Bank of America Begins Coverage on Navient (NASDAQ:NAVI)

Bank of America began coverage on shares of Navient (NASDAQ:NAVIFree Report) in a research note published on Monday morning, Marketbeat reports. The brokerage issued a neutral rating and a $17.00 price objective on the credit services provider’s stock.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Navient from $16.00 to $15.00 and set a neutral rating on the stock in a report on Monday, July 8th. Keefe, Bruyette & Woods raised their price target on Navient from $15.00 to $16.00 and gave the stock a market perform rating in a report on Thursday, July 25th. Finally, Barclays cut their target price on Navient from $11.00 to $10.00 and set an underweight rating on the stock in a research note on Tuesday, July 9th. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $15.56.

Get Our Latest Stock Report on Navient

Navient Stock Up 0.2 %

Shares of NASDAQ:NAVI opened at $15.29 on Monday. The firm has a market cap of $1.71 billion, a PE ratio of 9.80 and a beta of 1.39. The company has a fifty day simple moving average of $15.57 and a 200 day simple moving average of $15.52. The company has a current ratio of 9.99, a quick ratio of 9.99 and a debt-to-equity ratio of 17.30. Navient has a 12-month low of $13.95 and a 12-month high of $19.68.

Navient (NASDAQ:NAVIGet Free Report) last released its earnings results on Wednesday, July 24th. The credit services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.14). Navient had a net margin of 3.41% and a return on equity of 11.06%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $157.27 million. During the same quarter in the previous year, the firm earned $0.70 EPS. On average, equities research analysts anticipate that Navient will post 1.43 EPS for the current fiscal year.

Navient Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend was Friday, September 6th. Navient’s dividend payout ratio (DPR) is 41.03%.

Hedge Funds Weigh In On Navient

A number of institutional investors and hedge funds have recently bought and sold shares of NAVI. Allspring Global Investments Holdings LLC bought a new stake in shares of Navient during the 1st quarter worth about $36,000. IAG Wealth Partners LLC bought a new stake in Navient during the second quarter worth approximately $50,000. Signaturefd LLC lifted its position in Navient by 22.1% in the second quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock worth $70,000 after purchasing an additional 869 shares during the period. Covestor Ltd boosted its stake in Navient by 23.1% during the 1st quarter. Covestor Ltd now owns 6,245 shares of the credit services provider’s stock valued at $109,000 after purchasing an additional 1,173 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Navient during the 2nd quarter valued at $121,000. Institutional investors own 97.14% of the company’s stock.

Navient Company Profile

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Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.

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