Last $8.99 USD
Change Today +0.13 / 1.47%
Volume 5.0M
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As of 5:20 PM 09/2/14 All times are local (Market data is delayed by at least 15 minutes).

slm corp (SLM) Snapshot

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01/16/14 - $9.77
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02/11/14 - $7.53
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slm corp (SLM) Details

SLM Corporation, also known as Sallie Mae, together with its subsidiaries, operates as a financial services company specializing in education in the United States. It offers education loan options for undergraduates, graduate students, and professional students, as well as families with children in private K–12 schools; and banking products, such as money market accounts, high yield savings accounts, and certificates of deposits. The company also provides auto, tuition, life, health, travel, and renters insurance coverage for students, recent graduates, and young adults. In addition, its products and services include Upromise rewards, scholarship search and planning tools, private education loans, and online banking services. SLM Corporation is based in Newark, Delaware.

slm corp (SLM) Top Compensated Officers

Executive Vice President, General Counsel and...
Total Annual Compensation: $525.0K
Compensation as of Fiscal Year 2013.

slm corp (SLM) Key Developments

SLM Corporation Announces Amendments to Articles of Incorporation or Bylaws

On July 29, 2014, the Board of Directors of SLM Corporation, effective immediately, adopted and approved Amended and Restated Bylaws. The Amended and Restated Bylaws of the Company reflect amendments to Article II, Section 5, and Article III, Section 2, to remove provisions relating to cumulative voting in the election of directors.

Sallie Mae Declares Preferred Stock Series B Dividend for Third Quarter of 2014, Payable on September 15, 2014

Sallie Mae announced third quarter of 2014, dividend on its Preferred Stock Series B of $0.4883919 per share. The dividend will be paid on September 15, 2014, to stockholders of record at the close of business on September 5, 2014.

Sallie Mae Announces Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Full Year 2014

Sallie Mae announced consolidated earnings results for the second quarter and six months ended June 30, 2014. For the second-quarter 2014, the company's GAAP net income was $44 million or $0.09 diluted earnings per share. GAAP net income was $76 million or $0.17 diluted earnings per share in the year-ago quarter, which included gains on sales of loans that were $71 million higher, and without this contribution, second-quarter 2013 GAAP net income was $32 million. Core earnings for the quarter were $48 million or $0.10 diluted earnings per share, compared with $77 million or $0.17 diluted earnings per share in the year-ago quarter. Net interest income increased 35% from the year-ago quarter to $144 million, as a result of a $1.8 billion increase in average private education loans outstanding. For the six months period, the company reported GAAP net income of $91,576,000 or $0.20 per diluted share against $149,353,000 or $0.33 per diluted share a year ago. Core Earnings were $96,651,000 or $0.20 per diluted share against $149,396,000 or $0.33 per diluted share a year ago. Full-year 2014, the company’s diluted earnings per share expectations for 2014, which includes all of the onetime restructuring charges, is expected to be in a range of $0.41 to $0.43. Operating expenses for the full year will be approximately $280 million plus an additional $32 million in onetime restructuring and reorganization expenses. The company is confident that it will execute loan sales totaling $1.2 billion in the second half of the year. The company expects the premium to the sales to be at the high end of the 6% to 8% range that the company has discussed over the last several months. Additionally, the tax rate is impacted by adjustments related to pre-spin uncertain tax positions. Because the company is indemnified for the vast majority of these positions, the increase to its tax provision is offset by an increase in the company’s fee income. This actually has no impact on it’s per share earnings, and its expectation is that its tax rate for the full year will be 40%.


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