Analysts Set LendingClub Co. (NYSE:LC) Price Target at $15.38

LendingClub Co. (NYSE:LC) has been given an average recommendation of “Buy” by the eight brokerages that are currently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $15.38.

Several analysts have recently commented on LC shares. 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. StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods raised LendingClub from a “market perform” rating to an “outperform” rating and increased their price target for the company from $11.50 to $15.00 in a research report on Thursday, October 10th. Maxim Group boosted 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, Wedbush raised their target price on LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th.

LendingClub Price Performance

LC opened at $15.96 on Friday. LendingClub has a fifty-two week low of $5.45 and a fifty-two week high of $16.16. The firm has a market capitalization of $1.79 billion, a PE ratio of 34.69 and a beta of 2.01. The company’s 50-day moving average is $12.87 and its 200 day moving average is $10.86.

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

Insider Buying and Selling

In other LendingClub news, Director John C. Morris sold 2,500 shares of the stock in a transaction on Tuesday, October 29th. The stock was 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 $2,920,077.28. This represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,500 shares of company stock valued at $996,940. 3.31% of the stock is owned by insiders.

Institutional Investors Weigh In On LendingClub

Several hedge funds and other institutional investors have recently modified their holdings of LC. Vanguard Group Inc. raised its position in shares of LendingClub by 1.6% in the first quarter. Vanguard Group Inc. now owns 11,446,014 shares of the credit services provider’s stock worth $100,610,000 after buying an additional 175,706 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of LendingClub by 5.4% in 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 acquiring an additional 300,536 shares in the last quarter. State Street Corp boosted its position in shares of LendingClub by 2.2% during the 3rd quarter. State Street Corp now owns 3,896,816 shares of the credit services provider’s stock valued at $44,541,000 after acquiring an additional 82,315 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 worth $29,265,000 after purchasing an additional 42,429 shares in the last quarter. Finally, American Century Companies Inc. increased its position 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 purchasing an additional 329,279 shares during the last quarter. 74.08% of the stock is currently owned by 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.