Fintel reports that on December 8, 2023, Wells Fargo upgraded their outlook for SLM (NASDAQ:SLM) from Equal-Weight to Overweight .
Analyst Price Forecast Suggests 6.38% Upside
As of November 27, 2023, the average one-year price target for SLM is 17.30. The forecasts range from a low of 14.14 to a high of $21.00. The average price target represents an increase of 6.38% from its latest reported closing price of 16.26.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for SLM is 1,468MM, an increase of 35.93%. The projected annual non-GAAP EPS is 2.64.
SLM Declares $0.11 Dividend
On October 24, 2023 the company declared a regular quarterly dividend of $0.11 per share ($0.44 annualized). Shareholders of record as of December 4, 2023 will receive the payment on December 15, 2023. Previously, the company paid $0.11 per share.
At the current share price of $16.26 / share, the stock's dividend yield is 2.71%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.86%, the lowest has been 0.59%, and the highest has been 5.42%. The standard deviation of yields is 1.01 (n=236).
The current dividend yield is 0.84 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.30. 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.
What is the Fund Sentiment?
There are 787 funds or institutions reporting positions in SLM. This is an increase of 31 owner(s) or 4.10% in the last quarter. Average portfolio weight of all funds dedicated to SLM is 0.20%, a decrease of 12.13%. Total shares owned by institutions decreased in the last three months by 0.45% to 251,490K shares. 
The put/call ratio of SLM is 0.58, indicating a bullish outlook.
What are Other Shareholders Doing?
Impactive Capital holds 19,697K shares representing 8.71% ownership of the company. In it's prior filing, the firm reported owning 20,000K shares, representing a decrease of 1.54%. The firm decreased its portfolio allocation in SLM by 13.39% over the last quarter.
Massachusetts Financial Services holds 13,573K shares representing 6.00% ownership of the company. In it's prior filing, the firm reported owning 15,876K shares, representing a decrease of 16.97%. The firm increased its portfolio allocation in SLM by 394.32% over the last quarter.
Ubs Asset Management Americas holds 12,275K shares representing 5.42% ownership of the company. In it's prior filing, the firm reported owning 14,206K shares, representing a decrease of 15.74%. The firm decreased its portfolio allocation in SLM by 12.14% over the last quarter.
Boston Partners holds 9,817K shares representing 4.34% ownership of the company. In it's prior filing, the firm reported owning 10,011K shares, representing a decrease of 1.98%. The firm decreased its portfolio allocation in SLM by 15.84% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,190K shares representing 3.18% ownership of the company. In it's prior filing, the firm reported owning 7,526K shares, representing a decrease of 4.66%. The firm decreased its portfolio allocation in SLM by 17.23% 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.
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This story originally appeared on Fintel.
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