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

Shares of LendingClub Co. (NYSE:LC) have earned an average recommendation of “Buy” from the eight analysts that are covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have covered the stock in the last year is $15.38.

Several research analysts have commented on the stock. Wedbush upped their price objective on shares of LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Piper Sandler reissued an “overweight” rating and issued a $15.00 price target (up from $13.00) on shares of LendingClub in a research note on Thursday, October 24th. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods raised LendingClub from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $11.50 to $15.00 in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their price target on LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th.

LendingClub Price Performance

Shares of NYSE:LC opened at $14.92 on Friday. The stock’s 50-day moving average is $12.59 and its 200 day moving average is $10.71. The company has a market cap of $1.68 billion, a PE ratio of 32.43 and a beta of 2.01. LendingClub has a 1 year low of $5.38 and a 1 year high of $16.16.

LendingClub (NYSE:LC) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.06. The firm had revenue of $201.90 million for 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%. The business’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.05 earnings per share. Analysts expect that LendingClub will post 0.47 EPS for the current fiscal year.

Insider Transactions at LendingClub

In related news, Director John C. Morris sold 2,500 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $14.36, for a total value of $35,900.00. Following the transaction, the director now owns 203,348 shares in the company, valued at $2,920,077.28. The trade was a 1.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Jordan Cheng sold 22,000 shares of the 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 sale, the general counsel now directly owns 89,385 shares in the company, valued at $1,325,579.55. This trade represents a 19.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,500 shares of company stock valued at $996,940 in the last ninety days. 3.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LendingClub

A number of hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank raised its position in LendingClub by 1.0% in the 1st quarter. Swiss National Bank now owns 216,360 shares of the credit services provider’s stock worth $1,902,000 after buying an additional 2,100 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of LendingClub by 8.5% during the first quarter. ProShare Advisors LLC now owns 19,518 shares of the credit services provider’s stock valued at $172,000 after purchasing an additional 1,536 shares during the last quarter. Vanguard Group Inc. lifted its position in LendingClub by 1.6% during the first quarter. Vanguard Group Inc. now owns 11,446,014 shares of the credit services provider’s stock valued at $100,610,000 after purchasing an additional 175,706 shares during the period. EntryPoint Capital LLC boosted its holdings in LendingClub by 44.9% in the first quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock worth $66,000 after purchasing an additional 2,328 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in LendingClub by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 70,715 shares of the credit services provider’s stock worth $622,000 after purchasing an additional 4,479 shares during the period. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

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.