SLM (SLM) Declares $0.11 Dividend

SLM said on April 25, 2023 that its board of directors declared a regular quarterly dividend of $0.11 per share ($0.44 annualized). Previously, the company paid $0.11 per share.

Shares must be purchased before the ex-div date of June 1, 2023 to qualify for the dividend. Shareholders of record as of June 2, 2023 will receive the payment on June 15, 2023.

At the current share price of $14.66 / share, the stock's dividend yield is 3.00%. Looking back five years and taking a sample every week, the average dividend yield has been 1.99%, the lowest has been 0.59%, and the highest has been 5.42%. The standard deviation of yields is 1.18 (n=237).

The current dividend yield is 0.86 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.23. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 2.67%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 819 funds or institutions reporting positions in SLM. This is a decrease of 13 owner(s) or 1.56% in the last quarter. Average portfolio weight of all funds dedicated to SLM is 0.25%, a decrease of 1.20%. Total shares owned by institutions decreased in the last three months by 7.82% to 269,485K shares. The put/call ratio of SLM is 4.66, indicating a bearish outlook.

Analyst Price Forecast Suggests 19.44% Upside

As of April 24, 2023, the average one-year price target for SLM is 17.51. The forecasts range from a low of 11.11 to a high of $21.00. The average price target represents an increase of 19.44% from its latest reported closing price of 14.66.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for SLM is 1,468MM, an increase of 23.36%. The projected annual non-GAAP EPS is 2.64.

What are Other Shareholders Doing?

Impactive Capital holds 23,544K shares representing 9.76% ownership of the company. In it's prior filing, the firm reported owning 22,593K shares, representing an increase of 4.04%. The firm increased its portfolio allocation in SLM by 8.58% over the last quarter.

Massachusetts Financial Services holds 17,457K shares representing 7.24% ownership of the company. In it's prior filing, the firm reported owning 18,863K shares, representing a decrease of 8.05%. The firm increased its portfolio allocation in SLM by 2.54% over the last quarter.

Ubs Asset Management Americas holds 14,877K shares representing 6.17% ownership of the company. In it's prior filing, the firm reported owning 14,797K shares, representing an increase of 0.54%. The firm increased its portfolio allocation in SLM by 11.49% over the last quarter.

Boston Partners holds 11,998K shares representing 4.97% ownership of the company. In it's prior filing, the firm reported owning 12,050K shares, representing a decrease of 0.44%. The firm increased its portfolio allocation in SLM by 7.98% over the last quarter.

MVCAX - MFS Mid Cap Value Fund A holds 8,321K shares representing 3.45% ownership of the company. In it's prior filing, the firm reported owning 8,372K shares, representing a decrease of 0.61%. The firm decreased its portfolio allocation in SLM by 7.45% over the last quarter.

SLM Background Information
(This description is provided by the company.)

Sallie Mae believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, the company provides financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen.

This story originally appeared on Fintel.