Brokerages Set LendingClub Co. (NYSE:LC) Target Price at $16.63

Shares of LendingClub Co. (NYSE:LC) have been given an average rating of “Moderate Buy” by the eight ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $16.63.

LC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their target price on LendingClub from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Compass Point boosted their price objective on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $17.00 target price (up from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. Finally, Wedbush lifted their price target on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th.

LendingClub Trading Down 2.1 %

Shares of NYSE:LC opened at $15.94 on Monday. LendingClub has a 12 month low of $7.48 and a 12 month high of $18.75. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 34.65 and a beta of 2.03. The firm’s 50-day moving average is $15.97 and its 200 day moving average is $12.73.

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

Insider Activity

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $14.89, for a total value of $253,130.00. Following the completion of the sale, the chief executive officer now owns 1,339,273 shares of the company’s stock, valued at approximately $19,941,774.97. This trade represents a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Jordan Cheng sold 22,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $14.83, for a total transaction of $326,260.00. Following the transaction, the general counsel now owns 89,385 shares in the company, valued at approximately $1,325,579.55. This trade represents a 19.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,500 shares of company stock worth $1,158,610. Corporate insiders own 3.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Range Financial Group LLC acquired a new stake in shares of LendingClub in the fourth quarter worth $1,510,000. JPMorgan Chase & Co. increased its holdings in LendingClub by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider’s stock worth $11,409,000 after acquiring an additional 45,307 shares in the last quarter. Geode Capital Management LLC raised its position in LendingClub by 1.7% during the third quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider’s stock worth $29,265,000 after acquiring an additional 42,429 shares during the period. Barclays PLC lifted its holdings in LendingClub by 206.6% during the third quarter. Barclays PLC now owns 225,902 shares of the credit services provider’s stock valued at $2,582,000 after purchasing an additional 152,224 shares in the last quarter. Finally, XTX Topco Ltd grew its position in shares of LendingClub by 55.4% in the third quarter. XTX Topco Ltd now owns 19,789 shares of the credit services provider’s stock valued at $226,000 after purchasing an additional 7,054 shares during the period. Institutional investors and hedge funds own 74.08% of the company’s stock.

About LendingClub

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.