Morgan Stanley Issues Positive Forecast for SLM (NASDAQ:SLM) Stock Price

SLM (NASDAQ:SLM) had its price target hoisted by analysts at Morgan Stanley from $32.00 to $38.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the credit services provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 28.99% from the company’s current price.

Several other research analysts also recently issued reports on SLM. Royal Bank of Canada upped their price target on shares of SLM from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods upped their target price on shares of SLM from $30.00 to $32.00 and gave the stock a “market perform” rating in a research report on Friday, January 24th. Barclays raised their price target on shares of SLM from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Compass Point upped their price objective on SLM from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. lifted their target price on SLM from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $31.45.

SLM Stock Performance

SLM stock opened at $29.46 on Monday. The firm has a market capitalization of $6.20 billion, a P/E ratio of 11.12, a P/E/G ratio of 0.86 and a beta of 1.23. The stock has a fifty day moving average price of $29.09 and a two-hundred day moving average price of $25.62. SLM has a 52-week low of $19.39 and a 52-week high of $32.65. The company has a debt-to-equity ratio of 3.37, a current ratio of 1.32 and a quick ratio of 1.27.

SLM (NASDAQ:SLM) last announced its earnings results on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.06). SLM had a return on equity of 31.66% and a net margin of 20.73%. As a group, analysts anticipate that SLM will post 3.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert S. Strong sold 40,000 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $28.57, for a total transaction of $1,142,800.00. Following the completion of the sale, the director now directly owns 43,163 shares of the company’s stock, valued at approximately $1,233,166.91. This represents a 48.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On SLM

Several large investors have recently made changes to their positions in SLM. Private Trust Co. NA boosted its stake in SLM by 86.4% in the 4th quarter. Private Trust Co. NA now owns 971 shares of the credit services provider’s stock worth $27,000 after purchasing an additional 450 shares during the period. True Wealth Design LLC bought a new stake in shares of SLM in the third quarter valued at about $31,000. Capital Performance Advisors LLP acquired a new position in shares of SLM during the third quarter worth about $35,000. Blue Trust Inc. grew its holdings in shares of SLM by 32.2% during the fourth quarter. Blue Trust Inc. now owns 1,849 shares of the credit services provider’s stock worth $51,000 after buying an additional 450 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in SLM in the 4th quarter valued at approximately $86,000. Institutional investors 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.