SLM Co. (NASDAQ:SLMBP) Short Interest Down 79.0% in January

SLM Co. (NASDAQ:SLMBP) saw a significant drop in short interest in the month of January. As of January 15th, there was short interest totaling 6,585 shares, a drop of 79.0% from the December 31st total of 31,311 shares. Based on an average daily volume of 3,134 shares, the days-to-cover ratio is currently 2.1 days. Based on an average daily volume of 3,134 shares, the days-to-cover ratio is currently 2.1 days.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. TD Cowen reiterated a “buy” rating on shares of SLM in a research note on Friday, December 5th. UBS Group set a $40.00 price objective on SLM in a report on Friday, December 5th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of SLM in a research report on Wednesday, December 10th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, SLM presently has an average rating of “Moderate Buy” and an average price target of $40.00.

SLM Trading Down 1.0%

Shares of SLMBP stock traded down $0.77 during trading hours on Friday, reaching $74.23. The company’s stock had a trading volume of 14,316 shares, compared to its average volume of 4,159. SLM has a fifty-two week low of $65.50 and a fifty-two week high of $83.15. The firm’s 50 day simple moving average is $74.17 and its 200-day simple moving average is $75.18.

SLM Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Thursday, March 5th will be paid a $1.4327 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $5.73 annualized dividend and a yield of 7.7%.

About SLM

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.