SLM Co. (NASDAQ:SLM) – Equity researchers at Jefferies Financial Group raised their earnings per share (EPS) estimates for fiscal year 2022 for SLM stock in a report released Thursday, January 27. Jefferies Financial Group analyst J. Hecht now expects the credit services provider to earn $2.92 per share for the year, up from its previous estimate of $2.69 . Jefferies Financial Group has a “Buy” rating and a price target of $24.00 on the stock. Jefferies Financial Group also released estimates for SLM Q2 2023 earnings at $0.57 EPS, Q4 2023 earnings at $0.63 EPS and fiscal year 2023 earnings at $3.11 EPS.
TDM has been the subject of a number of other research reports. Royal Bank of Canada raised its price target on SLM’s shares from $20.00 to $22.00 and gave the stock an “outperform” rating in a Friday, October 22 report. Barclays raised its target price on SLM shares from $25.00 to $27.00 in a Monday, January 10 research report. Stephens raised his price target on SLM shares from $23.00 to $24.00 and gave the company an “overweight” rating in a Friday, Oct. 22 research report. Finally, Credit Suisse Group raised its price target on SLM shares from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, October 22. One analyst gave the stock a hold rating, five gave the company a buy rating and one gave the company a high buy rating. According to MarketBeat, the stock has an average buy rating and a consensus price target of $23.50.
NASDAQ:SLM shares opened at $18.00 on Monday. SLM has a 12-month low of $13.68 and a 12-month high of $21.40. The company’s 50-day moving average price is $18.88 and its two-hundred-day moving average price is $18.54. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt ratio of 2.78. The company has a market capitalization of $5.28 billion, a P/E ratio of 5.06 and a beta of 1.29. SLM (NASDAQ:SLM) last released its results on Tuesday, January 25. The credit service provider reported earnings per share of $1.05 for the quarter, beating Thomson Reuters consensus estimate of $1.01 by $0.04. SLM had a net margin of 56.48% and a return on equity of 60.87%. During the same period last year, the company posted EPS of $1.15.
Several large investors have recently changed their positions in the stock. Geode Capital Management LLC increased its stake in SLM by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 6,301,077 shares of the credit service provider worth $131,944,000 after purchasing an additional 243,093 shares last quarter. AlphaCrest Capital Management LLC increased its stake in SLM by 210.2% during the 2nd quarter. AlphaCrest Capital Management LLC now owns 71,664 shares of the credit service provider worth $1,501,000 after purchasing an additional 48,564 shares in the last quarter. First Trust Advisors LP increased its stake in SLM by 6.5% during the second quarter. First Trust Advisors LP now owns 1,453,981 shares of the credit service provider worth $30,447,000 after buying an additional 89,305 shares last quarter. The Bank of Nova Scotia acquired a new stake in SLM during Q2 valued at approximately $2,722,000. Finally, Glenmede Trust Co. NA increased its stake in SLM by 350.7% during the second quarter. Glenmede Trust Co. NA now owns 1,423,904 shares of the credit service provider worth $29,816,000 after purchasing an additional 1,107,939 shares in the last quarter. Institutional investors and hedge funds hold 96.22% of the company’s shares.
SLM announced that its board of directors launched a share buyback program on Wednesday, October 20 that allows the company to repurchase $250.00 million in stock. This repurchase authorization allows the credit service provider to repurchase up to 4.5% of its shares through purchases on the open market. Share repurchase programs often indicate that the company’s board of directors believe its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 15. Investors of record on Friday, March 4 will receive a dividend of $0.11. The ex-dividend date is Thursday, March 3. This represents a dividend of $0.44 on an annualized basis and a dividend yield of 2.44%. SLM’s dividend distribution rate is 12.36%.
SLM Company Profile
SLM Corp. engages in the provision and administration of student loans. Its services include private education loans, banking, college savings and insurance services. The company was founded in 1972 and is based in Newark, DE.
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