SLM (NASDAQ:SLM) Issues Quarterly Earnings Results

SLM (NASDAQ:SLM) posted its earnings results on Thursday. The credit services provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.70, FiscalAI reports. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $486.05 million. SLM had a return on equity of 34.79% and a net margin of 26.04%.

SLM Stock Up 1.4%

Shares of SLM traded up $0.32 during midday trading on Thursday, hitting $23.42. The company had a trading volume of 8,226,164 shares, compared to its average volume of 3,773,540. The company’s 50-day simple moving average is $21.20 and its 200-day simple moving average is $25.19. The company has a debt-to-equity ratio of 2.44, a quick ratio of 1.24 and a current ratio of 1.28. The firm has a market capitalization of $4.64 billion, a P/E ratio of 6.75, a P/E/G ratio of 2.67 and a beta of 1.04. SLM has a 1 year low of $17.77 and a 1 year high of $34.97.

SLM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Thursday, June 4th will be given a $0.13 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.52 dividend on an annualized basis and a yield of 2.2%. SLM’s dividend payout ratio (DPR) is currently 14.99%.

Analyst Ratings Changes

A number of research firms have commented on SLM. Weiss Ratings cut shares of SLM from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. Wells Fargo & Company reduced their price target on shares of SLM from $32.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Morgan Stanley lowered their price objective on shares of SLM from $29.00 to $26.00 and set an “equal weight” rating for the company in a research report on Thursday, April 16th. Barclays dropped their target price on shares of SLM from $35.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, April 6th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $40.00 price target on shares of SLM in a research note on Friday, January 23rd. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $29.40.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SLM. NewEdge Advisors LLC raised its holdings in shares of SLM by 6.6% in the 1st quarter. NewEdge Advisors LLC now owns 21,350 shares of the credit services provider’s stock valued at $627,000 after purchasing an additional 1,319 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of SLM in the 1st quarter valued at $263,000. Goldman Sachs Group Inc. raised its stake in SLM by 33.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 547,724 shares of the credit services provider’s stock worth $16,087,000 after acquiring an additional 137,285 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in SLM by 118.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,995 shares of the credit services provider’s stock worth $131,000 after acquiring an additional 2,164 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in SLM by 6.1% in the second quarter. Captrust Financial Advisors now owns 36,889 shares of the credit services provider’s stock valued at $1,210,000 after acquiring an additional 2,109 shares during the last quarter. Hedge funds and other institutional investors own 98.94% of the company’s stock.

SLM Company Profile

SLM Corporation, operating as Sallie Mae Bank, is a leading U.S.-based consumer banking company specializing in education financing and related banking products. The company provides a range of private student loans for undergraduate and graduate studies, Parent PLUS loans, and specialized financing for career and certificate programs. In addition to its core lending services, Sallie Mae offers deposit products including savings accounts, checking accounts, money market accounts, certificates of deposit, and credit cards tailored to students and young adults.

Founded in 1972 as the Student Loan Marketing Association—a government-sponsored enterprise—Sallie Mae was privatized in 2004 and has since focused on expanding its private education loan offerings and digital banking solutions.