SLM (NASDAQ:SLM) Reaches New 12-Month High - Still a Buy?

Shares of SLM Co. (NASDAQ:SLM - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $33.95 and last traded at $33.85, with a volume of 2003515 shares trading hands. The stock had previously closed at $33.65.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SLM shares. Morgan Stanley restated an "overweight" rating and set a $40.00 price target (up from $33.00) on shares of SLM in a report on Wednesday, May 21st. Barclays increased their target price on SLM from $34.00 to $38.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Wells Fargo & Company lifted 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. Finally, JPMorgan Chase & Co. reduced their price objective on SLM from $30.00 to $27.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, SLM has a consensus rating of "Moderate Buy" and a consensus price target of $31.82.

SLM Stock Down 2.5%

The company has a market capitalization of $7.03 billion, a price-to-earnings ratio of 12.65, a P/E/G ratio of 0.86 and a beta of 1.05. The business has a fifty day simple moving average of $29.64 and a two-hundred day simple moving average of $28.64. The company has a quick ratio of 1.27, a current ratio of 1.32 and a debt-to-equity ratio of 3.37.

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 for the quarter, topping the consensus estimate of $1.19 by $0.21. SLM had a net margin of 20.73% and a return on equity of 31.66%. The firm had revenue of $374.97 million for the quarter, compared to analysts' expectations of $359.83 million. During the same period in the prior year, the firm earned $1.27 earnings per share. The company's quarterly revenue was up 3.5% compared to the same quarter last year. Equities analysts expect that SLM Co. will post 3.07 EPS for the current year.

SLM Dividend Announcement

The firm 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 1.55%. The ex-dividend date is Thursday, June 5th. SLM's dividend payout ratio is currently 18.71%.

Insider Transactions at SLM

In related news, Director Robert S. Strong sold 3,000 shares of the firm'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 $1,096,324.25. This trade represents a 7.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On SLM

Hedge funds and other institutional investors have recently made changes to their positions in the company. AlphaQuest LLC increased its position in SLM by 1.1% in the first quarter. AlphaQuest LLC now owns 36,509 shares of the credit services provider's stock worth $1,072,000 after purchasing an additional 408 shares during the period. State of Alaska Department of Revenue raised 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 last quarter. Blue Trust Inc. lifted its stake in shares of SLM by 32.2% in the 4th quarter. Blue Trust Inc. now owns 1,849 shares of the credit services provider's stock valued at $51,000 after purchasing an additional 450 shares during the period. Private Trust Co. NA boosted its position in shares of SLM by 86.4% in 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. Finally, ProShare Advisors LLC grew its stake in shares of SLM by 4.8% during the fourth quarter. ProShare Advisors LLC now owns 9,935 shares of the credit services provider's stock worth $274,000 after purchasing an additional 455 shares during the period. 98.94% of the stock is 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.