SLM (NASDAQ:SLM) Upgraded by JPMorgan Chase & Co. to "Overweight" Rating

SLM (NASDAQ:SLM - Get Free Report) was upgraded by equities researchers at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research note issued on Friday, MarketBeat Ratings reports. The brokerage presently has a $38.00 price target on the credit services provider's stock, up from their prior price target of $29.00. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 12.73% from the stock's current price.

A number of other research analysts have also recently commented on the company. Barclays upped their target price on SLM from $34.00 to $38.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Wells Fargo & Company boosted their price objective on SLM from $34.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $40.00 target price (up previously from $33.00) on shares of SLM in a research note on Wednesday, May 21st. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $33.40.

SLM Stock Up 1.7%

Shares of SLM opened at $33.71 on Friday. The business's 50 day moving average is $32.66 and its 200 day moving average is $29.98. The company has a market capitalization of $7.07 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 0.91 and a beta of 1.09. SLM has a 12-month low of $19.39 and a 12-month high of $34.97. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 2.86.

SLM (NASDAQ:SLM - Get Free Report) last issued its earnings results on Thursday, April 24th. The credit services provider reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.21. SLM had a return on equity of 31.25% and a net margin of 21.05%. The company had revenue of $374.97 million for the quarter, compared to the consensus estimate of $359.83 million. During the same quarter last year, the company earned $1.27 EPS. The firm's quarterly revenue was up 3.5% on a year-over-year basis. Research analysts expect that SLM will post 3.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SLM news, Director Robert S. Strong sold 3,000 shares of the business's stock in a transaction dated 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 transaction, the director directly owned 35,195 shares in the company, valued at approximately $1,096,324.25. The trade was a 7.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SLM

A number of large investors have recently added to or reduced their stakes in the company. J.Safra Asset Management Corp acquired a new position in shares of SLM during the first quarter valued at about $25,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of SLM during the first quarter valued at about $45,000. Fifth Third Bancorp increased its holdings in shares of SLM by 37.7% during the first quarter. Fifth Third Bancorp now owns 1,714 shares of the credit services provider's stock valued at $50,000 after acquiring an additional 469 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of SLM by 355.4% during the first quarter. UMB Bank n.a. now owns 1,899 shares of the credit services provider's stock valued at $56,000 after acquiring an additional 1,482 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of SLM during the first quarter valued at about $62,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.