SLM (NASDAQ:SLM) Price Target Raised to $29.00 at JPMorgan Chase & Co.

SLM (NASDAQ:SLM) had its target price boosted by JPMorgan Chase & Co. from $27.00 to $29.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the credit services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 5.84% from the stock’s previous close.

SLM has been the subject of several other research reports. Royal Bank of Canada restated an “outperform” rating and issued a $26.00 price target on shares of SLM in a research report on Thursday, October 24th. Morgan Stanley lifted their price target on SLM from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Wedbush reissued an “outperform” rating and issued a $26.00 price objective on shares of SLM in a research note on Thursday, October 24th. Barclays lowered their target price on SLM from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Bank of America began coverage on shares of SLM in a research report on Wednesday, September 25th. They issued a “buy” rating and a $27.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.45.

SLM Price Performance

Shares of NASDAQ SLM traded up $0.15 during midday trading on Tuesday, reaching $27.40. The company’s stock had a trading volume of 472,395 shares, compared to its average volume of 2,188,545. The company has a market cap of $5.82 billion, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 0.85 and a beta of 1.21. SLM has a one year low of $18.25 and a one year high of $28.91. The company has a current ratio of 1.29, a quick ratio of 1.27 and a debt-to-equity ratio of 3.21. The company has a 50 day moving average price of $26.43 and a 200 day moving average price of $23.44.

SLM (NASDAQ:SLM) last issued its earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.30). SLM had a return on equity of 35.92% and a net margin of 22.18%. The company had revenue of $652.64 million during the quarter, compared to analyst estimates of $363.40 million. During the same quarter in the previous year, the firm earned $0.11 earnings per share. On average, equities research analysts expect that SLM will post 2.73 EPS for the current year.

Insider Buying and Selling at SLM

In other news, Director Robert S. Strong sold 4,500 shares of SLM stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $27.25, for a total transaction of $122,625.00. Following the sale, the director now directly owns 83,130 shares in the company, valued at approximately $2,265,292.50. The trade was a 5.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Waldron Private Wealth LLC acquired a new position in shares of SLM in the 3rd quarter worth approximately $31,000. True Wealth Design LLC acquired a new position in SLM during the third quarter worth $31,000. Blue Trust Inc. raised its stake in SLM by 358.7% during the third quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 1,094 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of SLM during the third quarter valued at $35,000. Finally, Covestor Ltd boosted its stake in shares of SLM by 110.3% in the 3rd quarter. Covestor Ltd now owns 4,404 shares of the credit services provider’s stock valued at $101,000 after purchasing an additional 2,310 shares in the last quarter. Institutional investors and hedge funds own 98.94% of the company’s stock.

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.