SLM (SLM) Rating Reiterated by BMO Capital Markets
SLM (NASDAQ:SLM)‘s stock had its “hold” rating reaffirmed by analysts at BMO Capital Markets in a research report issued on Thursday. They presently have a $15.00 price objective on the credit services provider’s stock. BMO Capital Markets’ price target would suggest a potential upside of 32.74% from the stock’s previous close.
Other research analysts also recently issued research reports about the company. FBR & Co set a $13.00 price objective on SLM and gave the stock a “buy” rating in a report on Thursday, October 19th. BidaskClub raised SLM from a “strong sell” rating to a “sell” rating in a research report on Friday, October 20th. Citigroup started coverage on shares of SLM in a research note on Monday, October 16th. They set a “buy” rating and a $16.00 target price for the company. Zacks Investment Research upgraded shares of SLM from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Finally, Wedbush reiterated an “outperform” rating and set a $14.50 target price on shares of SLM in a research note on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $13.89.
SLM (NASDAQ:SLM) traded down $0.04 during trading hours on Thursday, reaching $11.30. The company had a trading volume of 2,972,800 shares, compared to its average volume of 2,801,200. The company has a market capitalization of $4,950.00, a price-to-earnings ratio of 16.87 and a beta of 1.32. SLM has a 12 month low of $9.65 and a 12 month high of $13.20. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.35.
In related news, SVP Jonathan Boyles sold 2,776 shares of SLM stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $11.65, for a total transaction of $32,340.40. Following the transaction, the senior vice president now directly owns 173,728 shares of the company’s stock, valued at $2,023,931.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Raymond J. Quinlan sold 200,000 shares of SLM stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $11.52, for a total transaction of $2,304,000.00. Following the transaction, the chief executive officer now directly owns 1,080,133 shares in the company, valued at $12,443,132.16. The disclosure for this sale can be found here. Company insiders own 0.59% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its stake in shares of SLM by 44.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 8,438 shares of the credit services provider’s stock worth $102,000 after acquiring an additional 2,578 shares during the period. Hartford Investment Management Co. purchased a new stake in SLM in the third quarter valued at approximately $104,000. Genesee Valley Trust Co. grew its holdings in SLM by 2.5% in the second quarter. Genesee Valley Trust Co. now owns 16,945 shares of the credit services provider’s stock valued at $105,000 after purchasing an additional 408 shares during the period. Two Sigma Securities LLC purchased a new stake in SLM in the third quarter valued at approximately $111,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in SLM in the third quarter valued at approximately $115,000. Institutional investors own 99.24% of the company’s stock.
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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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