Q2 2024 EPS Estimates for SLM Co. (NASDAQ:SLM) Decreased by Wedbush

SLM Co. (NASDAQ:SLM) – Research analysts at Wedbush lowered their Q2 2024 earnings per share estimates for shares of SLM in a research report issued to clients and investors on Thursday, April 25th. Wedbush analyst D. Chiaverini now expects that the credit services provider will post earnings per share of $0.44 for the quarter, down from their prior estimate of $0.45. Wedbush has a “Outperform” rating and a $28.00 price objective on the stock. The consensus estimate for SLM’s current full-year earnings is $2.72 per share. Wedbush also issued estimates for SLM’s Q3 2024 earnings at $0.49 EPS, Q4 2024 earnings at $0.45 EPS, FY2024 earnings at $2.66 EPS, Q1 2025 earnings at $1.25 EPS, Q2 2025 earnings at $0.48 EPS, Q3 2025 earnings at $0.59 EPS and Q4 2025 earnings at $0.58 EPS.

SLM (NASDAQ:SLM) last posted its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $837.72 million during the quarter, compared to analysts’ expectations of $376.43 million. During the same period in the prior year, the company posted $0.47 earnings per share.

A number of other research firms have also recently weighed in on SLM. Citigroup raised shares of SLM from a “neutral” rating to a “buy” rating and upped their price target for the stock from $14.00 to $23.00 in a research note on Tuesday, January 16th. TheStreet raised shares of SLM from a “c+” rating to a “b” rating in a report on Wednesday, January 24th. Wells Fargo & Company lifted their price target on shares of SLM from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Royal Bank of Canada upped their price target on SLM from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on SLM in a report on Wednesday, January 10th. They set a “buy” rating and a $25.00 price objective for the company. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, SLM has a consensus rating of “Moderate Buy” and a consensus target price of $21.32.

SLM Trading Down 0.1 %

Shares of SLM stock opened at $21.90 on Friday. The business’s fifty day moving average price is $20.94 and its 200 day moving average price is $18.23. The firm has a market capitalization of $4.83 billion, a PE ratio of 6.84, a P/E/G ratio of 0.45 and a beta of 1.16. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.22 and a quick ratio of 1.22. SLM has a 1-year low of $12.26 and a 1-year high of $22.37.

SLM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Thursday, June 6th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Wednesday, June 5th. SLM’s dividend payout ratio is presently 13.75%.

SLM declared that its board has initiated a stock buyback program on Wednesday, January 24th that allows the company to repurchase $650.00 million in shares. This repurchase authorization allows the credit services provider to buy up to 14.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity at SLM

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

Institutional Investors Weigh In On SLM

A number of institutional investors have recently modified their holdings of the stock. Sapient Capital LLC bought a new stake in SLM in the fourth quarter valued at $1,785,000. Quantbot Technologies LP acquired a new position in SLM during the 3rd quarter valued at about $713,000. Parkside Financial Bank & Trust grew its position in SLM by 13.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 10,266 shares of the credit services provider’s stock worth $196,000 after purchasing an additional 1,233 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of SLM by 25.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 155,595 shares of the credit services provider’s stock valued at $2,092,000 after purchasing an additional 31,595 shares during the period. Finally, New York State Common Retirement Fund raised its holdings in shares of SLM by 31.2% during the third quarter. New York State Common Retirement Fund now owns 684,103 shares of the credit services provider’s stock valued at $9,317,000 after buying an additional 162,853 shares during the last quarter. Institutional investors and hedge funds own 98.94% of the company’s stock.

About SLM

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.