Hsbc Holdings PLC Sells 26,045 Shares of SLM Corporation $SLM

Hsbc Holdings PLC lowered its holdings in SLM Corporation (NASDAQ:SLM) by 66.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,179 shares of the credit services provider’s stock after selling 26,045 shares during the quarter. Hsbc Holdings PLC’s holdings in SLM were worth $387,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SLM. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of SLM in the 4th quarter valued at about $140,442,000. Duquesne Family Office LLC bought a new stake in shares of SLM in the 4th quarter valued at about $69,509,000. M.D. Sass LLC bought a new stake in shares of SLM in the 1st quarter valued at about $37,317,000. Wellington Management Group LLP raised its holdings in shares of SLM by 470.6% in the 4th quarter. Wellington Management Group LLP now owns 1,126,756 shares of the credit services provider’s stock valued at $31,076,000 after purchasing an additional 929,292 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of SLM by 797.4% in the 4th quarter. Tidal Investments LLC now owns 704,971 shares of the credit services provider’s stock valued at $19,443,000 after purchasing an additional 626,412 shares in the last quarter. Institutional investors own 98.94% of the company’s stock.

Analyst Upgrades and Downgrades

SLM has been the subject of several recent research reports. Royal Bank Of Canada restated an “outperform” rating on shares of SLM in a report on Monday, July 14th. Barclays boosted their price objective on shares of SLM from $38.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Jefferies Financial Group boosted their price objective on shares of SLM from $33.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Wells Fargo & Company assumed coverage on shares of SLM in a research note on Monday, August 25th. They set an “overweight” rating and a $38.00 price objective for the company. Finally, Morgan Stanley reiterated an “overweight” rating and set a $40.00 price objective (up previously from $33.00) on shares of SLM in a research note on Wednesday, May 21st. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Insiders Place Their Bets

In other SLM news, EVP Kerri A. Palmer sold 55,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $32.21, for a total transaction of $1,771,550.00. Following the sale, the executive vice president owned 119,253 shares of the company’s stock, valued at approximately $3,841,139.13. The trade was a 31.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

SLM Stock Down 1.0%

NASDAQ:SLM opened at $30.98 on Wednesday. The company has a market cap of $6.46 billion, a PE ratio of 15.57, a P/E/G ratio of 0.88 and a beta of 1.11. SLM Corporation has a twelve month low of $19.64 and a twelve month high of $34.97. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 3.02. The company’s 50 day moving average is $32.32 and its two-hundred day moving average is $30.92.

SLM (NASDAQ:SLM) last released its earnings results on Thursday, July 24th. The credit services provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.17). The company had revenue of $403.60 million for the quarter, compared to analysts’ expectations of $370.26 million. SLM had a return on equity of 21.93% and a net margin of 15.46%.The firm’s revenue for the quarter was down 21.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.11 EPS. SLM has set its FY 2025 guidance at 3.000-3.100 EPS. Analysts anticipate that SLM Corporation will post 3.07 EPS for the current year.

SLM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 4th. SLM’s payout ratio is currently 26.13%.

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.