Raymond James & Associates Has $4.20 Million Stock Position in SLM Corp (NASDAQ:SLM)

Raymond James & Associates grew its position in shares of SLM Corp (NASDAQ:SLM) by 9.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 424,249 shares of the credit services provider’s stock after buying an additional 36,840 shares during the period. Raymond James & Associates owned 0.10% of SLM worth $4,204,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SLM. Stevens Capital Management LP increased its stake in shares of SLM by 138.6% during the first quarter. Stevens Capital Management LP now owns 232,677 shares of the credit services provider’s stock worth $2,306,000 after acquiring an additional 135,166 shares during the period. 13D Management LLC raised its stake in SLM by 4.2% in the 1st quarter. 13D Management LLC now owns 1,272,835 shares of the credit services provider’s stock worth $12,843,000 after acquiring an additional 51,751 shares during the last quarter. Texas Permanent School Fund raised its stake in SLM by 4.0% in the 1st quarter. Texas Permanent School Fund now owns 296,582 shares of the credit services provider’s stock worth $2,939,000 after acquiring an additional 11,491 shares during the last quarter. Pearl River Capital LLC raised its stake in SLM by 137.0% in the 1st quarter. Pearl River Capital LLC now owns 13,746 shares of the credit services provider’s stock worth $136,000 after acquiring an additional 7,947 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in SLM by 76.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 880,000 shares of the credit services provider’s stock worth $8,721,000 after acquiring an additional 380,000 shares during the last quarter.

A number of research firms have weighed in on SLM. Oppenheimer set a $14.00 price objective on SLM and gave the company a “buy” rating in a research note on Sunday, April 21st. Wedbush set a $13.00 price target on shares of SLM and gave the stock a “buy” rating in a research note on Monday, April 22nd. ValuEngine downgraded shares of SLM from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. BidaskClub downgraded shares of SLM from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 15th. Finally, Zacks Investment Research downgraded shares of SLM from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $13.00.

SLM stock remained flat at $$9.14 during trading hours on Wednesday. 1,949,170 shares of the company’s stock traded hands, compared to its average volume of 3,233,479. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.69. The stock has a market cap of $3.95 billion, a PE ratio of 8.54, a P/E/G ratio of 0.40 and a beta of 1.44. SLM Corp has a 12 month low of $7.95 and a 12 month high of $12.16. The business has a 50 day simple moving average of $9.78.

SLM (NASDAQ:SLM) last posted its earnings results on Wednesday, April 17th. The credit services provider reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.04. SLM had a net margin of 25.77% and a return on equity of 20.28%. The company had revenue of $402.28 million during the quarter, compared to the consensus estimate of $384.70 million. During the same period in the previous year, the firm posted $0.28 earnings per share. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, research analysts predict that SLM Corp will post 1.26 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, September 6th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Thursday, September 5th. SLM’s payout ratio is 11.21%.

SLM 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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Institutional Ownership by Quarter for SLM (NASDAQ:SLM)

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