SLM Co. (NASDAQ:SLMBP) Sees Large Increase in Short Interest

SLM Co. (NASDAQ:SLMBP) saw a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 15,129 shares, an increase of 58.3% from the February 12th total of 9,559 shares. Based on an average daily trading volume, of 4,047 shares, the days-to-cover ratio is presently 3.7 days. Based on an average daily trading volume, of 4,047 shares, the days-to-cover ratio is presently 3.7 days.

SLM Stock Performance

SLM stock remained flat at $75.00 during midday trading on Friday. 936 shares of the company traded hands, compared to its average volume of 3,921. The stock has a 50-day moving average of $74.53 and a two-hundred day moving average of $74.96. SLM has a one year low of $65.50 and a one year high of $83.15.

SLM Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Thursday, March 5th will be given a $1.4327 dividend. This represents a $5.73 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date is Thursday, March 5th.

Wall Street Analyst Weigh In

SLMBP has been the subject of a number of research reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of SLM in a report on Wednesday, December 10th. UBS Group set a $40.00 price target on shares of SLM in a research note on Friday, December 5th. TD Cowen reissued a “buy” rating on shares of SLM in a research report on Friday, December 5th. Finally, Bank of America restated a “buy” rating on shares of SLM in a research note on Monday, March 9th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

SLM Company Profile

SLM Corporation, doing business as Sallie Mae, is a U.S.-based provider of private student loans, servicing, and banking products. The company specializes in originating and servicing education loans for undergraduate, graduate and professional students, as well as career and technical training programs. In addition to its core student lending business, Sallie Mae offers deposit products, credit cards and digital tools designed to help customers manage personal finances and plan for higher-education expenses.

Sallie Mae’s product suite includes fixed- and variable-rate private student loans, graduate student loans, parent loans and career training loans.