-=Sallie Mae (SLM) reported earnings on Wed 23 Jan 2019 (a/h)

Sallie Mae beats by $0.04, beats on revs; guides FY19 EPS above consensus; announces new $200 mln share repurchase program

• Reports Q4 (Dec) core earnings of $0.31 per share, excluding non-recurring items, $0.04 better than the S&P Capital IQ Consensus of $0.27; net interest income rose 23.8% year/year to $382.87 mln vs the $367.4 mln S&P Capital IQ Consensus.
• Co issues upside guidance for FY19, sees core EPS of $1.22-1.26, excluding non-recurring items, vs. $1.21 S&P Capital IQ Consensus.
• Co also announces new $200 mln share repurchase program and initiated a new policy to pay a regular, quarterly common stock dividend. A 2019 first-quarter dividend of $0.03 per share on the company's common stock will be paid on March 15, 2019 to shareholders of record at the close of business on March 5, 2019. This marks the first time the company has paid a common stock dividend since its spin-off of Navient Corporation in 2014.

Earnings this week : Jan 21 - 25, 19 (wk 4)

Earnings confirmed to report this week:

Monday (Jan 21)    

• Market closed for Martin Luther King Jr. Day

Tuesday (Jan 22)

• Morning: ATI FITB GATX HAL HMST JNJ LOGI EDU PETS PLD SWK TRV
• Afternoon: AMTD CNMD COF FMBI HOPE IBKR IBM LRN LTXB NAVI RNST SFNC TBK UCBI WTFC ZION

Wednesday (Jan 23)

• Morning:  ABT APH ASML BKU BPOP CBU CMCSA HZO KMB NTRS PG PGR RES ROL SYF TDY TEL UTX WAT
• Afternoon:  ADTN AZPN BGG BXS CATY CCI CMRE CNS CP CTXS CVBF F FFBC FFIV HXL LRCX  LVS NXGN PTC RJF SLG SLM STL TCBI TER TRMK TXN UMPQ URI VAR XLNX

Thursday (Jan 24)

• Morning:  AAL AEP AIT AVX BANC BMY COLB DLX EWBC FCX GWW HBAN ISCA JBLU LUV MKC MMYT ORI RCI STM TAL TXT UNP VIVO WBS
• Afternoon: ALK ASB AVT CUBI DFS  ETFC FHB FII HTH INTC ISRG NBHC NSC OSIS RMD SBCF SBUX SIVB WAL WDC

Friday (Jan 25)

• Morning: ABBV ABCB APD CL DHI ERIC HRC IBKC LEA MOG.A NEE

=Sallie Mae (SLM) reported earnings on Tue 24 Apr 2018 (b/o)

Sallie Mae beats by $0.03, beats on revs; guides FY18 EPS in-line 

• Reports Q1 (Mar) core earnings of $0.27 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus of $0.24; net interest income rose 24.1% year/year to $332.6 mln vs the $313.1 mln Capital IQ Consensus.
• Co issues in-line guidancefor FY18, sees EPS of $0.99-1.01, excluding non-recurring items, vs. $1.00 Capital IQ Consensus Estimate and vs prior guidance of $0.97-1.01.

Navient (NAVI) : Pennsylvania AG sues on abuse claims

  

Navient (NAVI) crashed on Thursday after the Pennsylvania attorney general sued the company, alleging "widespread abuses" in its student loan origination and servicing segments and deceptive lending practices.

The lawsuit comes after the Consumer Financial Protection Bureau also sued Navient in January, saying the company "cheated many struggling borrowers out of their rights to lower repayments, which caused them to pay much more than they had to for their loans."

Washington and Illinois have also sued the company.

Pennsylvania Attorney General Josh Shapiro filed the lawsuit today in the U.S. District Court for the Middle District of Pennsylvania. Residents of the state had filed more than 1,000 complaints against the company with the CFPB, according to a statement released by Shapiro's office.

The lawsuit, he said, also had affected Pennsylvanians who got a private student loan from Sallie Mae (SLM), of which Navient was once a part.

"Navient's deceptive practices and predatory conduct harmed student borrowers and put their own profits ahead of the interests of millions of families across our country who are struggling to
repay student loans," Shapiro said.

Sallie Mae (SLM) shares fell 3.6%.