Truist Financial Corp lowered its holdings in shares of SLM Co. (NASDAQ:SLM – Free Report) by 1.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,454,501 shares of the credit services provider’s stock after selling 20,590 shares during the period. Truist Financial Corp owned approximately 0.60% of SLM worth $18,021,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the business. Brinker Capital Investments LLC lifted its stake in shares of SLM by 2.5% in the first quarter. Brinker Capital Investments LLC now owns 33,858 shares of the credit services provider’s stock worth $622,000 after buying an additional 836 shares in the last quarter. OLD National Bancorp IN lifted its stake in shares of SLM by 3.0% in the fourth quarter. OLD National Bancorp IN now owns 40,404 shares of the credit services provider’s stock worth $671,000 after buying an additional 1,171 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of SLM by 22.4% in the first quarter. Parkside Financial Bank & Trust now owns 6,711 shares of the credit services provider’s stock worth $123,000 after buying an additional 1,226 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of SLM by 1.3% in the fourth quarter. Treasurer of the State of North Carolina now owns 108,549 shares of the credit services provider’s stock worth $1,802,000 after buying an additional 1,380 shares in the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of SLM by 24.1% in the first quarter. Captrust Financial Advisors now owns 7,715 shares of the credit services provider’s stock worth $142,000 after buying an additional 1,498 shares in the last quarter. Institutional investors own 92.98% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of SLM from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $16.00 to $17.00 in a research note on Monday, April 17th. Wedbush restated an “outperform” rating and set a $20.00 price objective on shares of SLM in a research report on Thursday, July 27th. TheStreet upgraded shares of SLM from a “c+” rating to a “b” rating in a research report on Thursday, April 27th. Stephens increased their price objective on shares of SLM from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, July 28th. Finally, Compass Point increased their price objective on shares of SLM from $18.00 to $19.00 in a research report on Tuesday, July 11th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, SLM has an average rating of “Moderate Buy” and an average price target of $17.91.
Insider Transactions at SLM
In other news, EVP Nicolas Jafarieh sold 7,500 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $16.12, for a total value of $120,900.00. Following the completion of the sale, the executive vice president now directly owns 162,664 shares of the company’s stock, valued at $2,622,143.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.91% of the company’s stock.
SLM Stock Up 1.2 %
Shares of SLM stock opened at $15.77 on Tuesday. SLM Co. has a 12 month low of $10.81 and a 12 month high of $17.92. The stock has a market cap of $3.57 billion, a P/E ratio of 10.31 and a beta of 1.22. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 3.35. The company has a 50 day simple moving average of $16.32 and a two-hundred day simple moving average of $15.07.
SLM (NASDAQ:SLM – Get Free Report) last announced its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.06). The firm had revenue of $777.96 million during the quarter, compared to analysts’ expectations of $370.15 million. SLM had a return on equity of 24.09% and a net margin of 14.71%. During the same period last year, the company earned $1.29 earnings per share. On average, research analysts expect that SLM Co. will post 2.65 earnings per share for the current year.
SLM Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.11 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.79%. SLM’s dividend payout ratio (DPR) is presently 28.76%.
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 also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.
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