LendingClub Co. (NYSE:LC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of LendingClub Co. (NYSE:LC) have been given a consensus recommendation of “Moderate Buy” by the five brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $11.17.

A number of equities analysts have weighed in on LC shares. Keefe, Bruyette & Woods upped their target price on LendingClub from $9.50 to $10.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 1st. Wedbush restated an “outperform” rating and set a $11.00 price target on shares of LendingClub in a research report on Wednesday, May 1st. Piper Sandler reiterated an “overweight” rating and issued a $10.00 price objective (up previously from $9.50) on shares of LendingClub in a report on Wednesday, May 1st. BTIG Research assumed coverage on LendingClub in a research note on Friday, June 7th. They issued a “buy” rating and a $12.00 target price for the company. Finally, StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd.

Insider Transactions at LendingClub

In other news, Director Erin Selleck sold 4,083 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $8.88, for a total transaction of $36,257.04. Following the sale, the director now owns 54,571 shares of the company’s stock, valued at approximately $484,590.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.31% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. lifted its stake in shares of LendingClub by 526.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,884,751 shares of the credit services provider’s stock worth $11,497,000 after acquiring an additional 1,583,882 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of LendingClub by 176.1% in the 4th quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock worth $11,749,000 after acquiring an additional 857,371 shares during the last quarter. rhino investment partners Inc acquired a new position in shares of LendingClub in the 4th quarter worth $6,838,000. Verition Fund Management LLC acquired a new position in shares of LendingClub in the 4th quarter worth $6,115,000. Finally, Jackson Square Partners LLC boosted its position in shares of LendingClub by 5.9% in the fourth quarter. Jackson Square Partners LLC now owns 9,723,943 shares of the credit services provider’s stock worth $84,987,000 after buying an additional 541,538 shares during the period. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

LendingClub Stock Down 0.4 %

NYSE LC opened at $8.26 on Thursday. The company has a market cap of $917.85 million, a price-to-earnings ratio of 24.29 and a beta of 2.07. LendingClub has a 52 week low of $4.73 and a 52 week high of $10.92. The business has a 50 day moving average price of $8.60 and a 200-day moving average price of $8.42.

LendingClub (NYSE:LC) last announced its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.08. LendingClub had a return on equity of 3.04% and a net margin of 4.69%. The business had revenue of $180.69 million during the quarter, compared to the consensus estimate of $174.52 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. On average, equities research analysts anticipate that LendingClub will post 0.27 earnings per share for the current 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.