JPMorgan Chase & Co. Reiterates Neutral Rating for LendingClub (NYSE:LC)

LendingClub (NYSE:LC)‘s stock had its “neutral” rating reissued by investment analysts at JPMorgan Chase & Co. in a research note issued to investors on Monday, Marketbeat reports. They presently have a $17.00 target price on the credit services provider’s stock, up from their prior target price of $14.00. JPMorgan Chase & Co.‘s target price indicates a potential upside of 8.01% from the company’s previous close.

Several other equities analysts have also recently issued reports on LC. Maxim Group boosted their price objective on shares of LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. StockNews.com lowered shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Piper Sandler restated an “overweight” rating and issued a $15.00 price objective (up previously from $13.00) on shares of LendingClub in a research report on Thursday, October 24th. Keefe, Bruyette & Woods raised LendingClub from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $11.50 to $15.00 in a report on Thursday, October 10th. Finally, Wedbush increased their target price on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.75.

LendingClub Trading Down 0.5 %

Shares of LC opened at $15.74 on Monday. The company’s 50 day simple moving average is $13.82 and its 200-day simple moving average is $11.32. The firm has a market cap of $1.77 billion, a PE ratio of 34.22 and a beta of 2.02. LendingClub has a 12-month low of $6.56 and a 12-month high of $17.15.

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

Insider Transactions at LendingClub

In related news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $11.09, for a total transaction of $188,530.00. Following the completion of the sale, the chief executive officer now owns 1,356,273 shares in the company, valued at approximately $15,041,067.57. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,500 shares of company stock valued at $996,940 in the last ninety days. Corporate insiders own 3.31% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. AlphaMark Advisors LLC acquired a new position in LendingClub in the third quarter valued at $32,000. FMR LLC lifted its holdings in shares of LendingClub by 32.1% during the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock worth $67,000 after acquiring an additional 1,424 shares during the period. nVerses Capital LLC acquired a new stake in shares of LendingClub in the second quarter worth approximately $71,000. Innealta Capital LLC purchased a new stake in LendingClub in the second quarter valued at approximately $72,000. Finally, Blue Trust Inc. increased its position in LendingClub by 259.8% during the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after purchasing an additional 5,247 shares during the last quarter. Hedge funds and other institutional investors 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.