SLM Co. (NASDAQ: SLM) Update on Short-Term Interest


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SLM Co. (NASDAQ: SLM) was the target of significant growth in overdraft interest during the month of December. As of December 15, there was short interest totaling 4,940,000 shares, an increase of 23.2% over the November 30 total of 4,010,000 shares. Based on an average trading volume of 2,050,000 shares, the day / coverage ratio is currently 2.4 days. About 1.7% of stocks are sold short.

Several institutional investors and hedge funds have recently changed their positions in SLM. Brown Brothers Harriman & Co. acquired a new position in SLM in the second quarter valued at approximately $ 25,000. First Quadrant LP CA acquired a new position in SLM in the third quarter valued at approximately $ 32,000. Advisory Services Network LLC acquired a new position in SLM in the second quarter valued at approximately $ 84,000. LPL Financial LLC acquired a new position in SLM in the third quarter valued at approximately $ 193,000. Finally, M&T Bank Corp acquired a new position in SLM in the second quarter valued at approximately $ 211,000. 95.56% of the shares are held by hedge funds and other institutional investors.

A number of equity analysts recently commented on the stock. Jefferies Financial Group reiterated a “buy” note and set a price target of $ 24.00 on SLM shares in a report released on Thursday, December 30. Credit Suisse Group increased its target price on SLM shares from $ 24.00 to $ 25.00 and gave the company an “outperformance” rating in a Friday October 22nd research note. Royal Bank of Canada raised its price target on SLM shares from $ 20.00 to $ 22.00 and assigned the company an “outperformance” rating in a research note on Friday October 22. Finally, Stephens raised his target price on SLM shares from $ 23.00 to $ 24.00 and assigned the stock an “overweight” rating in a report released on Friday, October 22. One analyst rated the stock with a conservation rating, six issued a buy rating, and another assigned a high buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $ 23.61.

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Actions of GDT traded up $ 0.25 during trading hours on Friday, reaching $ 20.44. The stock had a trading volume of 72,065 shares, compared to its average volume of 1,446,106. The company has a debt to equity ratio of 2.78, a quick ratio of 1.23 and a current ratio of 1. , 23. The company has a 50-day moving average price of $ 18.69 and a 200-day moving average price of $ 18.69. SLM has a 52 week minimum of $ 12.02 and a 52 week maximum of $ 21.40. The company has a market cap of $ 5.99 billion, a price-to-earnings ratio of 5.67, and a beta of 1.29.

SLM (NASDAQ: SLM) last released its quarterly results on Tuesday, October 19. The credit service provider reported EPS of $ 0.24 for the quarter, beating the consensus estimate of $ 0.17 by $ 0.07. The company posted revenue of $ 357.52 million in the quarter, compared to analysts’ estimates of $ 342.52 million. SLM had a net margin of 56.48% and a return on equity of 60.87%. In the same quarter of the previous year, the company achieved EPS of $ 0.47. As a group, analysts predict that SLM will post 3.57 EPS for the current fiscal year.

SLM announced that its board of directors launched a share repurchase plan on Wednesday, October 20 that allows the company to repurchase $ 250.00 million of shares. This repurchase authorization allows the credit service provider to buy up to 4.5% of its shares through open market purchases. Share buyback plans are usually a sign that company management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 15. Investors of record on Friday, December 3 received a dividend of $ 0.11. The ex-dividend date of this dividend was Thursday, December 2. This represents a dividend of $ 0.44 on an annualized basis and a dividend yield of 2.15%. This is a positive change from SLM’s previous quarterly dividend of $ 0.03. SLM’s dividend payout ratio is currently 12.36%.

About SLM

SLM Corp. deals with the provision and administration of student loans. Its services include private student loans, banking services, college savings services, and insurance services. The company was founded in 1972 and is headquartered in Newark, DE.

Further Reading: Investing in Dividend Stocks

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