SLM Co. (NASDAQ:SLMBP) Short Interest Up 42.6% in December

SLM Co. (NASDAQ:SLMBP) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totaling 31,311 shares, a growth of 42.6% from the December 15th total of 21,956 shares. Based on an average trading volume of 12,905 shares, the days-to-cover ratio is currently 2.4 days. Based on an average trading volume of 12,905 shares, the days-to-cover ratio is currently 2.4 days.

SLM Stock Down 0.5%

SLM stock opened at $72.86 on Monday. The company has a 50 day moving average price of $74.38 and a 200-day moving average price of $75.18. SLM has a fifty-two week low of $65.50 and a fifty-two week high of $83.15.

SLM Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Thursday, December 4th were issued a $1.5122 dividend. This represents a $6.05 annualized dividend and a dividend yield of 8.3%. The ex-dividend date was Thursday, December 4th.

Analysts Set New Price Targets

Several equities analysts recently commented on SLMBP shares. Cowen reiterated a “buy” rating on shares of SLM in a report on Friday, December 5th. UBS Group set a $40.00 target price on SLM in a research report on Friday, December 5th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of SLM in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, SLM has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

SLM Company Profile

SLM Corporation, doing business as Sallie Mae, is a U.S.-based provider of private student loans, servicing, and banking products. The company specializes in originating and servicing education loans for undergraduate, graduate and professional students, as well as career and technical training programs. In addition to its core student lending business, Sallie Mae offers deposit products, credit cards and digital tools designed to help customers manage personal finances and plan for higher-education expenses.

Sallie Mae’s product suite includes fixed- and variable-rate private student loans, graduate student loans, parent loans and career training loans.