SLM Corporation [NASDAQ: SLM] stock went on a downward path that fall over -1.04% on Wednesday, amounting to a one-week price decrease of less than -11.14%. The company report on March 3, 2023 that Sallie Mae Chief Financial Officer Steve McGarry Enters into Retention Agreement with the Company.
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Remains as CFO Through Early 2024 to Facilitate Successful Transition Upon His Retirement.
Sallie Mae (Nasdaq: SLM), formally SLM Corporation, announced today that Steven J. McGarry, executive vice president and chief financial officer, has entered into a retention agreement with the company. He will remain an employee of Sallie Mae and continue to serve as CFO through February 2024 when he plans to retire. During this time, McGarry will assist with the selection of the next CFO and will facilitate the orderly transition of the role to his successor.
Over the last 12 months, SLM stock dropped by -28.97%. The one-year SLM Corporation stock forecast points to a potential upside of 30.37. The average equity rating for SLM stock is currently 2.50, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $3.17 billion, with 244.46 million shares outstanding and 238.68 million shares in the current float. Compared to the average trading volume of 2.12M shares, SLM stock reached a trading volume of 3856485 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on SLM Corporation [SLM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SLM shares is $17.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SLM stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wells Fargo have made an estimate for SLM Corporation shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on February 03, 2023. While these analysts kept the previous recommendation, Compass Point dropped their target price from $20 to $18. The new note on the price target was released on November 11, 2022, representing the official price target for SLM Corporation stock. Previously, the target price had yet another drop from $18 to $17, while Citigroup kept a Neutral rating on SLM stock.
The Average True Range (ATR) for SLM Corporation is set at 0.55, with the Price to Sales ratio for SLM stock in the period of the last 12 months amounting to 1.56. The Price to Book ratio for the last quarter was 2.05, with the Price to Cash per share for the same quarter was set at 18.59.
SLM Stock Performance Analysis:
SLM Corporation [SLM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.14. With this latest performance, SLM shares dropped by -18.63% in over the last four-week period, additionally sinking by -17.87% over the last 6 months – not to mention a drop of -28.97% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SLM stock in for the last two-week period is set at 23.96, with the RSI for the last a single of trading hit 19.43, and the three-weeks RSI is set at 28.36 for SLM Corporation [SLM]. The present Moving Average for the last 50 days of trading for this stock 15.44, while it was recorded at 12.72 for the last single week of trading, and 16.00 for the last 200 days.
Insight into SLM Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and SLM Corporation [SLM] shares currently have an operating margin of +34.11 and a Gross Margin at +83.37. SLM Corporation’s Net Margin is presently recorded at +19.79.
Return on Equity for this stock inclined to 24.20, with Return on Assets sitting at 1.62.
SLM Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SLM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for SLM Corporation go to 28.42%.
SLM Corporation [SLM] Insider Position Details
There are presently around $2,913 million, or 99.35% of SLM stock, in the hands of institutional investors. The top three institutional holders of SLM stocks are: VANGUARD GROUP INC with ownership of 31,617,580, which is approximately 3.489% of the company’s market cap and around 0.20% of the total institutional ownership; IMPACTIVE CAPITAL LP, holding 23,544,180 shares of the stock with an approximate value of $291.01 million in SLM stocks shares; and BLACKROCK INC., currently with $272.57 million in SLM stock with ownership of nearly 3.067% of the company’s market capitalization.
Positions in SLM Corporation stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 143 institutional holders increased their position in SLM Corporation [NASDAQ:SLM] by around 7,663,190 shares. Additionally, 151 investors decreased positions by around 18,472,222 shares, while 51 investors held positions by with 209,545,854 shares. The mentioned changes placed institutional holdings at 235,681,266 shares, according to the latest SEC report filing. SLM stock had 39 new institutional investments in for a total of 1,017,763 shares, while 37 institutional investors sold positions of 1,707,781 shares during the same period.