SLM Corporation (SLM) Receives New Coverage from Analysts at Citigroup Inc.

Investment analysts at Citigroup Inc. started coverage on shares of SLM Corporation (NASDAQ:SLM) in a research note issued to investors on Monday, October 16th, MarketBeat reports. The brokerage set a “buy” rating and a $16.00 price target on the credit services provider’s stock. Citigroup Inc.’s target price points to a potential upside of 48.15% from the stock’s previous close.

A number of other research firms have also recently issued reports on SLM. BMO Capital Markets reiterated a “hold” rating and issued a $12.00 target price on shares of SLM Corporation in a research note on Friday, October 6th. BidaskClub upgraded shares of SLM Corporation from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 28th. FBR & Co restated a “buy” rating and set a $13.00 price objective on shares of SLM Corporation in a research note on Tuesday, September 19th. Wedbush restated an “outperform” rating and set a $14.50 price objective on shares of SLM Corporation in a research note on Thursday, September 14th. Finally, Zacks Investment Research cut shares of SLM Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $13.44.

Shares of SLM Corporation (NASDAQ SLM) traded up 0.19% on Monday, reaching $10.80. 2,642,608 shares of the company traded hands. The company has a 50-day moving average of $10.94 and a 200-day moving average of $11.08. SLM Corporation has a 1-year low of $6.93 and a 1-year high of $13.20. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 17.42 and a beta of 1.25.

SLM Corporation (NASDAQ:SLM) last posted its earnings results on Wednesday, October 18th. The credit services provider reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The company had revenue of $282.06 million for the quarter, compared to analysts’ expectations of $282.02 million. SLM Corporation had a return on equity of 16.63% and a net margin of 22.95%. The firm’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same period last year, the business posted $0.12 earnings per share. Analysts anticipate that SLM Corporation will post $0.71 earnings per share for the current fiscal year.

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A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in SLM Corporation by 2.7% in the first quarter. Vanguard Group Inc. now owns 23,780,993 shares of the credit services provider’s stock worth $287,750,000 after acquiring an additional 626,211 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in SLM Corporation by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,454,466 shares of the credit services provider’s stock worth $90,202,000 after purchasing an additional 64,956 shares in the last quarter. Geode Capital Management LLC increased its stake in SLM Corporation by 6.8% in the 1st quarter. Geode Capital Management LLC now owns 3,509,889 shares of the credit services provider’s stock worth $42,469,000 after purchasing an additional 223,357 shares in the last quarter. AQR Capital Management LLC increased its stake in SLM Corporation by 249.2% in the 1st quarter. AQR Capital Management LLC now owns 2,274,643 shares of the credit services provider’s stock worth $27,523,000 after purchasing an additional 1,623,204 shares in the last quarter. Finally, Janus Capital Management LLC increased its stake in SLM Corporation by 19.7% in the 1st quarter. Janus Capital Management LLC now owns 1,761,003 shares of the credit services provider’s stock worth $21,308,000 after purchasing an additional 290,290 shares in the last quarter. Hedge funds and other institutional investors own 98.65% of the company’s stock.

About SLM Corporation

SLM Corporation (Sallie Mae) is the nation’s saving, planning, and paying for college company. Sallie Mae offers products, which promote personal finance including private education loans, Upromise rewards, scholarship search, college financial planning tools, insurance, and online retail banking.

Analyst Recommendations for SLM Corporation (NASDAQ:SLM)

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