Barclays Forecasts Strong Price Appreciation for SLM (NASDAQ:SLM) Stock

SLM (NASDAQ:SLM - Free Report) had its price objective lifted by Barclays from $34.00 to $38.00 in a research report sent to investors on Friday,Benzinga reports. Barclays currently has an overweight rating on the credit services provider's stock.

Several other research firms have also weighed in on SLM. Wells Fargo & Company boosted their price target on SLM from $34.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. JPMorgan Chase & Co. lowered their price target on SLM from $30.00 to $27.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $40.00 price target (up previously from $33.00) on shares of SLM in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, SLM has a consensus rating of "Moderate Buy" and a consensus price target of $31.82.

SLM Stock Down 1.6%

SLM stock traded down $0.51 during midday trading on Friday, reaching $32.38. The stock had a trading volume of 4,115,041 shares, compared to its average volume of 2,267,315. The firm's fifty day simple moving average is $29.73 and its 200-day simple moving average is $28.82. SLM has a 1-year low of $19.39 and a 1-year high of $34.55. The stock has a market capitalization of $6.80 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 0.86 and a beta of 1.05. The company has a debt-to-equity ratio of 3.37, a quick ratio of 1.27 and a current ratio of 1.32.

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

SLM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, June 5th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Thursday, June 5th. SLM's payout ratio is presently 18.71%.

Insider Buying and Selling

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 completion of the sale, the director now directly owns 35,195 shares in the company, valued at $1,096,324.25. The trade was a 7.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.20% of the stock is owned by insiders.

Institutional Trading of SLM

Several institutional investors have recently added to or reduced their stakes in the company. AlphaQuest LLC lifted its position in shares of SLM by 1.1% during the 1st quarter. AlphaQuest LLC now owns 36,509 shares of the credit services provider's stock valued at $1,072,000 after acquiring an additional 408 shares during the period. State of Alaska Department of Revenue lifted its position in shares of SLM by 1.8% during the 1st quarter. State of Alaska Department of Revenue now owns 24,657 shares of the credit services provider's stock valued at $724,000 after acquiring an additional 440 shares during the period. Blue Trust Inc. lifted its position in shares of SLM by 32.2% during the 4th quarter. Blue Trust Inc. now owns 1,849 shares of the credit services provider's stock valued at $51,000 after acquiring an additional 450 shares during the period. Private Trust Co. NA lifted its position in shares of SLM by 86.4% during the 4th quarter. Private Trust Co. NA now owns 971 shares of the credit services provider's stock valued at $27,000 after acquiring an additional 450 shares during the period. Finally, ProShare Advisors LLC lifted its position in shares of SLM by 4.8% during the 4th quarter. ProShare Advisors LLC now owns 9,935 shares of the credit services provider's stock valued at $274,000 after acquiring an additional 455 shares during the period. 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.