SLM (NASDAQ:SLM) Hits New 52-Week High - Still a Buy?

Shares of SLM Co. (NASDAQ:SLM - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $33.85 and last traded at $33.14, with a volume of 133710 shares changing hands. The stock had previously closed at $32.18.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SLM shares. Barclays boosted their price target on shares of SLM from $34.00 to $38.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Wells Fargo & Company raised their target price on shares of SLM from $32.00 to $33.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Royal Bank of Canada boosted their price objective on shares of SLM from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. Compass Point increased their target price on shares of SLM from $31.00 to $34.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Finally, Morgan Stanley restated an "overweight" rating and set a $33.00 price target (up previously from $31.00) on shares of SLM in a report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $30.73.

SLM Stock Performance

The company has a 50 day moving average of $28.49 and a two-hundred day moving average of $27.71. The company has a debt-to-equity ratio of 3.37, a current ratio of 1.32 and a quick ratio of 1.27. The company has a market capitalization of $6.97 billion, a PE ratio of 12.54, a PEG ratio of 0.86 and a beta of 1.05.

SLM (NASDAQ:SLM - Get Free Report) last announced its quarterly 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 firm had revenue of $374.97 million for the quarter, compared to the consensus estimate of $359.83 million. SLM had a return on equity of 31.66% and a net margin of 20.73%. The company's quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.27 earnings per share. As a group, equities research analysts predict that SLM Co. will post 3.07 earnings per share for the current year.

SLM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.57%. SLM's dividend payout ratio is currently 18.71%.

Insider Activity at SLM

In other news, Director Robert S. Strong sold 3,000 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were 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 owns 35,195 shares of the company's stock, valued at approximately $1,096,324.25. This represents a 7.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by insiders.

Institutional Trading of SLM

Large investors have recently added to or reduced their stakes in the company. Amundi lifted its holdings in SLM by 103.4% in the 4th quarter. Amundi now owns 135,014 shares of the credit services provider's stock valued at $3,712,000 after purchasing an additional 68,632 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in SLM by 9.2% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 223,692 shares of the credit services provider's stock worth $6,169,000 after purchasing an additional 18,754 shares during the period. Boston Partners grew its stake in shares of SLM by 3.9% during the fourth quarter. Boston Partners now owns 12,246,797 shares of the credit services provider's stock worth $338,889,000 after purchasing an additional 456,415 shares in the last quarter. Discovery Capital Management LLC CT purchased a new position in SLM in the fourth quarter valued at approximately $5,775,000. Finally, Franklin Resources Inc. boosted its stake in SLM by 35.3% in the third quarter. Franklin Resources Inc. now owns 415,607 shares of the credit services provider's stock valued at $9,596,000 after acquiring an additional 108,463 shares in the last quarter. Hedge funds and other institutional investors own 98.94% of the company's stock.

About SLM

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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