Short Interest in SLM Co. (NASDAQ:SLMBP) Drops By 79.0%

SLM Co. (NASDAQ:SLMBP) was the target of a significant drop in short interest during the month of January. As of January 15th, there was short interest totaling 6,585 shares, a drop of 79.0% from the December 31st total of 31,311 shares. Based on an average trading volume of 3,134 shares, the short-interest ratio is presently 2.1 days. Based on an average trading volume of 3,134 shares, the short-interest ratio is presently 2.1 days.

SLM Price Performance

SLM stock traded down $0.01 during midday trading on Wednesday, reaching $74.87. The company’s stock had a trading volume of 301 shares, compared to its average volume of 3,600. The stock’s 50 day simple moving average is $74.18 and its 200 day simple moving average is $75.19. SLM has a fifty-two week low of $65.50 and a fifty-two week high of $83.15.

SLM Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Thursday, March 5th will be paid a dividend of $1.4327 per share. The ex-dividend date is Thursday, March 5th. This represents a $5.73 annualized dividend and a yield of 7.7%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SLMBP shares. TD Cowen reiterated a “buy” rating on shares of SLM in a research note on Friday, December 5th. UBS Group set a $40.00 target price on SLM in a research note on Friday, December 5th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating on shares of SLM in a research note on Wednesday, December 10th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

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.