Citigroup Initiates Coverage on SLM Corp to Buy

Citigroup Initiates Coverage on SLM Corp(NASDAQ:SLM). The shares have been rated Buy. The rating by Citigroup was issued on Jul 14, 2016.

SLM Corp (SLM) made into the market gainers list on Mondays trading session with the shares advancing 0.99% or 0.07 points. Due to strong positive momentum, the stock ended at $7.17, which is also near the day’s high of $7.17. The stock began the session at $7.1 and the volume stood at 23,72,988 shares. The 52-week high of the shares is $10 and the 52 week low is $5.09. The company has a current market capitalization of $3,068 M and it has 42,79,15,510 shares in outstanding.

SLM Corp(SLM) last announced its earnings results on Apr 20, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $209.86M. Analysts had an estimated revenue of $204.86M. Earnings per share were $0.14. Analysts had estimated an EPS of $0.11.

Several Insider Transactions has been reported to the SEC. On Apr 27, 2016, Robert S. Strong (director) purchased 5,000 shares at $6.50 per share price.Also, 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.

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