Westpac Banking Corp lifted its holdings in shares of SLM Corp (NASDAQ:SLM) by 29.4% during the 1st quarter, HoldingsChannel reports. The firm owned 449,749 shares of the credit services provider’s stock after purchasing an additional 102,090 shares during the quarter. Westpac Banking Corp’s holdings in SLM were worth $4,457,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in SLM. Geode Capital Management LLC lifted its holdings in shares of SLM by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 4,672,277 shares of the credit services provider’s stock valued at $38,826,000 after purchasing an additional 307,406 shares in the last quarter. MUFG Securities EMEA plc bought a new position in shares of SLM in the fourth quarter valued at approximately $5,817,000. Municipal Employees Retirement System of Michigan bought a new position in shares of SLM in the fourth quarter valued at approximately $869,000. Brandywine Global Investment Management LLC lifted its holdings in shares of SLM by 1.9% in the fourth quarter. Brandywine Global Investment Management LLC now owns 5,589,174 shares of the credit services provider’s stock valued at $46,447,000 after purchasing an additional 103,852 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of SLM by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 117,000 shares of the credit services provider’s stock valued at $1,159,000 after purchasing an additional 1,400 shares in the last quarter.
NASDAQ:SLM opened at $9.56 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.38 and a quick ratio of 1.38. SLM Corp has a 1 year low of $7.95 and a 1 year high of $12.16. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 0.42 and a beta of 1.44.
SLM (NASDAQ:SLM) last released its earnings results on Wednesday, April 17th. The credit services provider reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.04. SLM had a return on equity of 20.28% and a net margin of 25.77%. The business had revenue of $402.28 million during the quarter, compared to the consensus estimate of $384.70 million. During the same period last year, the business posted $0.28 earnings per share. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, equities research analysts predict that SLM Corp will post 1.26 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, June 7th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Thursday, June 6th. SLM’s dividend payout ratio is currently 11.21%.
A number of research analysts have recently weighed in on SLM shares. Oppenheimer set a $14.00 target price on SLM and gave the company a “buy” rating in a report on Sunday, April 21st. BidaskClub lowered SLM from a “hold” rating to a “sell” rating in a report on Wednesday, March 13th. ValuEngine lowered SLM from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Wedbush set a $13.00 price target on SLM and gave the company a “buy” rating in a research report on Monday, April 22nd. Finally, Zacks Investment Research downgraded SLM from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $13.00.
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SLM Company Profile
SLM Corporation, through its subsidiaries, operates as a saving, planning, and paying for college company in the United States. The company originates and services private education loans to students or their families. It also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high yield savings accounts; omnibus accounts; and a consumer savings network that provides financial rewards on everyday purchases to help families save for college.
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