Analyst Moshe Orenbuch from TD Cowen maintained a Buy rating on SLM (SLM – Research Report) and keeping the price target at $33.00.
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Moshe Orenbuch has given his Buy rating due to a combination of factors, including the performance of SLM’s loan portfolio, which showed improvement in key areas. Notably, the delinquencies for January were better than the expected seasonal trends, with early-stage delinquencies seeing only a modest increase and late-stage delinquencies decreasing slightly. This indicates a more favorable outlook compared to historical seasonal patterns.
Additionally, net charge-offs (NCOs) have seen a significant reduction both month-over-month and year-over-year, suggesting improved credit performance. While there was a slight increase in loans under modification, the overall portfolio is reportedly performing better than the trust data, indicating effective management strategies. These positive indicators provide a strong basis for the Buy recommendation.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SLM in relation to earlier this year.