Strs Ohio Takes $1.47 Million Position in SLM Corporation $SLM

Strs Ohio bought a new stake in SLM Corporation (NASDAQ:SLM) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 50,114 shares of the credit services provider’s stock, valued at approximately $1,472,000.

A number of other institutional investors have also modified their holdings of SLM. J.Safra Asset Management Corp acquired a new position in shares of SLM in the first quarter valued at approximately $25,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in SLM during the first quarter worth $45,000. Fifth Third Bancorp grew its holdings in SLM by 37.7% during the first quarter. Fifth Third Bancorp now owns 1,714 shares of the credit services provider’s stock worth $50,000 after acquiring an additional 469 shares during the period. UMB Bank n.a. grew its holdings in SLM by 355.4% during the first quarter. UMB Bank n.a. now owns 1,899 shares of the credit services provider’s stock worth $56,000 after acquiring an additional 1,482 shares during the period. Finally, Headlands Technologies LLC acquired a new position in SLM during the first quarter worth $62,000. Institutional investors and hedge funds own 98.94% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on SLM shares. Barclays upped their price objective on SLM from $38.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of SLM in a report on Monday, July 14th. JPMorgan Chase & Co. raised SLM from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $29.00 to $38.00 in a report on Friday, July 11th. Wells Fargo & Company started coverage on SLM in a report on Monday, August 25th. They set an “overweight” rating and a $38.00 price objective on the stock. Finally, Jefferies Financial Group upped their price objective on SLM from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

SLM Stock Performance

NASDAQ SLM opened at $28.04 on Wednesday. The business’s 50-day moving average price is $31.56 and its 200 day moving average price is $30.82. SLM Corporation has a twelve month low of $21.10 and a twelve month high of $34.97. The company has a market capitalization of $5.85 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.79 and a beta of 1.11. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 3.02.

SLM (NASDAQ:SLM) last released its earnings results on Thursday, July 24th. The credit services provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.17). SLM had a return on equity of 21.93% and a net margin of 15.46%.The business had revenue of $403.60 million for the quarter, compared to analysts’ expectations of $370.26 million. During the same quarter last year, the company posted $1.11 earnings per share. The business’s quarterly revenue was down 21.4% compared to the same quarter last year. SLM has set its FY 2025 guidance at 3.000-3.100 EPS. On average, research analysts predict that SLM Corporation will post 3.07 earnings per share for the current year.

SLM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, September 4th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, September 4th. This represents a $0.52 annualized dividend and a yield of 1.9%. SLM’s dividend payout ratio is 26.13%.

Insider Buying and Selling

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

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.