LendingClub (NYSE:LC) PT Raised to $17.00 at Wedbush

LendingClub (NYSE:LC) had its price objective raised by Wedbush from $14.00 to $17.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the credit services provider’s stock. Wedbush’s price objective would indicate a potential upside of 25.09% from the stock’s current price. Wedbush also issued estimates for LendingClub’s Q4 2024 earnings at $0.13 EPS, FY2024 earnings at $0.50 EPS, Q1 2025 earnings at $0.21 EPS, Q3 2025 earnings at $0.31 EPS, Q4 2025 earnings at $0.29 EPS, FY2025 earnings at $1.05 EPS and FY2026 earnings at $1.25 EPS.

A number of other research firms have also issued reports on LC. Keefe, Bruyette & Woods upgraded LendingClub from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $11.50 to $15.00 in a report on Thursday, October 10th. Piper Sandler reiterated an “overweight” rating and issued a $15.00 price objective (up previously from $13.00) on shares of LendingClub in a research note on Thursday. Jefferies Financial Group upped their target price on shares of LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Compass Point lifted their price target on shares of LendingClub from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, StockNews.com raised shares of LendingClub from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.38.

LendingClub Price Performance

NYSE LC opened at $13.59 on Thursday. The company has a market cap of $1.52 billion, a P/E ratio of 35.76 and a beta of 2.04. The stock has a 50-day moving average of $11.69 and a two-hundred day moving average of $10.02. LendingClub has a 1-year low of $4.73 and a 1-year high of $15.52.

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

Insider Activity

In related news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were 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 directly owns 1,383,362 shares of the company’s stock, valued at $14,179,460.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 51,703 shares of company stock worth $562,705. Corporate insiders own 3.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. SteelPeak Wealth LLC purchased a new position in shares of LendingClub during the third quarter worth approximately $562,000. Assenagon Asset Management S.A. grew its position in LendingClub by 120.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider’s stock worth $17,351,000 after purchasing an additional 828,958 shares during the last quarter. International Assets Investment Management LLC increased its stake in LendingClub by 813.3% in the third quarter. International Assets Investment Management LLC now owns 181,737 shares of the credit services provider’s stock valued at $2,077,000 after purchasing an additional 161,837 shares during the period. Blue Trust Inc. increased its stake in LendingClub by 259.8% in the third 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 period. Finally, AlphaMark Advisors LLC purchased a new stake in shares of LendingClub in the third quarter valued at about $32,000. Institutional investors and hedge funds own 74.08% of the company’s stock.

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.