SLM (NASDAQ:SLM) Now Covered by Wells Fargo & Company

Research analysts at Wells Fargo & Company started coverage on shares of SLM (NASDAQ:SLM) in a research note issued on Monday. The firm set an “overweight” rating and a $38.00 price target on the credit services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 20.58% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of SLM in a research report on Monday, July 14th. Barclays boosted their target price on SLM from $38.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Morgan Stanley reissued an “overweight” rating and set a $40.00 target price (up from $33.00) on shares of SLM in a report on Wednesday, May 21st. Jefferies Financial Group boosted their target price on SLM from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. raised SLM from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $29.00 to $38.00 in a report on Friday, July 11th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

SLM Stock Down 0.7%

Shares of NASDAQ:SLM traded down $0.2150 during trading on Monday, hitting $31.5150. 58,032 shares of the company’s stock traded hands, compared to its average volume of 2,540,001. SLM has a 52 week low of $19.64 and a 52 week high of $34.97. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 3.02. The company has a market cap of $6.57 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 0.89 and a beta of 1.13. The company has a 50-day moving average price of $32.36 and a 200-day moving average price of $30.85.

SLM (NASDAQ:SLM) last released its quarterly earnings data on Thursday, July 24th. The credit services provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.17). SLM had a net margin of 15.46% and a return on equity of 21.93%. The business had revenue of $403.60 million for the quarter, compared to the consensus estimate of $370.26 million. During the same quarter last year, the firm earned $1.11 EPS. The company’s revenue for the quarter was down 21.4% on a year-over-year basis. SLM has set its FY 2025 guidance at 3.000-3.100 EPS. As a group, research analysts forecast that SLM will post 3.07 EPS for the current fiscal year.

Insider Buying and Selling at SLM

In other news, EVP Kerri A. Palmer sold 55,000 shares of the company’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $32.21, for a total transaction of $1,771,550.00. Following the completion of the sale, the executive vice president directly owned 119,253 shares in the company, valued at approximately $3,841,139.13. This represents a 31.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On SLM

A number of institutional investors have recently modified their holdings of the business. J.Safra Asset Management Corp acquired a new position in SLM in the 1st quarter worth about $25,000. City Holding Co. acquired a new position in SLM in the 2nd quarter worth about $25,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of SLM in the first quarter valued at about $45,000. Fifth Third Bancorp increased its stake in shares of SLM by 37.7% in the first quarter. Fifth Third Bancorp now owns 1,714 shares of the credit services provider’s stock valued at $50,000 after buying an additional 469 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of SLM by 355.4% in the first quarter. UMB Bank n.a. now owns 1,899 shares of the credit services provider’s stock valued at $56,000 after buying an additional 1,482 shares during the period. Institutional investors and hedge funds own 98.94% of the company’s stock.

SLM Company Profile

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 is also involved in the provision of retail deposit accounts, including certificates of deposit, money market accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.