Short Interest in SLM Co. (NASDAQ:SLMBP) Rises By 61.8%

SLM Co. (NASDAQ:SLMBP) was the target of a significant growth in short interest in February. As of February 13th, there was short interest totaling 9,559 shares, a growth of 61.8% from the January 29th total of 5,907 shares. Based on an average daily volume of 2,334 shares, the days-to-cover ratio is currently 4.1 days. Based on an average daily volume of 2,334 shares, the days-to-cover ratio is currently 4.1 days.

Analyst Ratings Changes

SLMBP has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of SLM in a research report on Wednesday, December 10th. UBS Group set a $40.00 target price on shares of SLM in a research report on Friday, December 5th. Finally, TD Cowen reissued a “buy” rating on shares of SLM in a research note on Friday, December 5th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, SLM currently has an average rating of “Moderate Buy” and an average price target of $40.00.

SLM Trading Down 1.2%

SLMBP traded down $0.88 during midday trading on Friday, hitting $74.62. The company had a trading volume of 13,306 shares, compared to its average volume of 4,039. SLM has a 52 week low of $65.50 and a 52 week high of $83.15. The stock’s 50 day moving average price is $74.23 and its 200 day moving average price is $75.04.

SLM Cuts Dividend

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

About SLM

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.