SLM (NASDAQ:SLM – Get Rating) was downgraded by stock analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued on Thursday, Marketbeat.com reports. They currently have a $17.00 price objective on the credit services provider’s stock, down from their previous price objective of $18.00. Citigroup’s price target would suggest a potential upside of 12.43% from the company’s previous close.
A number of other brokerages have also weighed in on SLM. StockNews.com started coverage on SLM in a research note on Wednesday. They issued a “hold” rating on the stock. Barclays lowered their target price on SLM from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Monday, July 11th. Morgan Stanley assumed coverage on SLM in a research report on Friday, October 7th. They set an “underweight” rating and a $15.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and set a $17.00 price objective on shares of SLM in a research report on Wednesday, September 28th. Finally, Keefe, Bruyette & Woods reduced their target price on SLM from $24.00 to $21.00 in a report on Monday, July 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, SLM has a consensus rating of “Hold” and an average target price of $19.89.
SLM Stock Performance
NASDAQ:SLM opened at $15.12 on Thursday. The stock’s 50-day simple moving average is $15.18 and its 200 day simple moving average is $16.37. SLM has a twelve month low of $13.72 and a twelve month high of $20.88. The firm has a market capitalization of $3.80 billion, a PE ratio of 5.01 and a beta of 1.15. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 3.02.
SLM (NASDAQ:SLM – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The credit services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.05. SLM had a return on equity of 46.75% and a net margin of 37.26%. The firm had revenue of $362.81 million for the quarter, compared to analyst estimates of $354.41 million. During the same period in the previous year, the firm earned $0.45 earnings per share. On average, analysts anticipate that SLM will post 2.64 EPS for the current fiscal year.
Institutional Trading of SLM
A number of large investors have recently modified their holdings of SLM. Wedge Capital Management L L P NC lifted its holdings in SLM by 9.2% during the third quarter. Wedge Capital Management L L P NC now owns 2,662,421 shares of the credit services provider’s stock worth $37,247,000 after buying an additional 224,952 shares during the period. Summit Global Investments increased its position in shares of SLM by 9.5% in the 2nd quarter. Summit Global Investments now owns 58,274 shares of the credit services provider’s stock valued at $929,000 after acquiring an additional 5,070 shares during the period. Captrust Financial Advisors increased its position in shares of SLM by 97.2% in the 2nd quarter. Captrust Financial Advisors now owns 15,211 shares of the credit services provider’s stock valued at $242,000 after acquiring an additional 7,496 shares during the period. JBF Capital Inc. increased its position in shares of SLM by 7.4% in the 2nd quarter. JBF Capital Inc. now owns 29,000 shares of the credit services provider’s stock valued at $462,000 after acquiring an additional 2,000 shares during the period. Finally, United Services Automobile Association acquired a new position in shares of SLM in the 2nd quarter valued at $476,000. Hedge funds and other institutional investors own 98.89% of the company’s stock.
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 omnibus accounts, as well as credit card loans.
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