LendingClub Co. (NYSE:LC) Receives $16.00 Average PT from Analysts

Shares of LendingClub Co. (NYSE:LC) have received an average recommendation of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $16.00.

Several equities analysts recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $15.00 price objective (up from $13.00) on shares of LendingClub in a research report on Thursday, October 24th. Compass Point raised their price target on shares of LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. StockNews.com lowered shares of LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Wedbush raised their target price on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Maxim Group boosted their price target on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th.

LendingClub Stock Up 1.4 %

Shares of LC stock opened at $16.56 on Thursday. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 36.00 and a beta of 2.02. LendingClub has a 52-week low of $7.48 and a 52-week high of $17.15. The company’s 50 day moving average is $14.60 and its 200 day moving average is $11.67.

LendingClub (NYSE:LC) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.06. The company had revenue of $201.90 million for 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 quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 earnings per share. Analysts anticipate that LendingClub will post 0.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Jordan Cheng sold 22,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $14.83, for a total value of $326,260.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $11.09, for a total transaction of $188,530.00. Following the completion of the sale, the chief executive officer now owns 1,356,273 shares of the company’s stock, valued at approximately $15,041,067.57. The trade was a 1.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 75,500 shares of company stock worth $1,073,100. Corporate insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On LendingClub

Several institutional investors and hedge funds have recently bought and sold shares of the company. AlphaMark Advisors LLC purchased a new stake in shares of LendingClub in the 3rd quarter valued at approximately $32,000. FMR LLC raised 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 period. Blue Trust Inc. lifted its stake in LendingClub by 259.8% during the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after purchasing an additional 5,247 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of LendingClub during the second quarter worth $71,000. Finally, Innealta Capital LLC acquired a new stake in shares of LendingClub in the second quarter valued at $72,000. 74.08% of the stock is currently owned by institutional investors and hedge funds.

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.