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July 23, 2014
17:23 EDTSLMSallie Mae reports Q2 adjusted EPS 10c, consensus 10c
Provision for loan losses was $1M. Loan originations of $373M were up 3% for the quarter. Deposits at Sallie Mae Bank totaled $9.5B at June 30, with the increase primarily driven by an increase in money market accounts. Operating expenses were $75M in Q2, including $14M of reorganization expenses. The company reported a Tier 1 leverage ratio of 11.6%, and a Tier 1 risk-based capital ratio of 15.2%.
News For SLM From The Last 14 Days
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October 5, 2015
09:48 EDTSLMSallie Mae Strong Sell rating removed at Off Wall Street Research
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September 29, 2015
19:46 EDTSLMNavient falls after government report criticizes student loan servicers
Shares of student loan stock Navient (NAVI) fell over 4% on Tuesday after the Consumer Financial Protection Bureau, or CFPB, released a report critical of student loan servicers, titled 'Student loan servicing: Analysis of public input and recommendations for reform.' WHAT'S NEW: The CFPB's 152-page report cited issues such as conflicting, incomplete, or inaccurate loan statements; missing or ignoring specific payoff instructions which would apply payments to higher interest loans; and servicing transfers resulting in processing problems, surprise fees, damaged credit, lost repayment benefits and loan records, among other issues. WHAT'S NOTABLE: CFPB Director Richard Cordray said in a statement, "With one out of four student loan borrowers struggling to repay their loans or already in default, cleaning up the servicing market is critical. Today's report underscores the need for market-wide student loan servicing reforms to halt harmful practices and boost assistance for distressed borrowers." PRICE ACTION: Shares of Navient dropped 53c, or 4.36%, to $11.63 in Tuesday's trading session. PEERS: Other student loan servicers include First Marblehead (FMD), which fell 3.4%, SLM Corporation (SLM), which declined 0.86%, and Nelnet (NNI), which was up fractionally.

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