SLM (SLM) Stock

NEWARK, Del.--(BUSINESS WIRE)--To celebrate Veterans Day, The Sallie Mae Fund has announced a $50,000 grant to Folds of Honor, showing its dedication to military members and their families. This funding will be used for scholarships aimed at the children and families of fallen or disabled servicemembers. “Sallie Mae's ongoing support for our scholarship program creates opportunities for higher education for these families, helping them shape better futures.”

NEWARK, Del.--(BUSINESS WIRE)--To honor National Scholarship Month, Sallie Mae has revealed the latest winners of its Bridging the Dream Scholarship. This year, 40 exceptional high school students from around the nation, who have shown excellence in academics and extracurricular activities while also needing financial support, received a $10,000 scholarship from The Sallie Mae Fund, in collaboration with the Thurgood Marshall College Fund. Among this year's winners, 30 are enrolled in Historically Black Colleges and Universities.

NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae (Nasdaq: SLM), previously known as SLM Corporation, has published its financial results for the third quarter of 2024. You can find the full financial details and related documents at www.SallieMae.com/investors, and they will also be accessible on the Securities and Exchange Commission's website at www.sec.gov. Additionally, Sallie Mae has increased its dividend for the fourth quarter of 2024 from $0.11 to $0.13 per share.

NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae® (Nasdaq: SLM), previously known as SLM Corporation, will announce its financial results for the third quarter of 2024 after the market closes on Wednesday, October 23, 2024. A live audio webcast and presentation slides can be found at SallieMae.com/investors, and investors are encouraged to log in at least 15 minutes before the broadcast. The earnings news release will also be posted on the same site, along with a replay option.

NEWARK, Del.--(BUSINESS WIRE)--The Sallie Mae Fund, Inc. has announced a donation of $200,000 to the HBCU Week Foundation, Inc. to help improve access to higher education at Historically Black Colleges and Universities (HBCUs). The Sallie Mae Fund will also be the main sponsor for the HBCU Week College Fair in Wilmington, Del., on September 27, and the national HBCU College Fair in Orlando, Fla., on October 24. These fairs draw thousands of potential HBCU students and help them connect with schools.

SLM's increasing average loan balance is helping to boost net interest income (NII). However, rising costs are a worry in the short term.

While worries about increasing prices and low asset quality may negatively impact the Zacks Consumer Loans industry, the move towards digital operations, anticipated interest rate cuts, strong loan demand, and relaxed lending standards will benefit Ally Financial (ALLY), Mr. Cooper (COOP), and SLM Corp (SLM).

Despite the possibility of sluggishness in price and a fast come off in dividends for SLM's preference share listing SLMBP earlier this year, the fears turned out to be unfounded. The latest Q2 2024 results further support the stock. Loan originations continue to grow and even with a narrowing net interest margin, the EPS has inched up. Further, the EPS guidance has been upgraded, which is favourable for market multiples and slower than expected interest rate decline works well for the dividends.

SLM Corporation (NASDAQ:SLM ) Q2 2024 Earnings Conference Call July 24, 2024 5:30 PM ET Company Participants Melissa Bronaugh - VP & Head of Investor Relations Jon Witter - CEO & Director Pete Graham - Executive VP & CFO Conference Call Participants Moshe Orenbuch - TD Cowen Sanjay Sakhrani - KBW Mark DeVries - Deutsche Bank Terry Ma - Barclays Michael K - Wells Fargo Jeff Adelson - Morgan Stanley Rick Shane - JPMorgan John Hecht - Jefferies Jon Arfstrom - RBC Capital Markets Giuliano Bologna - Compass Point Operator Good day, everyone. And welcome to Sallie Mae Second Quarter 2024 Earnings Conference Call.