Comerica Bank Sells 2,105 Shares of Navient Corporation $NAVI

Comerica Bank lessened its stake in shares of Navient Corporation (NASDAQ:NAVI) by 5.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,339 shares of the credit services provider’s stock after selling 2,105 shares during the period. Comerica Bank’s holdings in Navient were worth $509,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC increased its stake in Navient by 3.1% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 907,116 shares of the credit services provider’s stock worth $11,457,000 after acquiring an additional 27,340 shares during the period. AlphaQuest LLC increased its stake in Navient by 54.3% during the 1st quarter. AlphaQuest LLC now owns 16,360 shares of the credit services provider’s stock worth $207,000 after acquiring an additional 5,755 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Navient by 31.5% in the 1st quarter. Hsbc Holdings PLC now owns 163,995 shares of the credit services provider’s stock valued at $2,068,000 after purchasing an additional 39,315 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Navient in the 1st quarter valued at $40,000. Finally, Wellington Management Group LLP boosted its holdings in shares of Navient by 10.9% in the 1st quarter. Wellington Management Group LLP now owns 1,459,166 shares of the credit services provider’s stock valued at $18,429,000 after purchasing an additional 143,325 shares in the last quarter. Institutional investors own 97.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods reduced their target price on Navient from $16.50 to $15.00 and set a “market perform” rating on the stock in a report on Thursday, July 31st. JPMorgan Chase & Co. raised their target price on Navient from $12.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, July 11th. Bank of America downgraded Navient from a “neutral” rating to an “underperform” rating and set a $12.00 target price on the stock. in a report on Thursday. Finally, Morgan Stanley reduced their target price on Navient from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $13.06.

Navient Trading Down 0.3%

NASDAQ NAVI opened at $13.73 on Monday. The company has a quick ratio of 9.94, a current ratio of 9.94 and a debt-to-equity ratio of 16.52. Navient Corporation has a twelve month low of $10.53 and a twelve month high of $16.44. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 44.29 and a beta of 1.35. The business’s fifty day moving average is $13.78 and its 200 day moving average is $13.27.

Navient (NASDAQ:NAVI) last announced its earnings results on Wednesday, July 30th. The credit services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.06). The company had revenue of $156.00 million for the quarter, compared to the consensus estimate of $156.20 million. Navient had a return on equity of 4.08% and a net margin of 0.89%.During the same period in the prior year, the business earned $0.29 earnings per share. Navient has set its FY 2025 guidance at 0.950-1.050 EPS. As a group, sell-side analysts expect that Navient Corporation will post 1.04 EPS for the current fiscal year.

Navient Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Friday, September 5th. Navient’s dividend payout ratio (DPR) is currently 206.45%.

Navient Company Profile

Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.