LendingClub Co. (NYSE:LC) Receives Average Rating of “Moderate Buy” from Brokerages

LendingClub Co. (NYSE:LC) has received a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $16.00.

A number of analysts recently commented on the stock. StockNews.com cut shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $17.00 price target (up from $14.00) on shares of LendingClub in a report on Monday, December 2nd. Compass Point boosted their price objective on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Piper Sandler restated an “overweight” rating and issued a $15.00 target price (up previously from $13.00) on shares of LendingClub in a research note on Thursday, October 24th. Finally, Maxim Group upped their price target on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th.

LendingClub Price Performance

NYSE:LC opened at $16.58 on Thursday. The company has a market capitalization of $1.86 billion, a P/E ratio of 36.04 and a beta of 2.02. The business has a fifty day simple moving average of $14.95 and a two-hundred day simple moving average of $11.87. LendingClub has a 1 year low of $7.48 and a 1 year high of $18.75.

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, topping the consensus estimate of $0.07 by $0.06. The company had revenue of $201.90 million during the quarter, compared to analyst estimates of $190.40 million. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 EPS. As a group, analysts anticipate that LendingClub will post 0.47 earnings per share for the current year.

Insider Activity at LendingClub

In related news, CEO Scott Sanborn sold 17,000 shares of the 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 transaction, the chief executive officer now owns 1,356,273 shares of the company’s stock, valued at $15,041,067.57. This represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Jordan Cheng sold 22,000 shares of LendingClub stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $14.83, for a total value of $326,260.00. Following the sale, the general counsel now directly owns 89,385 shares of the company’s stock, valued at approximately $1,325,579.55. This trade represents a 19.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,500 shares of company stock valued at $1,073,100 over the last three months. 3.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in shares of LendingClub by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock valued at $49,901,000 after purchasing an additional 300,536 shares during the last quarter. State Street Corp grew its stake in shares of LendingClub by 2.2% during the third quarter. State Street Corp now owns 3,896,816 shares of the credit services provider’s stock valued at $44,541,000 after buying an additional 82,315 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of LendingClub by 1.7% during the third quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider’s stock valued at $29,265,000 after buying an additional 42,429 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of LendingClub by 24.8% in the second quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock worth $14,032,000 after buying an additional 329,279 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in shares of LendingClub by 98.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,547,342 shares of the credit services provider’s stock valued at $17,686,000 after acquiring an additional 766,287 shares during the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

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.