LendingClub Co. (NYSE:LC) Receives $13.57 Average PT from Brokerages

LendingClub Co. (NYSE:LC) has earned an average rating of “Buy” from the eight brokerages that are covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have covered the stock in the last year is $15.38.

Several research firms recently commented on LC. Piper Sandler reaffirmed an “overweight” rating and set a $15.00 price objective (up from $13.00) on shares of LendingClub in a research report on Thursday, October 24th. Jefferies Financial Group boosted 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. Maxim Group lifted their price objective on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. upped their price objective on LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, Compass Point boosted their target price on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th.

Insiders Place Their Bets

In related news, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $11.09, for a total value of $188,530.00. Following the completion of the transaction, the chief executive officer now owns 1,356,273 shares in the company, valued at $15,041,067.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders sold 51,703 shares of company stock valued at $562,705. Insiders own 3.31% of the company’s stock.

Institutional Trading of LendingClub

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AlphaMark Advisors LLC acquired a new position in LendingClub during the third quarter worth $32,000. Blue Trust Inc. boosted its stake in LendingClub by 259.8% during the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after purchasing an additional 5,247 shares during the last quarter. EntryPoint Capital LLC raised its position in shares of LendingClub by 44.9% in the first quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock valued at $66,000 after buying an additional 2,328 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of LendingClub in the second quarter worth about $71,000. Finally, Innealta Capital LLC acquired a new position in shares of LendingClub during the 2nd quarter worth approximately $72,000. 74.08% of the stock is owned by institutional investors and hedge funds.

LendingClub Stock Down 0.6 %

NYSE LC opened at $14.15 on Wednesday. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 41.60 and a beta of 2.04. LendingClub has a twelve month low of $4.98 and a twelve month high of $15.52. The stock’s 50-day simple moving average is $11.81 and its two-hundred day simple moving average is $10.12.

LendingClub (NYSE:LC) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.06. The firm 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 business’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.05 earnings per share. On average, equities analysts expect that LendingClub will post 0.39 earnings per share for the current fiscal 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.