SLM (NASDAQ:SLMBP) Trading Up 0.3% – Still a Buy?

SLM Co. (NASDAQ:SLMBP) shares were up 0.3% during mid-day trading on Wednesday . The company traded as high as $75.75 and last traded at $75.7350. Approximately 4,150 shares changed hands during mid-day trading, an increase of 7% from the average daily volume of 3,889 shares. The stock had previously closed at $75.51.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SLMBP. UBS Group set a $40.00 price target on shares of SLM in a research note on Friday, December 5th. TD Cowen reissued a “buy” rating on shares of SLM in a report on Friday, December 5th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating on shares of SLM in a research note on Wednesday, December 10th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

SLM Stock Performance

The firm’s 50 day moving average is $74.24 and its two-hundred day moving average is $75.07.

SLM Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Thursday, March 5th will be issued a $1.4327 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $5.73 annualized dividend and a dividend yield of 7.6%.

About SLM

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.