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

Shares of LendingClub Co. (NYSE:LC) have received an average recommendation of “Buy” from the eight research firms that are covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $15.38.

A number of equities research analysts recently commented on LC shares. JPMorgan Chase & Co. increased their price target on LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Piper Sandler reiterated an “overweight” rating and issued a $15.00 target price (up previously from $13.00) on shares of LendingClub in a report on Thursday, October 24th. Compass Point raised their price target on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods raised shares of LendingClub from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $11.50 to $15.00 in a research report on Thursday, October 10th. Finally, Wedbush lifted their target price on shares of LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th.

Insider Activity

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were 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 of the company’s stock, valued at $15,041,067.57. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John C. Morris sold 2,500 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $14.36, for a total transaction of $35,900.00. Following the sale, the director now owns 203,348 shares in the company, valued at approximately $2,920,077.28. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,500 shares of company stock worth $996,940 over the last ninety days. Company insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On LendingClub

A number of large investors have recently modified their holdings of the company. AlphaMark Advisors LLC purchased a new position in shares of LendingClub in the third quarter worth about $32,000. EntryPoint Capital LLC increased its stake in LendingClub by 44.9% in the 1st quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock worth $66,000 after purchasing an additional 2,328 shares during the period. FMR LLC lifted its position in 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 purchasing an additional 1,424 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of LendingClub during the second quarter valued at approximately $71,000. Finally, Innealta Capital LLC bought a new position in shares of LendingClub in the second quarter worth approximately $72,000. 74.08% of the stock is owned by hedge funds and other institutional investors.

LendingClub Price Performance

Shares of LendingClub stock opened at $14.92 on Friday. The business has a 50-day simple moving average of $12.59 and a 200 day simple moving average of $10.71. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 32.43 and a beta of 2.01. LendingClub has a one year low of $5.38 and a one year high of $16.16.

LendingClub (NYSE:LC) last announced its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The business had revenue of $201.90 million during the quarter, compared to analyst estimates of $190.40 million. During the same quarter in the previous year, the business posted $0.05 EPS. LendingClub’s quarterly revenue was up .5% on a year-over-year basis. On average, sell-side analysts expect that LendingClub will post 0.47 EPS 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.