Keefe, Bruyette & Woods Upgrades LendingClub (NYSE:LC) to Outperform

LendingClub (NYSE:LC) was upgraded by research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a note issued to investors on Thursday, MarketBeat reports. The brokerage currently has a $15.00 target price on the credit services provider’s stock, up from their previous target price of $11.50. Keefe, Bruyette & Woods’ price target suggests a potential upside of 20.68% from the stock’s current price.

Several other research firms have also weighed in on LC. Piper Sandler reissued an “overweight” rating and set a $13.00 price objective (up from $10.00) on shares of LendingClub in a research note on Wednesday, July 31st. Jefferies Financial Group raised their price objective on LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. raised their price objective on LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Wedbush raised their price objective on LendingClub from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, StockNews.com raised LendingClub from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.57.

LendingClub Stock Performance

Shares of NYSE LC opened at $12.43 on Thursday. The stock has a fifty day moving average price of $11.15 and a two-hundred day moving average price of $9.69. The firm has a market cap of $1.39 billion, a P/E ratio of 32.71 and a beta of 2.04. LendingClub has a 1 year low of $4.73 and a 1 year high of $12.87.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. The firm had revenue of $187.20 million during the quarter, compared to analyst estimates of $177.03 million. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The firm’s quarterly revenue was down 19.5% on a year-over-year basis. During the same period last year, the company posted $0.09 EPS. On average, research analysts predict that LendingClub will post 0.38 earnings per share for the current fiscal year.

Insider Transactions at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $10.25, for a total value of $174,250.00. Following the completion of the sale, the chief executive officer now owns 1,383,362 shares of the company’s stock, valued at $14,179,460.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 51,703 shares of company stock valued at $562,705 over the last quarter. Company insiders own 3.31% of the company’s stock.

Institutional Trading of LendingClub

Several hedge funds and other institutional investors have recently modified their holdings of LC. EntryPoint Capital LLC raised its holdings in shares of LendingClub by 44.9% during the first quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock worth $66,000 after acquiring an additional 2,328 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of LendingClub during the second quarter worth $71,000. Innealta Capital LLC purchased a new stake in shares of LendingClub during the second quarter worth $72,000. SG Americas Securities LLC raised its holdings in shares of LendingClub by 16.3% during the second quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock worth $104,000 after acquiring an additional 1,732 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in shares of LendingClub during the first quarter worth $129,000. 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.