SLM (NASDAQ:SLM) Given New $24.00 Price Target at JPMorgan Chase & Co.

SLM (NASDAQ:SLM) had its price target decreased by JPMorgan Chase & Co. from $25.00 to $24.00 in a research report released on Monday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the credit services provider’s stock.

A number of other research analysts have also recently issued reports on the stock. Bank of America began coverage on shares of SLM in a research note on Wednesday, September 25th. They issued a buy rating and a $27.00 target price for the company. Wells Fargo & Company lifted their price objective on SLM from $24.00 to $27.00 and gave the company an overweight rating in a research report on Friday, July 26th. Wedbush decreased their target price on SLM from $29.00 to $26.00 and set an outperform rating on the stock in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft lifted their price target on SLM from $25.00 to $29.00 and gave the company a buy rating in a report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of SLM from $25.00 to $27.00 and gave the stock an outperform rating in a report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SLM currently has an average rating of Moderate Buy and an average price target of $24.83.

SLM Trading Down 0.3 %

SLM stock opened at $22.69 on Monday. SLM has a 1-year low of $12.26 and a 1-year high of $23.95. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 2.66. The business’s 50 day moving average is $21.40 and its 200-day moving average is $21.38. The firm has a market cap of $4.93 billion, a P/E ratio of 7.09, a P/E/G ratio of 0.59 and a beta of 1.15.

SLM (NASDAQ:SLM) last released its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.32. The firm had revenue of $783.28 million during the quarter, compared to analyst estimates of $368.97 million. SLM had a return on equity of 41.84% and a net margin of 24.67%. During the same period in the prior year, the company posted $1.10 earnings per share. Equities analysts anticipate that SLM will post 2.84 earnings per share for the current fiscal year.

SLM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Thursday, September 5th. SLM’s dividend payout ratio is presently 13.75%.

Insider Buying and Selling at SLM

In other SLM news, Director Robert S. Strong sold 4,500 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $22.70, for a total value of $102,150.00. Following the transaction, the director now owns 101,093 shares of the company’s stock, valued at approximately $2,294,811.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On SLM

Several large investors have recently bought and sold shares of SLM. GAMMA Investing LLC grew its position in shares of SLM by 13.3% in the 3rd quarter. GAMMA Investing LLC now owns 5,077 shares of the credit services provider’s stock valued at $116,000 after purchasing an additional 594 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of SLM by 3.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,959 shares of the credit services provider’s stock worth $478,000 after buying an additional 664 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of SLM by 3.0% during the fourth quarter. Neuberger Berman Group LLC now owns 26,541 shares of the credit services provider’s stock worth $507,000 after acquiring an additional 772 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in SLM by 9.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 11,017 shares of the credit services provider’s stock valued at $240,000 after purchasing an additional 990 shares during the period. Finally, Swiss National Bank boosted its position in shares of SLM by 0.3% in the first quarter. Swiss National Bank now owns 402,088 shares of the credit services provider’s stock valued at $8,761,000 after acquiring an additional 1,100 shares during the period. Institutional investors own 98.94% of the company’s stock.

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.