Longboard Asset Management LP Takes $207,000 Position in SLM Corporation $SLM

Longboard Asset Management LP bought a new stake in shares of SLM Corporation (NASDAQ:SLM) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 6,325 shares of the credit services provider’s stock, valued at approximately $207,000.

Several other hedge funds have also modified their holdings of SLM. J.Safra Asset Management Corp purchased a new stake in shares of SLM during the first quarter valued at $25,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in SLM in the 1st quarter worth about $45,000. Fifth Third Bancorp lifted its stake in SLM by 37.7% in the 1st quarter. Fifth Third Bancorp now owns 1,714 shares of the credit services provider’s stock worth $50,000 after acquiring an additional 469 shares in the last quarter. UMB Bank n.a. lifted its stake in SLM by 355.4% in the 1st quarter. UMB Bank n.a. now owns 1,899 shares of the credit services provider’s stock worth $56,000 after acquiring an additional 1,482 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in SLM in the 1st quarter worth about $62,000. 98.94% of the stock is owned by hedge funds and other institutional investors.

SLM Stock Performance

SLM opened at $28.12 on Thursday. The firm has a market capitalization of $5.86 billion, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 0.80 and a beta of 1.11. The stock’s 50 day moving average price is $31.46 and its two-hundred day moving average price is $30.80. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 3.02. SLM Corporation has a 12-month low of $21.10 and a 12-month high of $34.97.

SLM (NASDAQ:SLM) last released its earnings results on Thursday, July 24th. The credit services provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.17). The business had revenue of $403.60 million during the quarter, compared to analyst estimates of $370.26 million. SLM had a net margin of 15.46% and a return on equity of 21.93%. The business’s quarterly revenue was down 21.4% compared to the same quarter last year. During the same period last year, the business earned $1.11 EPS. SLM has set its FY 2025 guidance at 3.000-3.100 EPS. On average, equities analysts forecast that SLM Corporation will post 3.07 earnings per share for the current year.

SLM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, September 4th were given a $0.13 dividend. The ex-dividend date was Thursday, September 4th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.8%. SLM’s dividend payout ratio (DPR) is currently 26.13%.

Insider Activity at SLM

In other SLM news, EVP Kerri A. Palmer sold 55,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $32.21, for a total value of $1,771,550.00. Following the completion of the sale, the executive vice president owned 119,253 shares in the company, valued at approximately $3,841,139.13. This trade represents a 31.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Morgan Stanley reissued an “overweight” rating and issued a $40.00 price objective (up from $33.00) on shares of SLM in a research note on Wednesday, May 21st. Royal Bank Of Canada reissued an “outperform” rating on shares of SLM in a research note on Monday, July 14th. Jefferies Financial Group increased their price objective on SLM from $33.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Barclays increased their price objective on SLM from $38.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Finally, JPMorgan Chase & Co. raised SLM from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $29.00 to $38.00 in a research note on Friday, July 11th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.00.

SLM 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.