SLM Corp (SLM) is Initiated by Citigroup to Buy, Price Target at $8.50

SLM Corp (SLM) was Initiated by Citigroup to “Buy” and the brokerage firm has set the Price Target at $8.50. Citigroup advised their investors in a research report released on Jul 14, 2016.

On the company’s financial health, SLM Corp reported $0.14 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.11.Analysts expectations of $ 198.13.During the same quarter in the previous year, the company posted $0.10 EPS.

SLM Corp opened for trading at $7 and hit $7.005 on the upside on Wednesday, eventually ending the session at $6.96, with a gain of 0.43% or 0.03 points. The heightened volatility saw the trading volume jump to 24,11,007 shares. Company has a market cap of $2,978 M.

In a different news, on Apr 27, 2016, Robert S. Strong (director) purchased 5,000 shares at $6.50 per share price. According to the SEC, on Feb 3, 2016, Jeffrey Dale (SVP & Chief Risk Officer) purchased 7,800 shares at $6.35 per share price. On Nov 18, 2015, Raymond J. Quinlan (CEO) purchased 15,500 shares at $6.61 per share price, according to the Form-4 filing with the securities and exchange commission.

SLM Corporation is a holding company. The Company is a saving planning and paying for education company. It is engaged in originating and servicing private education loans it makes to students and their families. The Company also operates a consumer savings network that provides financial rewards on everyday purchases to help families save for college. The Company’s private education loans are made primarily to bridge the gap between the cost of higher education and the amount funded through financial aid federal loans or customers’ resources. The Company’s loans are non-federal loans and loans not insured or guaranteed under the federal family education loan program. It provides incentives for customers to include a cosigner on the loan and also encourages customers to make payments while in school.

SLM Corp

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