LendingClub (NYSE:LC) Stock Rating Reaffirmed by Piper Sandler

LendingClub (NYSE:LC)‘s stock had its “overweight” rating reaffirmed by Piper Sandler in a research note issued on Thursday, Benzinga reports. They currently have a $15.00 price target on the credit services provider’s stock, up from their previous price target of $13.00. Piper Sandler’s price target points to a potential upside of 10.38% from the company’s previous close.

Other analysts have also issued reports about the stock. StockNews.com upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Compass Point increased their target price on LendingClub from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Jefferies Financial Group lifted their price objective on LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Wedbush upped their target price on shares of LendingClub from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lifted their price target on shares of LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.38.

LendingClub Price Performance

NYSE:LC opened at $13.59 on Thursday. The firm’s 50-day moving average price is $11.69 and its 200-day moving average price is $10.02. LendingClub has a 1-year low of $4.73 and a 1-year high of $15.52. The company has a market capitalization of $1.52 billion, a PE ratio of 35.76 and a beta of 2.04.

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

Insider Activity at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction on Thursday, August 8th. The shares were 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 in the company, valued at $14,179,460.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 51,703 shares of company stock worth $562,705. 3.31% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. AlphaMark Advisors LLC purchased a new stake in LendingClub in the 3rd quarter worth approximately $32,000. EntryPoint Capital LLC raised its position in shares of LendingClub by 44.9% during the 1st quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock valued at $66,000 after purchasing an additional 2,328 shares during the period. nVerses Capital LLC purchased a new position in shares of LendingClub during the 2nd quarter valued at $71,000. Innealta Capital LLC bought a new position in LendingClub in the 2nd quarter worth $72,000. Finally, Blue Trust Inc. increased its stake in LendingClub by 259.8% in the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after buying an additional 5,247 shares in the last quarter. Institutional investors own 74.08% of the company’s stock.

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.