SLM (NASDAQ:SLM) Price Target Raised to $28.00

SLM (NASDAQ:SLM) had its target price upped by analysts at Wedbush from $26.00 to $28.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the credit services provider’s stock. Wedbush’s price target suggests a potential upside of 26.70% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. Citigroup upgraded shares of SLM from a “neutral” rating to a “buy” rating and raised their target price for the company from $14.00 to $23.00 in a research note on Tuesday, January 16th. JPMorgan Chase & Co. raised their price target on SLM from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Royal Bank of Canada boosted their price objective on SLM from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. TheStreet upgraded SLM from a “c+” rating to a “b” rating in a research note on Wednesday, January 24th. Finally, Wells Fargo & Company lifted their price target on SLM from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.95.

SLM Price Performance

Shares of NASDAQ:SLM opened at $22.10 on Thursday. The stock has a market capitalization of $4.87 billion, a P/E ratio of 9.21, a P/E/G ratio of 0.44 and a beta of 1.16. The business has a 50-day moving average of $20.87 and a two-hundred day moving average of $18.14. SLM has a fifty-two week low of $12.26 and a fifty-two week high of $22.20. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.22 and a quick ratio of 1.22.

SLM (NASDAQ:SLM) last posted its earnings results on Wednesday, April 24th. The credit services provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.18. SLM had a return on equity of 36.86% and a net margin of 20.65%. During the same period last year, the company posted $0.47 earnings per share. On average, equities research analysts predict that SLM will post 2.72 EPS for the current fiscal year.

SLM announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 24th that allows the company to repurchase $650.00 million in outstanding shares. This repurchase authorization allows the credit services provider to reacquire up to 14.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at SLM

In other news, EVP Donna F. Vieira sold 12,308 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $20.27, for a total transaction of $249,483.16. Following the completion of the transaction, the executive vice president now directly owns 126,500 shares of the company’s stock, valued at approximately $2,564,155. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Donna F. Vieira sold 12,308 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $20.27, for a total value of $249,483.16. Following the completion of the transaction, the executive vice president now directly owns 126,500 shares of the company’s stock, valued at approximately $2,564,155. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jonathan Boyles sold 94,078 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $20.72, for a total value of $1,949,296.16. Following the completion of the sale, the senior vice president now directly owns 52,751 shares in the company, valued at approximately $1,093,000.72. The disclosure for this sale can be found here. Insiders own 0.91% of the company’s stock.

Hedge Funds Weigh In On SLM

Institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC increased its holdings in shares of SLM by 7.7% during the fourth quarter. Signaturefd LLC now owns 7,891 shares of the credit services provider’s stock worth $151,000 after buying an additional 565 shares in the last quarter. Blue Trust Inc. increased its holdings in SLM by 81.4% during the 4th quarter. Blue Trust Inc. now owns 1,328 shares of the credit services provider’s stock valued at $25,000 after purchasing an additional 596 shares in the last quarter. Headlands Technologies LLC raised its position in SLM by 46.4% in the 4th quarter. Headlands Technologies LLC now owns 2,330 shares of the credit services provider’s stock valued at $45,000 after purchasing an additional 739 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in SLM by 3.0% in the fourth quarter. Neuberger Berman Group LLC now owns 26,541 shares of the credit services provider’s stock worth $507,000 after purchasing an additional 772 shares in the last quarter. Finally, Alaska Permanent Fund Corp grew its holdings in shares of SLM by 0.6% during the fourth quarter. Alaska Permanent Fund Corp now owns 138,686 shares of the credit services provider’s stock worth $2,652,000 after purchasing an additional 786 shares during the last quarter. 98.94% of the stock is owned by institutional investors.

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.