SLM Corporation (SLM) : Traders are bullish on SLM Corporation (SLM) as it has outperformed the S&P 500 by a wide margin of 11.3% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.63%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.56% in the last 1 week, and is up 15.04% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 5.19% and the 50-Day Moving Average is 8.61%. SLM Corporation is up 6.2% in the last 3-month period. Year-to-Date the stock performance stands at 10.28%.
SLM Corporation (NASDAQ:SLM): stock turned positive on Friday. Though the stock opened at $7.13, the bulls momentum made the stock top out at $7.25 level for the day. The stock recorded a low of $7.1 and closed the trading day at $7.19, in the green by 0.84%. The total traded volume for the day was 2,800,142. The stock had closed at $7.13 in the previous days trading.
Also, Citigroup initiates coverage on SLM Corporation (NASDAQ:SLM) The current rating of the shares is Buy. Equity Analysts at the Firm announces the price target to $8.5 per share. The rating by the firm was issued on July 14, 2016.
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 Companys 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 Companys 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.