Raymond James & Associates lifted its holdings in SLM Corp (NASDAQ:SLM) by 9.5% in the first quarter, HoldingsChannel reports. The firm owned 424,249 shares of the credit services provider’s stock after purchasing an additional 36,840 shares during the quarter. Raymond James & Associates’ holdings in SLM were worth $4,204,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SLM. Stevens Capital Management LP raised its holdings in SLM by 138.6% in the first quarter. Stevens Capital Management LP now owns 232,677 shares of the credit services provider’s stock worth $2,306,000 after purchasing an additional 135,166 shares in the last quarter. 13D Management LLC raised its holdings in SLM by 4.2% in the first quarter. 13D Management LLC now owns 1,272,835 shares of the credit services provider’s stock worth $12,843,000 after purchasing an additional 51,751 shares in the last quarter. Texas Permanent School Fund raised its holdings in SLM by 4.0% in the first quarter. Texas Permanent School Fund now owns 296,582 shares of the credit services provider’s stock worth $2,939,000 after purchasing an additional 11,491 shares in the last quarter. Pearl River Capital LLC raised its holdings in SLM by 137.0% in the first quarter. Pearl River Capital LLC now owns 13,746 shares of the credit services provider’s stock worth $136,000 after purchasing an additional 7,947 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in SLM by 76.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 880,000 shares of the credit services provider’s stock worth $8,721,000 after purchasing an additional 380,000 shares in the last quarter.

SLM opened at $9.55 on Tuesday. SLM Corp has a 52-week low of $7.95 and a 52-week high of $12.16. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market cap of $4.11 billion, a PE ratio of 8.93, a P/E/G ratio of 0.42 and a beta of 1.43.

SLM (NASDAQ:SLM) last posted its quarterly earnings data on Wednesday, April 17th. The credit services provider reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.04. SLM had a net margin of 25.77% and a return on equity of 20.28%. The firm had revenue of $402.28 million for the quarter, compared to the consensus estimate of $384.70 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. On average, analysts anticipate that SLM Corp will post 1.26 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.03 per share. The ex-dividend date is Thursday, June 6th. This represents a $0.12 annualized dividend and a dividend yield of 1.26%. SLM’s dividend payout ratio (DPR) is currently 11.21%.

A number of equities analysts have commented on SLM shares. Zacks Investment Research downgraded shares of SLM from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. ValuEngine upgraded shares of SLM from a “sell” rating to a “hold” rating in a report on Wednesday, February 13th. BidaskClub downgraded shares of SLM from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 26th. Oppenheimer set a $14.00 target price on shares of SLM and gave the stock a “buy” rating in a report on Sunday, April 21st. Finally, Wedbush set a $13.00 target price on shares of SLM and gave the stock a “buy” rating in a report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. SLM has an average rating of “Hold” and a consensus target price of $13.00.

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About SLM

SLM Corporation, through its subsidiaries, operates as a saving, planning, and paying for college company in the United States. The company originates and services private education loans to students or their families. It also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high yield savings accounts; omnibus accounts; and a consumer savings network that provides financial rewards on everyday purchases to help families save for college.

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Want to see what other hedge funds are holding SLM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SLM Corp (NASDAQ:SLM).

Institutional Ownership by Quarter for SLM (NASDAQ:SLM)

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