TD Cowen Issues Positive Forecast for SLM (NASDAQ:SLM) Stock Price

SLM (NASDAQ:SLM) had its price objective raised by analysts at TD Cowen from $39.00 to $40.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the credit services provider’s stock. TD Cowen’s price target indicates a potential upside of 31.00% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Wall Street Zen raised SLM from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Barclays lowered their target price on SLM from $43.00 to $35.00 and set an “overweight” rating for the company in a report on Monday, October 6th. Weiss Ratings raised SLM from a “hold (c)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Cowen reaffirmed a “buy” rating on shares of SLM in a research report on Friday. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of SLM from $37.00 to $31.00 and set a “market perform” rating on the stock in a report on Wednesday, October 1st. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.67.

SLM Stock Performance

Shares of SLM traded up $0.38 during trading hours on Friday, reaching $30.54. 855,247 shares of the company traded hands, compared to its average volume of 2,632,980. The stock’s fifty day moving average is $27.43 and its 200 day moving average is $30.26. The company has a debt-to-equity ratio of 3.27, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $6.20 billion, a P/E ratio of 10.72, a price-to-earnings-growth ratio of 0.71 and a beta of 1.14. SLM has a 1-year low of $23.81 and a 1-year high of $34.97.

SLM (NASDAQ:SLM) last issued its quarterly earnings data on Monday, February 14th. The credit services provider reported $1.15 EPS for the quarter. The firm had revenue of ($3.44) million for the quarter. SLM had a net margin of 21.76% and a return on equity of 30.13%. SLM has set its FY 2022 guidance at $2.800-$3.000 EPS. Equities research analysts anticipate that SLM will post 3.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SLM

Several institutional investors have recently modified their holdings of SLM. Triumph Capital Management bought a new position in SLM during the 3rd quarter valued at about $69,000. Entropy Technologies LP raised its holdings in shares of SLM by 616.6% during the third quarter. Entropy Technologies LP now owns 109,485 shares of the credit services provider’s stock valued at $3,031,000 after purchasing an additional 94,207 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in SLM during the third quarter valued at approximately $951,000. Arkadios Wealth Advisors boosted its holdings in SLM by 11.4% in the third quarter. Arkadios Wealth Advisors now owns 8,315 shares of the credit services provider’s stock worth $230,000 after purchasing an additional 853 shares during the last quarter. Finally, Quent Capital LLC purchased a new stake in SLM in the third quarter worth approximately $118,000. 98.94% of the stock is owned by hedge funds and other institutional investors.

About SLM

SLM Corporation, through its subsidiaries, originates and services private education loans to students and their families to finance the cost of their education in the United States. It is also involved in the provision of retail deposit accounts, including certificates of deposit, money market accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.