Wedbush Reiterates Outperform Rating for SLM Corporation (SLM)
SLM Corporation (NASDAQ:SLM)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a research report issued on Thursday. They presently have a $14.50 target price on the credit services provider’s stock. Wedbush’s price objective points to a potential upside of 35.39% from the stock’s current price.
Several other equities analysts have also recently issued reports on SLM. ValuEngine upgraded shares of SLM Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of SLM Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Zacks Investment Research cut shares of SLM Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Jefferies Group LLC reiterated a “buy” rating and set a $15.00 price target on shares of SLM Corporation in a research report on Friday, July 14th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $15.00 price target on shares of SLM Corporation in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $12.88.
SLM Corporation (SLM) opened at 10.71 on Thursday. SLM Corporation has a 12 month low of $6.93 and a 12 month high of $13.20. The company has a 50-day moving average of $10.52 and a 200 day moving average of $11.26. The company has a market cap of $4.62 billion, a PE ratio of 17.27 and a beta of 1.22.
SLM Corporation (NASDAQ:SLM) last announced its quarterly earnings results on Wednesday, July 19th. The credit services provider reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. SLM Corporation had a net margin of 22.81% and a return on equity of 16.31%. The company had revenue of $269.89 million for the quarter, compared to analysts’ expectations of $268.69 million. During the same quarter in the previous year, the company earned $0.12 earnings per share. SLM Corporation’s quarterly revenue was up 26.8% on a year-over-year basis. On average, equities analysts forecast that SLM Corporation will post $0.72 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. grew its holdings in SLM Corporation by 44.0% in the first quarter. Envestnet Asset Management Inc. now owns 8,438 shares of the credit services provider’s stock worth $102,000 after purchasing an additional 2,578 shares during the period. HighTower Advisors LLC purchased a new stake in SLM Corporation in the first quarter worth about $125,000. Commerzbank Aktiengesellschaft FI purchased a new stake in SLM Corporation in the first quarter worth about $163,000. Cadence Capital Management LLC grew its holdings in SLM Corporation by 0.5% in the first quarter. Cadence Capital Management LLC now owns 15,538 shares of the credit services provider’s stock worth $188,000 after purchasing an additional 81 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in SLM Corporation in the first quarter worth about $189,000. Institutional investors and hedge funds own 98.43% of the company’s stock.
About SLM Corporation
SLM Corporation (Sallie Mae) is the nation’s saving, planning, and paying for college company. Sallie Mae offers products, which promote personal finance including private education loans, Upromise rewards, scholarship search, college financial planning tools, insurance, and online retail banking.
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