SLM (NASDAQ:SLM) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

SLM (NASDAQ:SLM) announced its quarterly earnings results on Wednesday, April 17th. The credit services provider reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.04, RTT News reports. SLM had a return on equity of 20.28% and a net margin of 25.77%. The firm had revenue of $402.28 million during the quarter, compared to analyst estimates of $384.70 million. During the same quarter in the previous year, the business earned $0.28 EPS. SLM’s revenue for the quarter was up 20.9% compared to the same quarter last year. SLM updated its FY19 guidance to $1.23-1.26 EPS.

Shares of SLM stock traded up $0.09 on Friday, hitting $10.32. 2,605,300 shares of the company were exchanged, compared to its average volume of 3,340,263. The stock has a market cap of $4.46 billion, a P/E ratio of 9.64, a P/E/G ratio of 0.42 and a beta of 1.47. SLM has a 1-year low of $7.95 and a 1-year high of $12.16. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.38 and a quick ratio of 1.38.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, June 6th. SLM’s dividend payout ratio is currently 11.21%.

Several equities research analysts have commented on the company. ValuEngine upgraded SLM from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research upgraded SLM from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Tuesday, January 15th. BidaskClub lowered SLM from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 26th. TheStreet upgraded SLM from a “c+” rating to a “b-” rating in a research note on Monday, January 28th. Finally, Wedbush reiterated an “outperform” rating on shares of SLM in a research note on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $13.00.

In other news, EVP Paul F. Thome sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $11.10, for a total transaction of $277,500.00. Following the transaction, the executive vice president now directly owns 208,049 shares in the company, valued at approximately $2,309,343.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Jonathan Boyles sold 68,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $11.20, for a total value of $761,600.00. Following the transaction, the senior vice president now owns 67,679 shares in the company, valued at $758,004.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,805 shares of company stock worth $1,047,625. Insiders own 0.36% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLM. Norges Bank acquired a new position in SLM in the fourth quarter valued at approximately $22,405,000. Bayview Asset Management LLC acquired a new position in SLM in the fourth quarter valued at approximately $20,475,000. CI Investments Inc. lifted its holdings in SLM by 33.8% in the fourth quarter. CI Investments Inc. now owns 9,058,926 shares of the credit services provider’s stock valued at $75,280,000 after acquiring an additional 2,289,626 shares during the last quarter. BlackRock Inc. lifted its holdings in SLM by 4.4% in the fourth quarter. BlackRock Inc. now owns 43,240,757 shares of the credit services provider’s stock valued at $359,332,000 after acquiring an additional 1,823,633 shares during the last quarter. Finally, Portolan Capital Management LLC lifted its holdings in SLM by 80.3% in the fourth quarter. Portolan Capital Management LLC now owns 3,875,937 shares of the credit services provider’s stock valued at $32,209,000 after acquiring an additional 1,726,393 shares during the last quarter.

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About SLM

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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Earnings History for SLM (NASDAQ:SLM)

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