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

SLM Co. (NASDAQ:SLMBP) saw a large growth in short interest in February. As of February 13th, there was short interest totaling 9,559 shares, a growth of 61.8% from the January 29th total of 5,907 shares. Based on an average daily volume of 2,334 shares, the short-interest ratio is currently 4.1 days. Based on an average daily volume of 2,334 shares, the short-interest ratio is currently 4.1 days.

Analysts Set New Price Targets

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

SLM Trading Down 1.2%

NASDAQ:SLMBP opened at $74.62 on Friday. The company’s 50-day moving average is $74.23 and its two-hundred day moving average is $75.04. SLM has a 1-year low of $65.50 and a 1-year high of $83.15.

SLM Cuts Dividend

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

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.