SLM Co. (NASDAQ:SLMBP) Short Interest Down 26.7% in March

SLM Co. (NASDAQ:SLMBP) saw a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 11,087 shares, a decrease of 26.7% from the February 26th total of 15,129 shares. Based on an average trading volume of 3,489 shares, the days-to-cover ratio is currently 3.2 days.

SLM Trading Up 0.4%

SLM stock traded up $0.29 during midday trading on Friday, hitting $74.79. The stock had a trading volume of 1,265 shares, compared to its average volume of 3,663. The firm’s fifty day moving average is $74.84 and its two-hundred day moving average is $74.90. SLM has a 52-week low of $65.50 and a 52-week high of $83.15.

SLM Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Thursday, March 5th were given a $1.4327 dividend. This represents a $5.73 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date was Thursday, March 5th.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SLMBP. UBS Group set a $40.00 price target on shares of SLM in a research report on Friday, December 5th. Bank of America restated a “buy” rating on shares of SLM in a research report on Monday, March 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of SLM in a report on Wednesday, December 10th. Finally, TD Cowen reiterated a “buy” rating on shares of SLM in a research note on Friday, December 5th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, SLM currently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

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.