LendingClub (NYSE:LC) Price Target Raised to $20.00

LendingClub (NYSE:LC) had its price target increased by analysts at Piper Sandler from $15.00 to $20.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the credit services provider’s stock. Piper Sandler’s target price points to a potential upside of 14.22% from the stock’s previous close.

Several other analysts have also weighed in on LC. Wedbush boosted their target price on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $17.00 price objective (up previously from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. Compass Point lifted their target price on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods increased their price target on LendingClub from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Maxim Group boosted their price objective on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, LendingClub has an average rating of “Moderate Buy” and an average price target of $16.63.

LendingClub Stock Performance

Shares of LendingClub stock opened at $17.51 on Friday. The firm has a market cap of $1.97 billion, a PE ratio of 38.07 and a beta of 2.03. LendingClub has a 1 year low of $7.48 and a 1 year high of $18.75. The firm’s 50-day simple moving average is $15.84 and its 200-day simple moving average is $12.53.

LendingClub (NYSE:LC) last released its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. The company had revenue of $201.90 million for the quarter, compared to the consensus estimate of $190.40 million. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. LendingClub’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 EPS. On average, equities analysts predict that LendingClub will post 0.47 earnings per share for the current year.

Insider Buying and Selling

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $14.89, for a total transaction of $253,130.00. Following the sale, the chief executive officer now directly owns 1,339,273 shares in the company, valued at approximately $19,941,774.97. The trade was a 1.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Jordan Cheng sold 22,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $14.83, for a total transaction of $326,260.00. Following the completion of the transaction, the general counsel now owns 89,385 shares of the company’s stock, valued at $1,325,579.55. This trade represents a 19.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,500 shares of company stock valued at $1,158,610 in the last three months. 3.31% of the stock is currently owned by corporate insiders.

Institutional Trading of LendingClub

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AlphaMark Advisors LLC bought a new stake in shares of LendingClub in the 3rd quarter worth approximately $32,000. FMR LLC increased its holdings in shares of LendingClub by 32.1% in the third quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after buying an additional 1,424 shares in the last quarter. Blue Trust Inc. lifted its position in shares of LendingClub by 259.8% during the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock valued at $83,000 after acquiring an additional 5,247 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of LendingClub by 38.3% during the 2nd quarter. Hsbc Holdings PLC now owns 16,748 shares of the credit services provider’s stock valued at $141,000 after acquiring an additional 4,640 shares during the last quarter. Finally, Versor Investments LP acquired a new position in shares of LendingClub in the 2nd quarter worth $167,000. Institutional investors 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.