SLM Corporation (SLM) Upgraded by Zacks Investment Research to Hold
SLM Corporation (NASDAQ:SLM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Shares of Sallie Mae have underperformed the industry over the past six months. Yet, the company has an impressive earnings surprise history. It hasn’t missed the Zacks Consensus Estimate for earnings in any of the trailing four quarters. The company’s focus on strengthening its Private Education Loan assets and revenues along with maintaining a strong capital position bode well for the long term. Also, the economic recovery and declining unemployment rate should help it maintain its leading position in the student lending market. However, a competitive business environment and consistently increasing expenses remain near-term concerns. Further, Sallie Mae faces concentration risk due to over dependence on brokered deposits.”
Several other equities analysts have also issued reports on the company. BidaskClub lowered SLM Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Wedbush lowered SLM Corporation to a “buy” rating and set a $15.00 target price on the stock. in a research note on Saturday, July 22nd. Jefferies Group LLC reiterated a “buy” rating and issued a $15.00 target price on shares of SLM Corporation in a research note on Saturday, July 22nd. FBR & Co cut their target price on SLM Corporation from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, July 21st. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $15.00 target price on shares of SLM Corporation in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $12.94.
SLM Corporation (NASDAQ SLM) traded down 0.725% during mid-day trading on Wednesday, hitting $10.265. 453,134 shares of the stock were exchanged. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of 16.556 and a beta of 1.22. The stock has a 50 day moving average of $10.68 and a 200-day moving average of $11.33. SLM Corporation has a 52-week low of $6.93 and a 52-week high of $13.20.
SLM Corporation (NASDAQ:SLM) last released its quarterly earnings data on Wednesday, July 19th. The credit services provider reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $269.89 million during the quarter, compared to the consensus estimate of $268.69 million. SLM Corporation had a return on equity of 16.31% and a net margin of 22.81%. The firm’s quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.12 earnings per share. Equities analysts predict that SLM Corporation will post $0.71 EPS for the current fiscal year.
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Several hedge funds have recently modified their holdings of the company. Cadence Capital Management LLC grew its stake in shares of SLM Corporation by 0.5% during the first quarter. Cadence Capital Management LLC now owns 15,538 shares of the credit services provider’s stock worth $188,000 after acquiring an additional 81 shares during the last quarter. Capstone Asset Management Co. grew its stake in shares of SLM Corporation by 0.5% during the second quarter. Capstone Asset Management Co. now owns 54,896 shares of the credit services provider’s stock worth $631,000 after acquiring an additional 260 shares during the last quarter. World Asset Management Inc grew its stake in shares of SLM Corporation by 1.8% during the first quarter. World Asset Management Inc now owns 34,212 shares of the credit services provider’s stock worth $414,000 after acquiring an additional 589 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of SLM Corporation by 2.8% during the first quarter. Teacher Retirement System of Texas now owns 34,294 shares of the credit services provider’s stock worth $415,000 after acquiring an additional 940 shares during the last quarter. Finally, Advantus Capital Management Inc grew its stake in shares of SLM Corporation by 3.2% during the first quarter. Advantus Capital Management Inc now owns 54,941 shares of the credit services provider’s stock worth $665,000 after acquiring an additional 1,714 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.
SLM Corporation Company Profile
SLM Corporation (Sallie Mae) is the nation’s saving, planning, and paying for college company. Sallie Mae offers products, which promote personal finance including private education loans, Upromise rewards, scholarship search, college financial planning tools, insurance, and online retail banking.
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