B. Riley Reaffirms “Buy” Rating for SLM (SLM)

SLM (NASDAQ:SLM)‘s stock had its “buy” rating restated by B. Riley in a report released on Thursday. They currently have a $13.00 target price on the credit services provider’s stock, down from their previous target price of $14.00. B. Riley’s target price indicates a potential upside of 15.76% from the stock’s current price.

Several other analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of SLM from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Thursday, January 11th. Jefferies Group restated a “buy” rating and set a $16.00 price objective on shares of SLM in a research report on Thursday, January 11th. Citigroup initiated coverage on shares of SLM in a research report on Monday, January 8th. They set an “outperform” rating and a $17.00 price objective on the stock. Oppenheimer initiated coverage on shares of SLM in a research report on Monday, January 8th. They set an “outperform” rating and a $17.00 price objective on the stock. Finally, BMO Capital Markets restated a “hold” rating and set a $15.00 price objective on shares of SLM in a research report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $14.40.

Shares of SLM (SLM) opened at $11.23 on Thursday. SLM has a 52 week low of $9.65 and a 52 week high of $13.20. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.35. The stock has a market cap of $4,962.41, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 0.53 and a beta of 1.33.

SLM (NASDAQ:SLM) last posted its earnings results on Wednesday, January 17th. The credit services provider reported $0.19 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.19. SLM had a net margin of 20.23% and a return on equity of 16.93%. The business had revenue of $309.19 million for the quarter, compared to analysts’ expectations of $299.64 million. During the same period in the prior year, the company posted $0.15 EPS. equities analysts anticipate that SLM will post 1.03 earnings per share for the current fiscal year.

In related news, CEO Raymond J. Quinlan sold 200,000 shares of SLM stock in a transaction on Friday, December 1st. The shares were sold at an average price of $11.52, for a total value of $2,304,000.00. Following the transaction, the chief executive officer now owns 1,080,133 shares in the company, valued at approximately $12,443,132.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jonathan Boyles sold 2,776 shares of SLM stock in a transaction on Monday, December 4th. The stock was sold at an average price of $11.65, for a total transaction of $32,340.40. Following the completion of the transaction, the senior vice president now owns 173,728 shares in the company, valued at approximately $2,023,931.20. The disclosure for this sale can be found here. Company insiders own 0.59% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. raised its position in SLM by 4.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,314,685 shares of the credit services provider’s stock worth $26,156,000 after purchasing an additional 95,102 shares during the period. Nationwide Fund Advisors raised its position in SLM by 9.0% in the 2nd quarter. Nationwide Fund Advisors now owns 1,442,598 shares of the credit services provider’s stock worth $16,590,000 after purchasing an additional 119,024 shares during the period. Rhumbline Advisers raised its position in SLM by 16.9% in the 3rd quarter. Rhumbline Advisers now owns 909,428 shares of the credit services provider’s stock worth $10,431,000 after purchasing an additional 131,348 shares during the period. Chartwell Investment Partners LLC raised its position in SLM by 4.4% in the 3rd quarter. Chartwell Investment Partners LLC now owns 407,916 shares of the credit services provider’s stock worth $4,678,000 after purchasing an additional 17,010 shares during the period. Finally, Mutual of America Capital Management LLC raised its position in SLM by 3.5% in the 2nd quarter. Mutual of America Capital Management LLC now owns 357,472 shares of the credit services provider’s stock worth $4,111,000 after purchasing an additional 12,017 shares during the period. Institutional investors own 99.24% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece was first reported by Community Financial News and is the sole property of of Community Financial News. If you are viewing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The legal version of this piece can be read at https://www.com-unik.info/2018/01/18/b-riley-reiterates-buy-rating-for-slm-slm.html.

About SLM

SLM Corporation (Sallie Mae) is the nation’s saving, planning, and paying for college company. Sallie Mae offers products, which promote personal finance including private education loans, Upromise rewards, scholarship search, college financial planning tools, insurance, and online retail banking.

Analyst Recommendations for SLM (NASDAQ:SLM)

Receive News & Ratings for SLM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SLM and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit