SLM Corporation Reports $447 Million Profit (SLM)

Reston, Virginia-based SLM Corporation SLM late on Wednesday after the market closed released its financial results. SLM Corporation, commonly known as Sallie Mae, reported that its 4th quarter net income rose to $447 million, or 84 cents per share, up from $309 million, or 52 cents per share, a year earlier. The company reported core earnings of 75 cents per share. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 70 cents per share. Sallie Mae vice chairman and CEO Albert L. Lord said, “We entered 2011 financially strong, and ready to serve our customers and bring value to our shareholders.” SLM Corporation (SLM) ended the Wednesday trading session at $13.82 per share. Analysts covering the company's stock have a consensus price target of $16.14 per share. SLM Corporation is the nation's only financial services company specializing in education, offering services to a range of institutional clients, including colleges and universities, student loan guarantors and state and federal agencies. Read more from Benzinga's Company news.