LendingClub Co. (NYSE:LC) Receives $16.63 Average Target Price from Analysts

LendingClub Co. (NYSE:LC) has been assigned an average rating of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $16.63.

Several research analysts recently issued reports on the stock. StockNews.com lowered shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Wedbush raised their target price 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. Piper Sandler boosted their price target on LendingClub from $15.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $17.00 price objective (up previously from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. Finally, Keefe, Bruyette & Woods lifted their price objective on LendingClub from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

LendingClub Price Performance

LC opened at $15.94 on Monday. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 34.65 and a beta of 2.03. LendingClub has a one year low of $7.48 and a one year high of $18.75. The business has a 50 day simple moving average of $15.97 and a two-hundred day simple moving average of $12.73.

LendingClub (NYSE:LC) last issued its quarterly earnings data 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 business had revenue of $201.90 million during the quarter, compared to analyst estimates of $190.40 million. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 EPS. As a group, sell-side analysts expect that LendingClub will post 0.47 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total value of $274,040.00. Following the completion of the transaction, the chief executive officer now owns 1,312,184 shares of the company’s stock, valued at $21,152,406.08. This represents a 1.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John C. Morris sold 2,500 shares of the business’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 value of $35,900.00. Following the completion of the transaction, the director now directly owns 203,348 shares in the company, valued at approximately $2,920,077.28. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,500 shares of company stock valued at $1,158,610. 3.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LendingClub

A number of hedge funds have recently made changes to their positions in LC. AlphaMark Advisors LLC purchased a new stake in shares of LendingClub during the 3rd quarter valued at about $32,000. FMR LLC raised its position in LendingClub by 32.1% during the third quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after purchasing an additional 1,424 shares during the period. Blue Trust Inc. lifted its stake in shares of 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 purchasing an additional 5,247 shares during the last quarter. Alpha Cubed Investments LLC purchased a new position in shares of LendingClub in the 3rd quarter worth approximately $170,000. Finally, Princeton Capital Management LLC bought a new position in shares of LendingClub during the 3rd quarter valued at approximately $171,000. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

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.