Wedbush Reaffirms “Outperform” Rating for LendingClub (NYSE:LC)

Wedbush reiterated their outperform rating on shares of LendingClub (NYSE:LC) in a research report released on Wednesday, Benzinga reports. They currently have a $11.00 price target on the credit services provider’s stock.

Separately, StockNews.com cut LendingClub from a hold rating to a sell rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $11.42.

LendingClub Price Performance

Shares of NYSE:LC opened at $8.98 on Wednesday. The company has a market capitalization of $997.86 million, a P/E ratio of 26.41 and a beta of 2.00. LendingClub has a 1-year low of $4.73 and a 1-year high of $10.92. The firm’s 50 day simple moving average is $8.18 and its two-hundred day simple moving average is $7.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.89 and a quick ratio of 0.83.

LendingClub (NYSE:LC) last released its earnings results on Tuesday, April 30th. The credit services provider reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.08. LendingClub had a net margin of 4.69% and a return on equity of 3.07%. The company had revenue of $180.69 million for the quarter, compared to analysts’ expectations of $174.52 million. During the same quarter in the previous year, the company earned $0.13 EPS. Research analysts expect that LendingClub will post 0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On LendingClub

A number of hedge funds have recently made changes to their positions in the company. Asset Management One Co. Ltd. raised its stake in LendingClub by 40.7% during the third quarter. Asset Management One Co. Ltd. now owns 8,217 shares of the credit services provider’s stock valued at $50,000 after purchasing an additional 2,377 shares in the last quarter. Nisa Investment Advisors LLC grew its position in LendingClub by 363.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,999 shares of the credit services provider’s stock worth $61,000 after acquiring an additional 5,489 shares in the last quarter. Pathstone Family Office LLC bought a new stake in LendingClub during the third quarter worth approximately $65,000. Maltin Wealth Management Inc. purchased a new stake in LendingClub during the fourth quarter valued at approximately $87,000. Finally, Acadian Asset Management LLC bought a new stake in shares of LendingClub in the 3rd quarter valued at approximately $91,000. 74.08% of the stock is currently owned by hedge funds and other 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.