LendingClub Co. (NYSE:LC) Receives $13.57 Average Price Target from Analysts

LendingClub Co. (NYSE:LC) has received a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $15.38.

LC has been the topic of a number of research reports. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a report on Friday. Maxim Group upped their price target on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday. Wedbush upped their price target on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday. Compass Point increased their target price on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday. Finally, Keefe, Bruyette & Woods upgraded LendingClub from a “market perform” rating to an “outperform” rating and increased their target price for the company from $11.50 to $15.00 in a report on Thursday, October 10th.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in LC. Wellington Management Group LLP raised its position in shares of LendingClub by 176.1% in the 4th quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock worth $11,749,000 after buying an additional 857,371 shares during the period. Vanguard Group Inc. raised its position in shares of LendingClub by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock worth $98,502,000 after buying an additional 336,827 shares during the period. Capstone Investment Advisors LLC purchased a new position in shares of LendingClub in the 1st quarter worth $164,000. GSA Capital Partners LLP raised its position in shares of LendingClub by 38.2% in the 1st quarter. GSA Capital Partners LLP now owns 143,839 shares of the credit services provider’s stock worth $1,264,000 after buying an additional 39,733 shares during the period. Finally, Empowered Funds LLC raised its position in shares of LendingClub by 8.2% in the 1st quarter. Empowered Funds LLC now owns 314,729 shares of the credit services provider’s stock worth $2,766,000 after buying an additional 23,790 shares during the period. 74.08% of the stock is owned by hedge funds and other institutional investors.

LendingClub Price Performance

Shares of NYSE:LC opened at $13.59 on Wednesday. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 35.76 and a beta of 2.04. The business’s 50 day simple moving average is $11.69 and its 200-day simple moving average is $10.02. LendingClub has a 12 month low of $4.73 and a 12 month high of $15.52.

LendingClub (NYSE:LC) last released its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. The business had revenue of $201.90 million for the quarter, compared to analysts’ expectations of $190.40 million. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 EPS. On average, equities analysts anticipate that LendingClub will post 0.39 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.