SLM (NASDAQ:SLM) Now Covered by Wells Fargo & Company

Wells Fargo & Company started coverage on shares of SLM (NASDAQ:SLM) in a report issued on Monday. The firm issued an overweight rating and a $38.00 price target on the credit services provider’s stock.

Several other research analysts also recently commented on SLM. Morgan Stanley restated an “overweight” rating and set a $40.00 price objective (up from $33.00) on shares of SLM in a research report on Wednesday, May 21st. Royal Bank Of Canada restated an “outperform” rating on shares of SLM in a research report on Monday, July 14th. Jefferies Financial Group boosted their price objective on shares of SLM from $33.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. upgraded shares of SLM from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $29.00 to $38.00 in a research report on Friday, July 11th. Finally, Barclays upped their price target on shares of SLM from $38.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

SLM Stock Down 0.7%

NASDAQ SLM opened at $31.51 on Monday. SLM has a 1-year low of $19.64 and a 1-year high of $34.97. The company has a market cap of $6.57 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 0.89 and a beta of 1.13. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 3.02. The company has a 50 day moving average of $32.35 and a 200-day moving average of $30.86.

SLM (NASDAQ:SLM) last announced its quarterly earnings data on Thursday, July 24th. The credit services provider reported $0.32 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.17). SLM had a net margin of 15.46% and a return on equity of 21.93%. The firm had revenue of $403.60 million for the quarter, compared to analyst estimates of $370.26 million. During the same quarter in the prior year, the firm earned $1.11 earnings per share. The firm’s revenue for the quarter was down 21.4% on a year-over-year basis. SLM has set its FY 2025 guidance at 3.000-3.100 EPS. On average, equities research analysts expect that SLM will post 3.07 earnings per share for the current fiscal year.

SLM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $0.52 dividend on an annualized basis and a yield of 1.7%. SLM’s dividend payout ratio is 26.13%.

Insider Buying and Selling at SLM

In other SLM news, EVP Kerri A. Palmer sold 55,000 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $32.21, for a total value of $1,771,550.00. Following the completion of the sale, the executive vice president owned 119,253 shares in the company, valued at approximately $3,841,139.13. This trade represents a 31.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of SLM

A number of hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors increased its position in shares of SLM by 6.1% in the second quarter. Captrust Financial Advisors now owns 36,889 shares of the credit services provider’s stock valued at $1,210,000 after acquiring an additional 2,109 shares during the period. EverSource Wealth Advisors LLC lifted its position in SLM by 118.2% during the second quarter. EverSource Wealth Advisors LLC now owns 3,995 shares of the credit services provider’s stock valued at $131,000 after purchasing an additional 2,164 shares during the period. Amalgamated Bank lifted its position in SLM by 0.3% during the second quarter. Amalgamated Bank now owns 96,570 shares of the credit services provider’s stock valued at $3,167,000 after purchasing an additional 326 shares during the period. Meritage Portfolio Management lifted its position in SLM by 2.8% during the second quarter. Meritage Portfolio Management now owns 16,780 shares of the credit services provider’s stock valued at $550,000 after purchasing an additional 464 shares during the period. Finally, City Holding Co. bought a new position in SLM in the second quarter worth approximately $25,000. 98.94% of the stock is owned by institutional investors.

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.