Navient shares gain; reaches settlement with US CFPB

Navient

12/09/2024 18:47

** Shares of Navient Corp  NAVI.O  were up more than 6% at
$15.57 in afternoon trading Thurs after the company resolved
legal matters with the U.S. Consumer Financial Protection Bureau
    ** The U.S. regulator said it was banning Navient from
servicing federal student loans, largely barring the company
from a market it once led, and ordered the company to pay $120
million for years of student lending failures
    ** The median 12-mo price target on the stock is $15, per
LSEG 
    ** Including the session move, Navient's stock is down >16%
for the YTD vs a nearly 17% gain in the Nasdaq  .IXIC 

    

 (Reporting by Caroline Valetkevitch)
 ((caroline.valetkevitch@thomsonreuters.com))