LendingClub Co. (NYSE:LC) Given Average Recommendation of “Moderate Buy” by Analysts

LendingClub Co. (NYSE:LC) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $16.63.

Several brokerages have weighed in on LC. Wedbush increased their price target on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $17.00 target price (up from $14.00) on shares of LendingClub in a report on Monday, December 2nd. Keefe, Bruyette & Woods boosted their price target on LendingClub from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Maxim Group upped their price objective on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Piper Sandler lifted their target price on shares of LendingClub from $15.00 to $20.00 and gave the company an “overweight” rating in a report on Friday.

Insider Buying and Selling at LendingClub

In related news, General Counsel Jordan Cheng sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $14.83, for a total transaction of $326,260.00. Following the completion of the sale, the general counsel now directly owns 89,385 shares in the company, valued at approximately $1,325,579.55. The trade was a 19.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Morris sold 2,500 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $14.36, for a total value of $35,900.00. Following the completion of the transaction, the director now directly owns 203,348 shares of the company’s stock, valued at approximately $2,920,077.28. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,500 shares of company stock valued at $1,158,610 over the last ninety days. Corporate insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On LendingClub

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in LendingClub by 9.5% during the second quarter. Bank of New York Mellon Corp now owns 447,522 shares of the credit services provider’s stock worth $3,786,000 after buying an additional 38,912 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of LendingClub by 93.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,468 shares of the credit services provider’s stock worth $292,000 after acquiring an additional 16,606 shares during the period. Versor Investments LP acquired a new position in shares of LendingClub during the 2nd quarter valued at about $167,000. Rhumbline Advisers grew its holdings in shares of LendingClub by 3.2% in the second quarter. Rhumbline Advisers now owns 175,174 shares of the credit services provider’s stock valued at $1,482,000 after purchasing an additional 5,418 shares during the period. Finally, American Century Companies Inc. increased its position in LendingClub by 24.8% during 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 purchasing an additional 329,279 shares during the last quarter. 74.08% of the stock is currently owned by institutional investors and hedge funds.

LendingClub Stock Performance

Shares of LC stock opened at $17.51 on Monday. LendingClub has a fifty-two week low of $7.48 and a fifty-two week high of $18.75. The firm has a market capitalization of $1.97 billion, a PE ratio of 38.07 and a beta of 2.03. The stock’s 50-day simple moving average is $15.84 and its 200-day simple moving average is $12.56.

LendingClub (NYSE:LC) last issued its quarterly earnings results 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. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The company had revenue of $201.90 million for the quarter, compared to the consensus estimate of $190.40 million. During the same quarter in the prior year, the company earned $0.05 EPS. LendingClub’s quarterly revenue was up .5% on a year-over-year basis. Sell-side analysts forecast that LendingClub will post 0.47 earnings per share for the current year.

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.