SLM (NASDAQ:SLM) Stock Price Expected to Rise, Morgan Stanley Analyst Says

SLM (NASDAQ:SLM) had its price target lifted by equities research analysts at Morgan Stanley from $26.00 to $32.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the credit services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 17.47% from the stock’s current price.

SLM has been the subject of several other reports. JPMorgan Chase & Co. raised their price objective on shares of SLM from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $26.00 price objective on shares of SLM in a research report on Thursday, October 24th. Barclays reduced their target price on shares of SLM from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $30.00 price target (up from $27.00) on shares of SLM in a research report on Monday, December 9th. Finally, Wedbush reiterated an “outperform” rating and issued a $26.00 price target on shares of SLM in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, SLM presently has an average rating of “Moderate Buy” and a consensus price target of $27.27.

SLM Stock Performance

SLM stock traded up $0.37 during trading hours on Thursday, reaching $27.24. The stock had a trading volume of 1,892,689 shares, compared to its average volume of 1,878,303. The stock has a market capitalization of $5.78 billion, a PE ratio of 9.49, a price-to-earnings-growth ratio of 0.85 and a beta of 1.21. The stock has a 50-day simple moving average of $24.62 and a 200 day simple moving average of $22.54. SLM has a fifty-two week low of $18.04 and a fifty-two week high of $28.22. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.29 and a quick ratio of 1.27.

SLM (NASDAQ:SLM) last released its quarterly earnings data 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). The business had revenue of $652.64 million during the quarter, compared to analyst estimates of $363.40 million. SLM had a net margin of 22.18% and a return on equity of 35.92%. During the same period in the previous year, the business earned $0.11 earnings per share. Analysts predict that SLM will post 2.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert S. Strong sold 4,500 shares of SLM stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $27.25, for a total transaction of $122,625.00. Following the transaction, the director now owns 83,130 shares of the company’s stock, valued at $2,265,292.50. The trade was a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On SLM

Hedge funds and other institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC purchased a new stake in SLM in the 2nd quarter worth about $235,000. Allspring Global Investments Holdings LLC grew its position in SLM by 119.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 12,979 shares of the credit services provider’s stock worth $270,000 after buying an additional 7,076 shares in the last quarter. International Assets Investment Management LLC bought a new stake in SLM during the second quarter valued at approximately $60,000. Commonwealth Equity Services LLC purchased a new stake in SLM during the second quarter valued at about $298,000. Finally, National Bank of Canada FI grew its position in SLM by 2.2% during the second quarter. National Bank of Canada FI now owns 58,990 shares of the credit services provider’s stock valued at $1,217,000 after acquiring an additional 1,278 shares during the last quarter. Hedge funds and other 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.