LendingClub (NYSE:LC) Price Target Raised to $19.00

LendingClub (NYSE:LC) had its target price boosted by Compass Point from $15.00 to $19.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the credit services provider’s stock.

A number of other analysts have also commented on the company. Piper Sandler reissued an “overweight” rating and set a $15.00 price target (up from $13.00) on shares of LendingClub in a research note on Thursday, October 24th. Wedbush boosted their target price on shares of LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Maxim Group raised their price target on shares of LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. boosted their price objective 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. Finally, Jefferies Financial Group raised their target price on LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.38.

LendingClub Trading Up 4.7 %

Shares of LendingClub stock opened at $14.23 on Friday. The firm’s 50 day moving average is $11.69 and its 200 day moving average is $10.04. The firm has a market capitalization of $1.58 billion, a PE ratio of 42.56 and a beta of 2.04. LendingClub has a 1 year low of $4.98 and a 1 year high of $15.52.

LendingClub (NYSE:LC) last posted its 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. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. The firm had revenue of $201.90 million for the quarter, compared to analysts’ expectations of $190.40 million. During the same quarter in the previous year, the firm posted $0.05 earnings per share. The company’s revenue was up .5% on a year-over-year basis. As a group, research analysts anticipate that LendingClub will post 0.39 earnings per share for the current year.

Insider Buying and Selling at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $11.36, for a total value of $193,120.00. Following the completion of the transaction, the chief executive officer now directly owns 1,373,273 shares of the company’s stock, valued at approximately $15,600,381.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 51,703 shares of company stock valued at $562,705. 3.31% of the stock is currently owned by insiders.

Institutional Trading of LendingClub

Several large investors have recently modified their holdings of LC. Baader Bank Aktiengesellschaft bought a new position in LendingClub in the second quarter worth approximately $600,000. Capstone Investment Advisors LLC acquired a new position in shares of LendingClub during the first quarter worth approximately $164,000. Vanguard Group Inc. grew its position in LendingClub by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock valued at $98,502,000 after purchasing an additional 336,827 shares during the period. Interval Partners LP increased its stake in LendingClub by 54.3% during the 2nd quarter. Interval Partners LP now owns 495,039 shares of the credit services provider’s stock valued at $4,188,000 after purchasing an additional 174,130 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in LendingClub by 8.2% during the first 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 last quarter. 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.