LendingClub Co. (NYSE:LC) Receives $16.00 Consensus Target Price from Analysts

LendingClub Co. (NYSE:LC) has earned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $16.00.

Several analysts recently weighed in on LC shares. Compass Point raised their target price on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods lifted their price objective on shares of LendingClub from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. StockNews.com lowered LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Maxim Group lifted their price target on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $15.00 price objective (up previously from $13.00) on shares of LendingClub in a report on Thursday, October 24th.

Insiders Place Their Bets

In other news, Director John C. Morris sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $14.36, for a total transaction of $35,900.00. Following the completion of the sale, the director now owns 203,348 shares in the company, valued at $2,920,077.28. This represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $15.84, for a total transaction of $269,280.00. Following the completion of the sale, the chief executive officer now owns 1,329,184 shares of the company’s stock, valued at approximately $21,054,274.56. The trade was a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,500 shares of company stock valued at $1,073,100 over the last quarter. Company insiders own 3.31% of the company’s stock.

Institutional Trading of LendingClub

Several hedge funds and other institutional investors have recently made changes to their positions in LC. AlphaMark Advisors LLC purchased a new position in shares of LendingClub in the third quarter valued at $32,000. FMR LLC raised its position in shares of LendingClub by 32.1% in the third quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after buying an additional 1,424 shares during the last quarter. Blue Trust Inc. raised its holdings in LendingClub by 259.8% in the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock valued at $83,000 after acquiring an additional 5,247 shares during the last quarter. nVerses Capital LLC purchased a new position in LendingClub during the second quarter worth about $71,000. Finally, Innealta Capital LLC purchased a new position in shares of LendingClub during the 2nd quarter worth about $72,000. Institutional investors and hedge funds own 74.08% of the company’s stock.

LendingClub Stock Up 1.4 %

Shares of LC stock opened at $16.56 on Thursday. The firm has a 50 day moving average of $14.60 and a two-hundred day moving average of $11.67. The stock has a market capitalization of $1.86 billion, a PE ratio of 36.00 and a beta of 2.02. LendingClub has a 52 week low of $7.48 and a 52 week high of $17.15.

LendingClub (NYSE:LC) last released its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.07 by $0.06. The firm had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $190.40 million. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. LendingClub’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 EPS. Analysts expect that LendingClub will post 0.47 EPS for the current fiscal year.

LendingClub Company Profile

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.