LendingClub (NYSE:LC) PT Raised to $19.00

LendingClub (NYSE:LC) had its price objective raised by Compass Point from $15.00 to $19.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the credit services provider’s stock. Compass Point’s target price would suggest a potential upside of 39.81% from the stock’s current price.

A number of other research analysts have also recently commented on LC. Wedbush upped their target price on LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday. Keefe, Bruyette & Woods raised LendingClub from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $11.50 to $15.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. increased their price objective on LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Jefferies Financial Group increased their price objective on LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, StockNews.com raised LendingClub from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, LendingClub currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.38.

LendingClub Stock Performance

LC opened at $13.59 on Friday. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 35.76 and a beta of 2.04. The stock’s 50 day moving average price is $11.69 and its 200-day moving average price is $10.02. LendingClub has a one year low of $4.73 and a one year high of $15.52.

LendingClub (NYSE:LC) last released its 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. The firm had revenue of $201.90 million for the quarter, compared to analysts’ expectations of $190.40 million. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share. As a group, analysts predict that LendingClub will post 0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was 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 in the company, valued at $15,041,067.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 51,703 shares of company stock worth $562,705 over the last 90 days. Company insiders own 3.31% of the company’s stock.

Institutional Trading of LendingClub

Hedge funds and other institutional investors have recently made changes to their positions in the business. Baader Bank Aktiengesellschaft purchased a new stake in shares of LendingClub during the 2nd quarter valued at $600,000. Capstone Investment Advisors LLC purchased a new stake in shares of LendingClub during the 1st quarter valued at $164,000. Vanguard Group Inc. lifted its holdings in shares of LendingClub by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock valued at $98,502,000 after purchasing an additional 336,827 shares during the last quarter. Interval Partners LP lifted its holdings in shares of LendingClub by 54.3% during the 2nd quarter. Interval Partners LP now owns 495,039 shares of the credit services provider’s stock valued at $4,188,000 after purchasing an additional 174,130 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of LendingClub by 8.2% during the 1st quarter. Empowered Funds LLC now owns 314,729 shares of the credit services provider’s stock valued at $2,766,000 after purchasing an additional 23,790 shares during the last quarter. Hedge funds and other institutional investors own 74.08% of the company’s stock.

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.