SLM (NASDAQ:SLM) Announces Quarterly Earnings Results

SLM (NASDAQ:SLMGet Rating) posted its quarterly earnings data on Wednesday. The credit services provider reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.35), MarketWatch Earnings reports. The firm had revenue of $375.03 million for the quarter, compared to the consensus estimate of $375.59 million. SLM had a net margin of 31.67% and a return on equity of 33.71%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.77 earnings per share. SLM updated its FY22 guidance to $2.80-3.00 EPS.

Shares of NASDAQ SLM opened at $16.73 on Friday. SLM has a twelve month low of $16.07 and a twelve month high of $21.40. The firm has a market cap of $4.67 billion, a P/E ratio of 7.71 and a beta of 1.23. The company has a 50 day moving average of $17.81 and a 200 day moving average of $18.48. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 3.12.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Friday, June 3rd will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, June 2nd. This represents a $0.44 dividend on an annualized basis and a yield of 2.63%. SLM’s payout ratio is currently 20.28%.

SLM declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 26th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the credit services provider to repurchase up to 24.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

In other SLM news, CFO Steven Mcgarry sold 15,016 shares of the business’s stock in a transaction on Monday, February 28th. The shares were sold at an average price of $19.75, for a total transaction of $296,566.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jonathan Boyles sold 6,140 shares of the business’s stock in a transaction on Friday, March 4th. The shares were sold at an average price of $17.43, for a total transaction of $107,020.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,990 shares of company stock valued at $857,754. 0.51% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. Morgan Stanley grew its position in shares of SLM by 5.8% during the 2nd quarter. Morgan Stanley now owns 1,796,576 shares of the credit services provider’s stock valued at $37,619,000 after acquiring an additional 97,743 shares during the period. Deutsche Bank AG grew its position in shares of SLM by 17.6% during the 4th quarter. Deutsche Bank AG now owns 1,288,887 shares of the credit services provider’s stock valued at $25,352,000 after acquiring an additional 192,640 shares during the period. Sei Investments Co. grew its position in shares of SLM by 95.6% during the 4th quarter. Sei Investments Co. now owns 574,860 shares of the credit services provider’s stock valued at $11,323,000 after acquiring an additional 280,927 shares during the period. Goldman Sachs Group Inc. grew its position in shares of SLM by 11.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 451,507 shares of the credit services provider’s stock valued at $8,881,000 after acquiring an additional 48,002 shares during the period. Finally, State of Tennessee Treasury Department grew its position in shares of SLM by 4.9% during the 4th quarter. State of Tennessee Treasury Department now owns 303,503 shares of the credit services provider’s stock valued at $5,970,000 after acquiring an additional 14,291 shares during the period. 96.46% of the stock is owned by hedge funds and other institutional investors.

Several analysts have weighed in on the company. StockNews.com started coverage on SLM in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Stephens lowered shares of SLM from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $24.00 to $19.00 in a report on Monday, April 18th. Wedbush reiterated an “outperform” rating on shares of SLM in a report on Monday, January 31st. Finally, Barclays lifted their target price on shares of SLM from $25.00 to $27.00 in a report on Monday, January 10th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $23.25.

SLM Company Profile (Get Rating)

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 also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high-yield savings accounts; and omnibus accounts, as well as credit card loans.

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Earnings History for SLM (NASDAQ:SLM)

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