SLM Co. (NASDAQ:SLM) Short Interest Update

SLM Co. (NASDAQ:SLM - Get Free Report) was the recipient of a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 6,010,000 shares, a decrease of 16.4% from the April 30th total of 7,190,000 shares. Based on an average trading volume of 2,900,000 shares, the days-to-cover ratio is presently 2.1 days. Approximately 2.9% of the company's shares are sold short.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SLM. JPMorgan Chase & Co. reduced their target price on shares of SLM from $30.00 to $27.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company increased their price objective on shares of SLM from $34.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. Morgan Stanley reaffirmed an "overweight" rating and set a $40.00 price objective (up from $33.00) on shares of SLM in a research report on Wednesday, May 21st. Finally, Barclays boosted their target price on shares of SLM from $34.00 to $38.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.30.

Insider Transactions at SLM

In related news, Director Robert S. Strong sold 3,000 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $31.15, for a total value of $93,450.00. Following the sale, the director now owns 35,195 shares in the company, valued at approximately $1,096,324.25. The trade was a 7.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On SLM

Large investors have recently modified their holdings of the company. J.Safra Asset Management Corp acquired a new position in shares of SLM in the 1st quarter valued at $25,000. Private Trust Co. NA grew its position in SLM by 86.4% during the 4th quarter. Private Trust Co. NA now owns 971 shares of the credit services provider's stock worth $27,000 after purchasing an additional 450 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in SLM in the first quarter valued at $45,000. Fifth Third Bancorp raised its holdings in shares of SLM by 37.7% in the first quarter. Fifth Third Bancorp now owns 1,714 shares of the credit services provider's stock valued at $50,000 after buying an additional 469 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of SLM by 32.2% in the fourth quarter. Blue Trust Inc. now owns 1,849 shares of the credit services provider's stock valued at $51,000 after buying an additional 450 shares during the last quarter. 98.94% of the stock is owned by institutional investors and hedge funds.

SLM Stock Up 1.1%

NASDAQ:SLM traded up $0.35 during midday trading on Friday, hitting $32.16. 1,142,605 shares of the company were exchanged, compared to its average volume of 2,268,919. SLM has a fifty-two week low of $19.39 and a fifty-two week high of $34.55. The company has a market capitalization of $6.75 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 0.86 and a beta of 1.05. The company has a current ratio of 1.32, a quick ratio of 1.27 and a debt-to-equity ratio of 3.37. The company has a fifty day simple moving average of $30.00 and a 200 day simple moving average of $29.04.

SLM (NASDAQ:SLM - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The credit services provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.21. SLM had a return on equity of 31.66% and a net margin of 20.73%. The company had revenue of $374.97 million for the quarter, compared to analyst estimates of $359.83 million. During the same quarter last year, the company posted $1.27 earnings per share. The business's quarterly revenue was up 3.5% compared to the same quarter last year. As a group, equities analysts anticipate that SLM will post 3.07 earnings per share for the current fiscal year.

SLM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Thursday, June 5th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Thursday, June 5th. SLM's dividend payout ratio is currently 18.71%.

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.