Is SLM Corporation - Floating Rate (NASDAQ:SLMBP) a buy in 2026?
Hold. SLM Corporation - Floating Rate is a wait-and-watch at today's price, not a fresh buy.
A preferred share masquerading as a growth story. Clip the floating coupon if you own it, but don't chase at par.
Where SLMBP is headed
First, let's clear up what SLMBP actually is, because the Compass score of 90 is rating Sallie Mae's underlying business, not this specific instrument. SLMBP is the Series B floating-rate preferred stock issued by SLM Corporation (NASDAQ:SLM), with a $100 par value and a coupon of 3-month LIBOR (now SOFR plus a credit spread adjustment) plus 170 basis points, with a 4% floor. At $74.63, it trades at roughly a 25% discount to par, which tells you everything about how the market is pricing perpetual preferreds in a higher-for-longer rate world.
Read the full Compass Direction on SLMBP
The complete destination call, the overlooked angle, milestones, and bull, base, and bear price scenarios (around $74.97).
See the full SLMBP analysisGet calls like this, free
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Frequently asked questions
Is SLM Corporation - Floating Rate (NASDAQ:SLMBP) a buy in 2026?
Hold. SLM Corporation - Floating Rate is a wait-and-watch at today's price, not a fresh buy. A preferred share masquerading as a growth story. Clip the floating coupon if you own it, but don't chase at par.
What is SLMBP's Compass Score?
SLM Corporation - Floating Rate scores 90/100 on Alexandria's Compass, placing it in the "True North" tier. Scores blend eight factors and update weekly.
What is the price target for SLMBP?
Alexandria's full Compass Direction includes bull, base, and bear price scenarios with the valuation math behind each. Read the full breakdown on the SLMBP page.
Compass verdicts are AI-generated, forward-looking editorial research from publicly available data, not investment advice or a recommendation regarding any security. Scores and verdicts update as the data changes.