Wells Fargo & Company Raises SLM (NASDAQ:SLM) Price Target to $24.00

SLM (NASDAQ:SLM - Get Free Report) had its price target upped by equities researchers at Wells Fargo & Company from $22.00 to $24.00 in a report released on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the credit services provider's stock. Wells Fargo & Company's price objective would suggest a potential upside of 15.50% from the stock's current price.

Several other analysts have also recently commented on SLM. JPMorgan Chase & Co. lifted their price objective on shares of SLM from $20.00 to $22.00 and gave the company a "neutral" rating in a research note on Wednesday, April 3rd. Royal Bank of Canada increased their price target on SLM from $21.00 to $22.00 and gave the stock an "outperform" rating in a research report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft started coverage on SLM in a research note on Wednesday, January 10th. They set a "buy" rating and a $25.00 price objective for the company. Citigroup upgraded SLM from a "neutral" rating to a "buy" rating and upped their target price for the stock from $14.00 to $23.00 in a research note on Tuesday, January 16th. Finally, TheStreet upgraded SLM from a "c+" rating to a "b" rating in a research report on Wednesday, January 24th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $20.32.

SLM Stock Up 1.0 %

Shares of SLM stock traded up $0.20 during trading hours on Thursday, reaching $20.78. 1,428,749 shares of the company's stock were exchanged, compared to its average volume of 2,166,511. SLM has a 1 year low of $12.26 and a 1 year high of $21.94. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 3.21. The stock has a market cap of $4.58 billion, a PE ratio of 8.66, a PEG ratio of 0.42 and a beta of 1.16. The stock's fifty day moving average price is $20.73 and its two-hundred day moving average price is $17.88.

SLM (NASDAQ:SLM - Get Free Report) last released its earnings results on Tuesday, January 30th. The credit services provider reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.15). SLM had a return on equity of 36.86% and a net margin of 20.65%. The company had revenue of $725.66 million for the quarter, compared to analysts' expectations of $379.20 million. During the same period in the prior year, the firm posted ($0.33) EPS. Research analysts predict that SLM will post 2.72 EPS for the current year.

SLM announced that its Board of Directors has approved a stock buyback program on Wednesday, January 24th that permits the company to buyback $650.00 million in shares. This buyback authorization permits the credit services provider to purchase up to 14.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Insider Activity at SLM

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC boosted its stake in SLM by 1,373.3% during the first quarter. Hexagon Capital Partners LLC now owns 1,326 shares of the credit services provider's stock worth $29,000 after buying an additional 1,236 shares during the period. Blue Trust Inc. lifted its holdings in shares of SLM by 81.4% in the 4th quarter. Blue Trust Inc. now owns 1,328 shares of the credit services provider's stock worth $25,000 after acquiring an additional 596 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of SLM during the 4th quarter worth approximately $29,000. Neo Ivy Capital Management acquired a new stake in SLM in the 4th quarter valued at approximately $40,000. Finally, Headlands Technologies LLC increased its holdings in SLM by 46.4% in the 4th quarter. Headlands Technologies LLC now owns 2,330 shares of the credit services provider's stock valued at $45,000 after purchasing an additional 739 shares during the last quarter. 98.94% of the stock is currently owned by institutional investors and hedge funds.

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.