Research Analysts Offer Predictions for SLM Co.'s Q2 2024 Earnings (NASDAQ:SLM)

SLM Co. (NASDAQ:SLM - Free Report) - Stock analysts at Wedbush dropped their Q2 2024 earnings per share estimates for SLM in a research report issued to clients and investors on Thursday, April 25th. Wedbush analyst D. Chiaverini now expects that the credit services provider will post earnings per share of $0.44 for the quarter, down from their prior forecast of $0.45. Wedbush has a "Outperform" rating and a $28.00 price target on the stock. The consensus estimate for SLM's current full-year earnings is $2.72 per share. Wedbush also issued estimates for SLM's Q3 2024 earnings at $0.49 EPS, Q4 2024 earnings at $0.45 EPS, FY2024 earnings at $2.66 EPS, Q1 2025 earnings at $1.25 EPS, Q2 2025 earnings at $0.48 EPS, Q3 2025 earnings at $0.59 EPS and Q4 2025 earnings at $0.58 EPS.

A number of other equities research analysts have also recently issued reports on the company. Citigroup upgraded SLM from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $14.00 to $23.00 in a report on Tuesday, January 16th. JPMorgan Chase & Co. upped their price objective on SLM from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Thursday. TheStreet raised SLM from a "c+" rating to a "b" rating in a report on Wednesday, January 24th. Wells Fargo & Company upped their price target on shares of SLM from $22.00 to $24.00 and gave the company an "overweight" rating in a research note on Thursday, April 18th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of SLM in a research note on Wednesday, January 10th. They issued a "buy" rating and a $25.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, SLM has an average rating of "Moderate Buy" and an average price target of $21.32.

SLM Stock Down 0.1 %

SLM traded down $0.03 on Friday, hitting $21.90. 1,857,553 shares of the company were exchanged, compared to its average volume of 2,152,652. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.22 and a current ratio of 1.22. The stock's fifty day moving average is $20.94 and its 200-day moving average is $18.23. The company has a market cap of $4.83 billion, a PE ratio of 6.84, a PEG ratio of 0.45 and a beta of 1.16. SLM has a 12 month low of $12.26 and a 12 month high of $22.37.

SLM (NASDAQ:SLM - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The credit services provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.18. SLM had a net margin of 25.15% and a return on equity of 47.72%. The business had revenue of $837.72 million for the quarter, compared to analyst estimates of $376.43 million. During the same quarter last year, the firm earned $0.47 EPS.

SLM declared that its board has approved a share buyback plan on Wednesday, January 24th that permits the company to repurchase $650.00 million in shares. This repurchase authorization permits the credit services provider to buy up to 14.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

SLM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Thursday, June 6th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Wednesday, June 5th. SLM's dividend payout ratio is presently 13.75%.

Insider Transactions at SLM

In related news, EVP Donna F. Vieira sold 12,308 shares of SLM stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $20.27, for a total transaction of $249,483.16. Following the completion of the sale, the executive vice president now owns 126,500 shares of the company's stock, valued at $2,564,155. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other SLM news, EVP Donna F. Vieira sold 12,308 shares of the business's stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $20.27, for a total value of $249,483.16. Following the completion of the transaction, the executive vice president now owns 126,500 shares of the company's stock, valued at approximately $2,564,155. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Jonathan Boyles sold 94,078 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $20.72, for a total transaction of $1,949,296.16. Following the completion of the transaction, the senior vice president now directly owns 52,751 shares in the company, valued at approximately $1,093,000.72. The disclosure for this sale can be found here. Insiders own 0.91% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SLM. Assenagon Asset Management S.A. raised its holdings in shares of SLM by 967.5% during the third quarter. Assenagon Asset Management S.A. now owns 2,923,491 shares of the credit services provider's stock valued at $39,818,000 after acquiring an additional 2,649,626 shares in the last quarter. Norges Bank purchased a new position in SLM during the 4th quarter valued at $42,108,000. Boston Partners raised its holdings in SLM by 20.1% in the 4th quarter. Boston Partners now owns 11,786,932 shares of the credit services provider's stock worth $225,574,000 after purchasing an additional 1,969,885 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of SLM by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 33,136,784 shares of the credit services provider's stock worth $633,575,000 after purchasing an additional 1,151,557 shares during the period. Finally, Polaris Capital Management LLC lifted its position in shares of SLM by 34.1% in the 4th quarter. Polaris Capital Management LLC now owns 2,445,400 shares of the credit services provider's stock worth $46,756,000 after purchasing an additional 622,400 shares during the period. 98.94% of the stock is 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.