SLM Co. (NASDAQ:SLMBP) Sees Significant Growth in Short Interest

SLM Co. (NASDAQ:SLMBP) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totaling 31,311 shares, an increase of 42.6% from the December 15th total of 21,956 shares. Based on an average trading volume of 12,905 shares, the days-to-cover ratio is currently 2.4 days. Based on an average trading volume of 12,905 shares, the days-to-cover ratio is currently 2.4 days.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SLMBP. UBS Group set a $40.00 price objective on SLM in a report on Friday, December 5th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of SLM in a report on Wednesday, December 10th. Finally, Cowen reiterated a “buy” rating on shares of SLM in a research note on Friday, December 5th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, SLM presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

SLM Stock Performance

SLM stock traded down $0.38 during midday trading on Friday, reaching $72.86. 6,706 shares of the stock were exchanged, compared to its average volume of 3,501. SLM has a 52 week low of $65.50 and a 52 week high of $83.15. The company’s fifty day moving average is $74.38 and its 200-day moving average is $75.16.

SLM Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Thursday, December 4th were given a $1.5122 dividend. This represents a $6.05 dividend on an annualized basis and a dividend yield of 8.3%. The ex-dividend date was Thursday, December 4th.

SLM Company Profile

SLM Corporation, doing business as Sallie Mae, is a U.S.-based provider of private student loans, servicing, and banking products. The company specializes in originating and servicing education loans for undergraduate, graduate and professional students, as well as career and technical training programs. In addition to its core student lending business, Sallie Mae offers deposit products, credit cards and digital tools designed to help customers manage personal finances and plan for higher-education expenses.

Sallie Mae’s product suite includes fixed- and variable-rate private student loans, graduate student loans, parent loans and career training loans.