TD Cowen analyst Moshe Orenbuch has maintained their bullish stance on SLM stock, giving a Buy rating today.
Moshe Orenbuch has given his Buy rating due to a combination of factors observed in SLM’s recent performance data. The company experienced a decrease in delinquencies, although slightly worse than the typical seasonal performance, indicating a potential stabilization in their loan portfolio. Additionally, the net charge-offs (NCOs) on total loans improved, showing a decline both month-over-month and year-over-year, which suggests better management of loan defaults.
Furthermore, the trust balances saw a slight reduction, which might have contributed to a minor increase in delinquencies compared to the total portfolio. However, the overall portfolio is performing better than the trust, as noted by management. The percentage of loans in modification increased slightly, but the overall performance metrics, such as the decrease in delinquencies and NCOs, provide a positive outlook for SLM, justifying the Buy rating.
In another report released today, Barclays also maintained a Buy rating on the stock with a $34.00 price target.
Based on the recent corporate insider activity of 65 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.