter valued at $94,000. 98.94% of the stock is currently owned by institutional investors.

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.

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