Amalgamated Bank Has $2.79 Million Holdings in SLM Co. (NASDAQ:SLM)

Amalgamated Bank lessened its holdings in SLM Co. (NASDAQ:SLM) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 101,087 shares of the credit services provider’s stock after selling 2,615 shares during the quarter. Amalgamated Bank’s holdings in SLM were worth $2,788,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in SLM by 7.5% in the third quarter. Geode Capital Management LLC now owns 4,762,328 shares of the credit services provider’s stock valued at $108,936,000 after acquiring an additional 331,490 shares during the last quarter. Perpetual Ltd acquired a new position in shares of SLM in the 4th quarter valued at $6,488,000. Allspring Global Investments Holdings LLC boosted its position in shares of SLM by 314.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 212,531 shares of the credit services provider’s stock worth $5,813,000 after purchasing an additional 161,283 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of SLM during the third quarter worth $3,250,000. Finally, Harbor Capital Advisors Inc. increased its holdings in SLM by 124.8% in the third quarter. Harbor Capital Advisors Inc. now owns 222,264 shares of the credit services provider’s stock valued at $5,083,000 after purchasing an additional 123,398 shares during the last quarter. Institutional investors and hedge funds own 98.94% of the company’s stock.

Analysts Set New Price Targets

SLM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their target price on SLM from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Compass Point boosted their price objective on shares of SLM from $31.00 to $34.00 and gave the company a “buy” rating in a report on Friday, January 24th. Wells Fargo & Company upped their target price on shares of SLM from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Morgan Stanley lifted their price target on shares of SLM from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Finally, Barclays upped their price objective on shares of SLM from $34.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.91.

Insider Buying and Selling

In related news, Director Robert S. Strong sold 4,500 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $27.25, for a total transaction of $122,625.00. Following the sale, the director now owns 83,130 shares in the company, valued at approximately $2,265,292.50. This represents a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

SLM Price Performance

Shares of NASDAQ SLM opened at $30.19 on Friday. The company has a fifty day moving average price of $28.95 and a 200 day moving average price of $25.30. The firm has a market cap of $6.35 billion, a PE ratio of 11.39, a PEG ratio of 0.86 and a beta of 1.22. The company has a current ratio of 1.32, a quick ratio of 1.27 and a debt-to-equity ratio of 3.37. SLM Co. has a 1-year low of $19.39 and a 1-year high of $32.65.

SLM (NASDAQ:SLM) last posted its quarterly earnings data on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.06). SLM had a return on equity of 31.66% and a net margin of 20.73%. Research analysts predict that SLM Co. will post 3.07 earnings per share for the current fiscal year.

SLM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Wednesday, March 5th. SLM’s dividend payout ratio is presently 19.62%.

SLM Company Profile

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 is also involved in the provision of retail deposit accounts, including certificates of deposit, money market accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.