SLM (NASDAQ:SLMBP) Shares Down 0.5% – Here’s Why

SLM Co. (NASDAQ:SLMBP) was down 0.5% during mid-day trading on Tuesday . The company traded as low as $74.63 and last traded at $74.63. Approximately 1,094 shares were traded during trading, a decline of 69% from the average daily volume of 3,494 shares. The stock had previously closed at $74.97.

Analyst Ratings Changes

Separately, Bank of America restated a “buy” rating on shares of SLM in a report on Monday, March 9th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, SLM currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

SLM Stock Performance

The stock’s fifty day moving average is $74.67 and its 200-day moving average is $74.63.

SLM Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Thursday, June 4th will be issued a $1.4269 dividend. This represents a $5.71 annualized dividend and a dividend yield of 7.6%. The ex-dividend date is Thursday, June 4th.

SLM Company Profile

SLM Corporation, doing business as Sallie Mae, is a U.S.-based provider of private student loans, servicing, and banking products. The company specializes in originating and servicing education loans for undergraduate, graduate and professional students, as well as career and technical training programs. In addition to its core student lending business, Sallie Mae offers deposit products, credit cards and digital tools designed to help customers manage personal finances and plan for higher-education expenses.

Sallie Mae’s product suite includes fixed- and variable-rate private student loans, graduate student loans, parent loans and career training loans.