SLM (NASDAQ:SLM) Price Target Raised to $32.00

SLM (NASDAQ:SLM) had its price objective raised by research analysts at Keefe, Bruyette & Woods from $30.00 to $32.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the credit services provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 5.06% from the company’s previous close.

Several other analysts also recently weighed in on SLM. Barclays decreased their target price on SLM from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Morgan Stanley raised their price objective on SLM from $26.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Wedbush restated an “outperform” rating and set a $26.00 price target on shares of SLM in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their target price on shares of SLM from $27.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $26.00 price objective on shares of SLM in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, SLM has a consensus rating of “Moderate Buy” and a consensus price target of $28.64.

SLM Price Performance

Shares of SLM opened at $30.46 on Friday. The company has a market capitalization of $6.47 billion, a P/E ratio of 10.60, a price-to-earnings-growth ratio of 0.79 and a beta of 1.21. SLM has a twelve month low of $18.84 and a twelve month high of $31.49. The company has a quick ratio of 1.27, a current ratio of 1.29 and a debt-to-equity ratio of 3.21. The firm has a 50 day moving average of $27.18 and a 200 day moving average of $23.83.

SLM (NASDAQ:SLM) last issued its earnings results on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.06). SLM had a return on equity of 35.92% and a net margin of 22.18%. As a group, equities research analysts anticipate that SLM will post 2.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert S. Strong sold 4,500 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $27.25, for a total value of $122,625.00. Following the transaction, the director now directly owns 83,130 shares of the company’s stock, valued at $2,265,292.50. This trade represents a 5.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On SLM

A number of institutional investors have recently modified their holdings of SLM. Assenagon Asset Management S.A. raised its stake in shares of SLM by 3,800.6% during the third quarter. Assenagon Asset Management S.A. now owns 2,406,384 shares of the credit services provider’s stock worth $55,034,000 after purchasing an additional 2,344,691 shares during the last quarter. Millennium Management LLC lifted its stake in shares of SLM by 107.1% in the 2nd quarter. Millennium Management LLC now owns 2,366,642 shares of the credit services provider’s stock worth $49,202,000 after acquiring an additional 1,224,015 shares during the period. AQR Capital Management LLC boosted its holdings in shares of SLM by 253.8% in the second quarter. AQR Capital Management LLC now owns 1,290,997 shares of the credit services provider’s stock valued at $26,840,000 after acquiring an additional 926,120 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of SLM by 7.5% during the third quarter. Geode Capital Management LLC now owns 4,762,328 shares of the credit services provider’s stock worth $108,936,000 after acquiring an additional 331,490 shares during the period. Finally, AXA S.A. purchased a new position in SLM during the second quarter worth about $5,046,000. 98.94% of the stock is owned by institutional investors and hedge funds.

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.