I bought it a while back, so the drop, while slightly painful, isn't really bad for me. I originally bought it after looking at it's pre-recession chart. It continually climbs and student loans are the one loan you can't discharge. It will start climbing again. It's not like people are no longer going to college and not taking loans.
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You are correct! SLM is a great value buy at this level.
It's $0.60 dividend and a PE of 8 makes it all the more attractive.
Plus, SLM has little to no competition in a business sector that is stable and growing.
Every complete portfolio needs a value play like this one. I am buyer and a holder at this level, and I am going strong for long.
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Sallie Mae Reports Fourth-Quarter and Full-Year 2013 Financial Results
Full-Year Loan Originations Increase 14 Percent from the Prior Year
Full-Year Private Education Loan Charge-off Rates Decline to 2.8 Percent, Lowest since 2007
Asset Sales Contribute to Core Earnings Growth
Thursday, January 16, 2014 4:16 pm EST
NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae (NASDAQ: SLM), formally SLM Corporation, today released fourth-quarter 2013 and full-year 2013 financial results that include annual 14 percent private education loan origination growth to $3.8 billion and lower year-over-year charge-offs.
“As we begin 2014, we remain on track to separate our business into two public companies, each poised for growth and enhanced value for our customers, shareholders and other stakeholders,” said John (Jack) F. Remondi, president and CEO. “In 2013, we demonstrated the value of our FFELP cash flows, continued to return excess capital to our shareholders and ended the year with strong capital and reserve positions. Our consumer lending segment generated strong earnings and solid loan origination growth as more families turned to us to meet their responsible borrowing needs. Portfolio performance continues to improve: a higher percentage of our customers experienced payment success due to our sound underwriting and emphasis on establishing early repayment habits. In 2014, our top priority remains to provide the quality service and innovative tools our customers need to successfully manage their loans and avoid the devastating consequences of default.”
For the fourth-quarter 2013, GAAP net income was $270 million ($0.60 diluted earnings per share), compared with $348 million ($0.74 diluted earnings per share) for the year-ago quarter. For 2013, GAAP net income was $1.4 billion ($3.12 diluted earnings per share), compared with $939 million ($1.90 diluted earnings per share) for 2012.
Core earnings for the quarter were $275 million ($0.61 diluted earnings per share