LendingClub Co. (NYSE:LC) Given Consensus Rating of “Moderate Buy” by Brokerages

LendingClub Co. (NYSE:LC) has earned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $16.63.

LC has been the topic of several recent analyst reports. StockNews.com lowered shares of LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Compass Point upped their price target on LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Wedbush boosted their price objective on LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Maxim Group increased their target price on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $17.00 target price (up from $14.00) on shares of LendingClub in a research report on Monday, December 2nd.

Insider Buying and Selling at LendingClub

In other LendingClub news, General Counsel Jordan Cheng sold 22,000 shares of LendingClub stock in a transaction dated 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 of the company’s stock, valued at $1,325,579.55. The trade was a 19.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $14.89, for a total value of $253,130.00. Following the completion of the transaction, the chief executive officer now owns 1,339,273 shares in the company, valued at approximately $19,941,774.97. The trade was a 1.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,500 shares of company stock valued at $1,158,610 in the last quarter. Corporate insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On LendingClub

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in shares of LendingClub by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock worth $49,901,000 after buying an additional 300,536 shares during the last quarter. State Street Corp raised its stake in LendingClub by 2.2% during the 3rd quarter. State Street Corp now owns 3,896,816 shares of the credit services provider’s stock worth $44,541,000 after acquiring an additional 82,315 shares in the last quarter. Geode Capital Management LLC lifted its position in LendingClub by 1.7% in the third quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider’s stock valued at $29,265,000 after acquiring an additional 42,429 shares during the last quarter. American Century Companies Inc. boosted its stake in 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 valued at $14,032,000 after acquiring an additional 329,279 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of LendingClub by 98.1% during the third quarter. Point72 Asset Management L.P. now owns 1,547,342 shares of the credit services provider’s stock worth $17,686,000 after purchasing an additional 766,287 shares during the last quarter. 74.08% of the stock is owned by institutional investors and hedge funds.

LendingClub Stock Up 8.6 %

LC stock opened at $17.51 on Monday. LendingClub has a 52-week low of $7.48 and a 52-week high of $18.75. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 38.07 and a beta of 2.03. The business has a fifty day moving average of $15.84 and a two-hundred day moving average of $12.56.

LendingClub (NYSE:LC) last issued its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $201.90 million during the quarter, compared to the consensus estimate of $190.40 million. During the same period last year, the company earned $0.05 EPS. The company’s quarterly revenue was up .5% on a year-over-year basis. As a group, sell-side analysts anticipate 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.