Stock Monitor: American Express Post Earnings Reporting
LONDON, UK / ACCESSWIRE / January 22, 2018 / Active-Investors.com has just released a free earnings report on SLM Corp. (NASDAQ: SLM). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SLM. The Company posted its financial results for the fourth quarter fiscal 2017 (Q4 FY17) and full year 2017 (FY17) on January 17, 2018. SLM's reported net interest income of $309.19 million, up 26% y-o-y. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, SLM Corp. most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
During Q4 FY17, SLM's total interest income grew to $399.50 million from $300.01 million in Q4 FY16. Total interest expense was $90.31 million in the reported quarter compared to $54.58 million in Q4 FY16. The Company's net interest income after provisions for credit losses also increased to $253.87 million in Q4 FY17 from $202.21 million in the year ago same quarter. Due to the effect of the lower tax rate, the Company reported non-interest loss in Q4 FY17 of $22.01 million versus non-interest income of $9.35 million in Q4 FY16.
The Newark, Delaware-based Company reported net income attributable to SLM of $43.87 million, or $0.10 per diluted common share, in Q4 FY17 versus $64.74 million, or $0.15 per diluted common share, in Q4 FY16. Meanwhile, Wall Street had also expected net income of $0.10 per diluted share.
In full year FY17, SLM's net interest income after provisions for credit losses increased to $943.46 million from $731.93 million in FY16. The Company's net income attributable to SLM also rose during FY17 to $273.22 million, or $0.62 per diluted share, from $229.12 million, or $0.53 per diluted share, in the previous year.
During the reported quarter, the Company's return on assets was 0.9% versus 1.5% in the prior year's comparable quarter. SLM's non-GAAP operating efficiency ratio by new method was 41.2% in Q4 FY17 compared to 37.9% in Q4 FY16. Average yield on the private education loan portfolio was 8.61% in Q4 FY17, up 53 basis points from 8.08% in Q4 FY16. Additionally, net interest margin for the reported quarter improved 45 basis points to 6.00% from 5.55% in Q4 FY16.
As on December 31, 2017, the Company's Common Equity Tier 1 ratio stood at 12.0% compared to 12.6% as at end of last year's fourth quarter. During Q4 FY17, Total Capital to Risk-Weighted Assets ratio was 13.3% versus 13.8% as on December 31, 2016. The Company's Tier 1 Capital assets to average ratio came in at 11.2% compared to 11.1% in the year ago same quarter.
Balance Sheet Analyzed
In Q4 FY17, total interest-bearing liabilities surged to $18.54 billion from $15.47 billion in the previous year's corresponding quarter. Net Private education loan portfolio grew 22% to $17.24 billion as on December 31, 2017, from $14.11 billion as on December 31, 2016. Furthermore, SLM's net total loan portfolio surged to $18.57 billion during the quarter ended December 31, 2017, from $15.14 billion in Q4 FY16.
Stock Performance Snapshot
January 19, 2018 - At Friday's closing bell, SLM's stock slightly dropped 0.62%, ending the trading session at $11.16.
Volume traded for the day: 8.54 million shares, which was above the 3-month average volume of 3.48 million shares.
Stock performance in the last six-month period – up 1.64%
After last Friday's close, SLM's market cap was at $4.82 billion.
Price to Earnings (P/E) ratio was at 16.61.
The stock is part of the Financial sector, categorized under the Credit Services industry. This sector was up 0.6% at the end of the session.
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