Analysts Set LendingClub Co. (NYSE:LC) Target Price at $13.07

Shares of LendingClub Co. (NYSE:LC) have received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $13.07.

LC has been the subject of several research analyst reports. Compass Point boosted their target price on shares of LendingClub from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Piper Sandler reaffirmed an “overweight” rating and set a $13.00 target price (up previously from $10.00) on shares of LendingClub in a report on Wednesday, July 31st. StockNews.com upgraded LendingClub from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Keefe, Bruyette & Woods upped their price target on LendingClub from $10.00 to $11.50 and gave the company a “market perform” rating in a research report on Wednesday, July 31st.

Insider Buying and Selling at LendingClub

In related news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $11.36, for a total transaction of $193,120.00. Following the sale, the chief executive officer now owns 1,373,273 shares of the company’s stock, valued at $15,600,381.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 34,703 shares of company stock valued at $374,175. Company insiders own 3.31% of the company’s stock.

Institutional Trading of LendingClub

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC raised its position in shares of LendingClub by 5.3% during the second quarter. International Assets Investment Management LLC now owns 19,900 shares of the credit services provider’s stock worth $168,000 after purchasing an additional 1,000 shares during the period. The Manufacturers Life Insurance Company lifted its stake in LendingClub by 0.5% during the second quarter. The Manufacturers Life Insurance Company now owns 302,844 shares of the credit services provider’s stock valued at $2,562,000 after buying an additional 1,445 shares in the last quarter. ProShare Advisors LLC lifted its stake in 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 buying an additional 1,536 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of LendingClub by 16.3% in the second quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock worth $104,000 after buying an additional 1,732 shares during the period. Finally, Swiss National Bank increased its position in shares of LendingClub by 1.0% in the first quarter. Swiss National Bank now owns 216,360 shares of the credit services provider’s stock worth $1,902,000 after acquiring an additional 2,100 shares in the last quarter. 74.08% of the stock is currently owned by institutional investors.

LendingClub Trading Up 3.6 %

Shares of LC opened at $11.43 on Friday. The firm has a market capitalization of $1.27 billion, a P/E ratio of 33.62 and a beta of 2.04. LendingClub has a twelve month low of $4.73 and a twelve month high of $12.87. The stock’s fifty day simple moving average is $11.07 and its 200 day simple moving average is $9.49.

LendingClub (NYSE:LC) last released its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The firm had revenue of $187.20 million during the quarter, compared to analysts’ expectations of $177.03 million. During the same quarter in the prior year, the business earned $0.09 EPS. LendingClub’s quarterly revenue was down 19.5% compared to the same quarter last year. Sell-side analysts predict that LendingClub will post 0.38 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.