SLM Co. (NASDAQ:SLM) Holdings Trimmed by OLD National Bancorp IN

OLD National Bancorp IN decreased its position in shares of SLM Co. (NASDAQ:SLM) by 62.2% in the fourth quarter, Holdings Channel reports. The fund owned 12,411 shares of the credit services provider’s stock after selling 20,393 shares during the period. OLD National Bancorp IN’s holdings in SLM were worth $237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. raised its position in shares of SLM by 81.4% during the fourth quarter. Blue Trust Inc. now owns 1,328 shares of the credit services provider’s stock valued at $25,000 after buying an additional 596 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of SLM during the fourth quarter valued at about $29,000. CWM LLC raised its position in shares of SLM by 51.9% during the third quarter. CWM LLC now owns 5,632 shares of the credit services provider’s stock valued at $77,000 after buying an additional 1,925 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of SLM by 10.4% during the third quarter. Parkside Financial Bank & Trust now owns 9,033 shares of the credit services provider’s stock valued at $123,000 after buying an additional 851 shares during the last quarter. Finally, MQS Management LLC acquired a new position in shares of SLM during the third quarter valued at about $144,000. Institutional investors and hedge funds own 98.94% of the company’s stock.

SLM Price Performance

Shares of SLM stock opened at $21.93 on Friday. SLM Co. has a 1-year low of $12.26 and a 1-year high of $22.37. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 3.21. The firm’s 50-day moving average price is $20.91 and its two-hundred day moving average price is $18.17. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 6.85, a P/E/G ratio of 0.45 and a beta of 1.16.

SLM (NASDAQ:SLM) last released its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $1.27 EPS for the quarter, beating the consensus estimate of $1.09 by $0.18. SLM had a net margin of 25.15% and a return on equity of 47.72%. The business had revenue of $837.72 million for the quarter, compared to analysts’ expectations of $376.43 million. During the same period in the prior year, the firm earned $0.47 earnings per share. On average, equities analysts predict that SLM Co. will post 2.72 earnings per share for the current fiscal year.

SLM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Thursday, June 6th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $0.44 annualized dividend and a dividend yield of 2.01%. SLM’s dividend payout ratio (DPR) is currently 13.75%.

SLM declared that its Board of Directors has authorized a stock buyback plan on Wednesday, January 24th that allows the company to repurchase $650.00 million in outstanding shares. This repurchase authorization allows the credit services provider to purchase up to 14.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

SLM has been the subject of a number of research analyst reports. Citigroup raised shares of SLM from a “neutral” rating to a “buy” rating and upped their price objective for the company from $14.00 to $23.00 in a research report on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of SLM in a research note on Wednesday, January 10th. They issued a “buy” rating and a $25.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of SLM from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday. Wells Fargo & Company upped their target price on shares of SLM from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, TheStreet raised shares of SLM from a “c+” rating to a “b” rating in a research note on Wednesday, January 24th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.32.

Insider Activity

In other news, SVP Jonathan Boyles sold 94,078 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $20.72, for a total transaction of $1,949,296.16. Following the sale, the senior vice president now directly owns 52,751 shares of the company’s stock, valued at $1,093,000.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Donna F. Vieira sold 12,308 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $20.27, for a total value of $249,483.16. Following the transaction, the executive vice president now directly owns 126,500 shares in the company, valued at $2,564,155. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan Boyles sold 94,078 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $20.72, for a total transaction of $1,949,296.16. Following the completion of the transaction, the senior vice president now owns 52,751 shares in the company, valued at $1,093,000.72. The disclosure for this sale can be found here. 0.91% of the stock is owned by insiders.

SLM Company Profile

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.