The Vanguard Group, Inc. has recently announced that it has increased stake in SLM Corp. (NASDAQ:SLM) by 0.33%. After grabbing 31.62 million shares, the institutional investor is now in possession of 0.1 million shares of the Financial Company. The new investment brought the stake of investor firm to 13.97% having worth around $411.03 million. Moreover, Hotchkis & Wiley Capital Manageme increased its share by 0.57 million to have a control over 6.93 million shares.
SLM Corp. (SLM) concluded trading on 12/13/23 at a closing price of $17.86, with 8.4 million shares of worth about $150.04 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 6.44% during that period and on Wednesday the price saw a gain of about 5.93%. Currently the company’s common shares owned by public are about 240.68M shares, out of which, 222.95M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 12 analysts are covering the SLM stock and their offered price forecasts bring an average price target of $18.67. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $21.00 and could fall to a lowest price of $14.00. The stock’s current price level is 3.46% above of average price target set by the analysts, while a rise to estimated low would result in loss of -27.57% for the stock. However, touching the estimated high of $21.00 would mean a gain of 14.95% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 65 times over the past 12 months. They bought 1,165,450 shares in 34 of the transactions. In 31 selling transactions, insiders dumped 458,225 shares.
Vanguard Total Stock Market ETF, iShares Core S&P Mid Cap ETF, and MFS Mid Cap Value Fund are the top 3 mutual funds which are holding stakes in SLM Corp. Vanguard Total Stock Market ETF is currently holding 7.21 million shares of worth totaling $93.67 million. The company recently came buying 14429.0 shares which brought its stake up to 3.19% of the company’s outstanding shares. MFS Mid Cap Value Fund, after buying 6.44 million shares, have now control over 2.85% of the stake in the company. It holds 0.0 shares of worth $83.71 million.
SLM Corp. (NASDAQ: SLM) started trading at $17.36, above $0.5 from concluding price of the previous day. However, the stock later moved at a day high price of 17.95, or with a gain of 5.93%. Stock saw a price change of 12.40% in past 5 days and over the past one month there was a price change of 20.03%. Year-to-date (YTD), SLM shares are showing a performance of 7.59% which increased to 5.99% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $10.81 but also hit the highest price of $17.91 during that period. The average intraday trading volume for SLM Corp. shares is 2.10 million. The stock is currently trading 17.33% above its 20-day simple moving average (SMA20), while that difference is up 25.21% for SMA50 and it goes to 22.17% higher than SMA200.
The Vanguard Group, Inc. acquired 31.62 million shares of SLM Corp. having value of about $411.03 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.1 million shares in the company valued at close to $1840187.24, or have control over 0.33% stake in the company. SLM Corp. (NASDAQ: SLM) currently have 240.68M outstanding shares and institutions hold larger chunk of about 97.55% of that. Holding of mutual funds in the company is about 45.03% while other institutional holders and individual stake holders have control over 54.08% and 10.71% of the stake respectively.
The stock has a current market capitalization of $4.04B and its 3Y-monthly beta is at 1.21. PE ratio of stock for trailing 12 months is 13.26, while it has posted earnings per share of $1.35 in the same period. Its PEG reads 0.45 while making debt-to-equity ratio of 3.07. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SLM, volatility over the week remained 3.31% while standing at 2.93% over the month.
Analysts are in expectations that SLM Corp. (SLM) stock would likely to be making an EPS of $0.86 in the current quarter, while forecast for next quarter EPS is $0.53 and it is $2.6 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.46 which is $0.97 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.33 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 46.05% while it is estimated to increase by 5.32% in next year. EPS is likely to grow at an annualized rate of 29.58% for next 5-years, compared to annual growth of 23.19% made by the stock over the past 5-years.
Analysts at 12 brokerage firms have issued recommendations for the SLM Corp. (SLM)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.42. Out of those 12 Wall Street analysts, 9 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wells Fargo on December 08, 2023 offering an Overweight rating for the stock and assigned a target price range of between $14 and $20 to it.
