JPMorgan Chase & Co. Cuts SLM (NASDAQ:SLM) Price Target to $24.00

by · The Markets Daily

SLM (NASDAQ:SLM – Free Report) had its price target lowered by JPMorgan Chase & Co. from $25.00 to $24.00 in a report published on Monday, Benzinga reports. The firm currently has a neutral rating on the credit services provider’s stock.

SLM has been the subject of a number of other research reports. Royal Bank of Canada increased their target price on shares of SLM from $25.00 to $27.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of SLM from $25.00 to $29.00 and gave the company a buy rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods raised their price objective on shares of SLM from $25.00 to $27.00 and gave the company an outperform rating in a research report on Thursday, July 25th. Wedbush cut their price objective on shares of SLM from $29.00 to $26.00 and set an outperform rating for the company in a research report on Tuesday, September 24th. Finally, Wells Fargo & Company raised their price objective on shares of SLM from $24.00 to $27.00 and gave the company an overweight rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, SLM has a consensus rating of Moderate Buy and a consensus price target of $24.83.

View Our Latest Report on SLM

SLM Price Performance

SLM opened at $22.75 on Monday. The firm has a market cap of $4.95 billion, a P/E ratio of 7.11, a PEG ratio of 0.59 and a beta of 1.15. The firm has a 50-day moving average of $21.39 and a 200 day moving average of $21.37. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.26 and a current ratio of 1.26. SLM has a fifty-two week low of $12.26 and a fifty-two week high of $23.95.

SLM (NASDAQ:SLM – Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.32. The company had revenue of $783.28 million during the quarter, compared to analyst estimates of $368.97 million. SLM had a net margin of 24.67% and a return on equity of 41.84%. During the same quarter in the prior year, the business earned $1.10 earnings per share. On average, research analysts expect that SLM will post 2.84 EPS for the current year.

SLM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.93%. The ex-dividend date was Thursday, September 5th. SLM’s dividend payout ratio (DPR) is currently 13.75%.

Insider Activity at SLM

In related news, Director Robert S. Strong sold 4,500 shares of SLM stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $22.70, for a total value of $102,150.00. Following the sale, the director now owns 101,093 shares in the company, valued at $2,294,811.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by company insiders.

Institutional Trading of SLM

A number of hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC grew its position in shares of SLM by 187.6% in the 3rd quarter. CWM LLC now owns 42,899 shares of the credit services provider’s stock worth $981,000 after buying an additional 27,982 shares during the period. GAMMA Investing LLC grew its position in shares of SLM by 13.3% in the 3rd quarter. GAMMA Investing LLC now owns 5,077 shares of the credit services provider’s stock worth $116,000 after buying an additional 594 shares during the period. Invst LLC grew its position in shares of SLM by 5.8% in the 2nd quarter. Invst LLC now owns 40,000 shares of the credit services provider’s stock worth $828,000 after buying an additional 2,176 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of SLM in the 2nd quarter worth about $1,338,000. Finally, Millennium Management LLC grew its position 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 buying an additional 1,224,015 shares during the period. 98.94% of the stock is owned by hedge funds and other institutional investors.

SLM Company Profile

(Get Free Report)

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.

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