SLM Corp (NASDAQ:SLM) Shares Acquired by Rhumbline Advisers
Rhumbline Advisers raised its holdings in shares of SLM Corp (NASDAQ:SLM) by 8.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,127,834 shares of the credit services provider’s stock after buying an additional 90,897 shares during the quarter. Rhumbline Advisers’ holdings in SLM were worth $8,109,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of SLM in the 4th quarter valued at $25,000. Advisor Group Inc. lifted its stake in shares of SLM by 40.7% in the 4th quarter. Advisor Group Inc. now owns 6,449 shares of the credit services provider’s stock valued at $58,000 after purchasing an additional 1,864 shares during the period. Chevy Chase Trust Holdings Inc. acquired a new position in shares of SLM in the 4th quarter valued at $64,000. Meeder Asset Management Inc. lifted its stake in shares of SLM by 5,099.3% in the 4th quarter. Meeder Asset Management Inc. now owns 7,695 shares of the credit services provider’s stock valued at $68,000 after purchasing an additional 7,547 shares during the period. Finally, IBM Retirement Fund acquired a new position in shares of SLM in the 1st quarter valued at $73,000. Institutional investors and hedge funds own 97.00% of the company’s stock.
SLM has been the subject of several analyst reports. Credit Suisse Group reiterated a “buy” rating and issued a $12.00 target price on shares of SLM in a research note on Thursday, April 23rd. Zacks Investment Research cut shares of SLM from a “strong-buy” rating to a “hold” rating and set a $8.00 target price for the company. in a research note on Friday, April 24th. TheStreet upgraded shares of SLM from a “c+” rating to a “b-” rating in a research note on Wednesday, February 5th. ValuEngine lowered shares of SLM from a “sell” rating to a “strong sell” rating in a report on Thursday, April 9th. Finally, BMO Capital Markets lowered shares of SLM from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $12.00 to $9.00 in a report on Thursday, May 14th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $11.33.
SLM (NASDAQ:SLM) last issued its quarterly earnings results on Wednesday, April 22nd. The credit services provider reported $0.79 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.09). SLM had a return on equity of 29.22% and a net margin of 29.36%. The company had revenue of $400.12 million during the quarter, compared to analysts’ expectations of $400.70 million. During the same period in the previous year, the firm posted $0.34 EPS. On average, equities analysts predict that SLM Corp will post 1.26 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Thursday, June 4th. SLM’s payout ratio is 9.45%.
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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