SLM Corporation Plans Quarterly Dividend of $0.13 (NASDAQ:SLM)

Key Points

• SLM Corporation declared a quarterly dividend of $0.13 per share, with shareholders of record set to receive it on December 15th, providing an annualized yield of 1.9%.
• The company has a dividend payout ratio of 15.0%, indicating that its earnings sufficiently cover the dividend payments, and analysts predict earnings of $3.34 per share for the upcoming year.
• SLM stock has a current market cap of $5.63 billion, a PE ratio of 13.57, and has seen a price range between $21.10 and $34.97 over the past year.

SLM Corporation (NASDAQ:SLM - Get Free Report) declared a quarterly dividend on Wednesday, October 22nd. Shareholders of record on Thursday, December 4th will be given a dividend of 0.13 per share by the credit services provider on Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Thursday, December 4th.

SLM has a dividend payout ratio of 15.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect SLM to earn $3.34 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 15.6%.

SLM Price Performance

SLM stock opened at $27.00 on Thursday. The stock's fifty day moving average price is $28.77 and its two-hundred day moving average price is $30.44. SLM has a one year low of $21.10 and a one year high of $34.97. The company has a debt-to-equity ratio of 3.02, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market cap of $5.63 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 0.76 and a beta of 1.11.

SLM (NASDAQ:SLM - Get Free Report) last posted its quarterly earnings data on Monday, February 14th. The credit services provider reported $1.15 EPS for the quarter. SLM had a return on equity of 21.93% and a net margin of 15.46%.The firm had revenue of ($3.44) million for the quarter. SLM has set its FY 2022 guidance at $2.800-$3.000 EPS. As a group, research analysts expect that SLM will post 3.07 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on SLM. Wells Fargo & Company began coverage on SLM in a report on Monday, August 25th. They issued an "overweight" rating and a $38.00 target price on the stock. Wall Street Zen downgraded SLM from a "hold" rating to a "sell" rating in a report on Saturday, October 11th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of SLM in a report on Monday, July 14th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of SLM in a report on Wednesday, October 8th. Finally, Jefferies Financial Group reduced their target price on SLM from $40.00 to $31.00 and set a "buy" rating on the stock in a report on Friday, October 17th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $32.89.

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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