Wells Fargo & Company Forecasts Strong Price Appreciation for SLM (NASDAQ:SLM) Stock

SLM (NASDAQ:SLM) had its price objective boosted by stock analysts at Wells Fargo & Company from $32.00 to $33.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the credit services provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 11.20% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods lifted their price target on SLM from $30.00 to $32.00 and gave the company a “market perform” rating in a report on Friday. Morgan Stanley lifted their price target on SLM from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Barclays lowered their price target on SLM from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Compass Point boosted their target price on SLM from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their target price on SLM from $27.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.18.

SLM Trading Up 1.3 %

Shares of SLM stock traded up $0.38 on Friday, reaching $29.68. 1,630,989 shares of the company were exchanged, compared to its average volume of 2,567,062. The stock has a fifty day moving average price of $27.18 and a 200-day moving average price of $23.83. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 10.35, a price-to-earnings-growth ratio of 0.79 and a beta of 1.21. The company has a current ratio of 1.29, a quick ratio of 1.27 and a debt-to-equity ratio of 3.21. SLM has a fifty-two week low of $18.84 and a fifty-two week high of $31.49.

SLM (NASDAQ:SLM) last announced its earnings results on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.06). SLM had a return on equity of 35.92% and a net margin of 22.18%. On average, analysts expect that SLM will post 2.72 EPS for the current year.

Insider Transactions at SLM

In related news, Director Robert S. Strong sold 4,500 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $27.25, for a total transaction of $122,625.00. Following the completion of the transaction, the director now owns 83,130 shares of the company’s stock, valued at approximately $2,265,292.50. The trade was a 5.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SLM

Large investors have recently made changes to their positions in the business. Waldron Private Wealth LLC acquired a new position in SLM in the 3rd quarter valued at approximately $31,000. True Wealth Design LLC acquired a new position in SLM in the 3rd quarter valued at approximately $31,000. Blue Trust Inc. raised its holdings in SLM by 358.7% in the 3rd quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider’s stock valued at $32,000 after acquiring an additional 1,094 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in SLM in the 3rd quarter valued at approximately $35,000. Finally, Covestor Ltd raised its holdings in SLM by 110.3% in the 3rd quarter. Covestor Ltd now owns 4,404 shares of the credit services provider’s stock valued at $101,000 after acquiring an additional 2,310 shares in the last quarter. Institutional investors and hedge funds own 98.94% of the company’s stock.

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.