Analysts Set LendingClub Co. (NYSE:LC) Price Target at $11.17

LendingClub Co. (NYSE:LC) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $11.29.

A number of research firms recently weighed in on LC. Wedbush reiterated an “outperform” rating and issued a $11.00 price objective on shares of LendingClub in a research report on Wednesday, May 1st. Keefe, Bruyette & Woods lifted their target price on shares of LendingClub from $9.50 to $10.00 and gave the company a “market perform” rating in a report on Wednesday, May 1st. Jefferies Financial Group boosted their price target on shares of LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday. BTIG Research initiated coverage on shares of LendingClub in a research report on Friday, June 7th. They issued a “buy” rating and a $12.00 price objective for the company. Finally, Piper Sandler reiterated an “overweight” rating and set a $10.00 target price (up previously from $9.50) on shares of LendingClub in a research report on Wednesday, May 1st.

Insider Buying and Selling

In other LendingClub news, Director Erin Selleck sold 4,083 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $8.88, for a total value of $36,257.04. Following the completion of the transaction, the director now directly owns 54,571 shares of the company’s stock, valued at $484,590.48. The sale was disclosed in a filing with the SEC, which is available at this link. 3.31% of the stock is owned by insiders.

Institutional Trading of LendingClub

Several large investors have recently bought and sold shares of LC. Nisa Investment Advisors LLC lifted its holdings in shares of LendingClub by 363.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,999 shares of the credit services provider’s stock valued at $61,000 after purchasing an additional 5,489 shares in the last quarter. EntryPoint Capital LLC lifted its stake in LendingClub by 44.9% in the 1st quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock valued at $66,000 after buying an additional 2,328 shares in the last quarter. Maltin Wealth Management Inc. acquired a new stake in LendingClub during the 4th quarter valued at $87,000. SG Americas Securities LLC grew its holdings in LendingClub by 16.3% during the 2nd quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock valued at $104,000 after buying an additional 1,732 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new position in LendingClub during the first quarter worth $129,000. Institutional investors and hedge funds own 74.08% of the company’s stock.

LendingClub Stock Performance

Shares of NYSE:LC opened at $10.38 on Monday. LendingClub has a one year low of $4.73 and a one year high of $10.90. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 30.53 and a beta of 2.06. The company has a 50-day simple moving average of $8.84 and a 200-day simple moving average of $8.55.

LendingClub (NYSE:LC) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $0.11 EPS for the quarter, beating the consensus estimate of $0.03 by $0.08. LendingClub had a return on equity of 3.04% and a net margin of 4.69%. The firm had revenue of $180.69 million during the quarter, compared to the consensus estimate of $174.52 million. During the same period in the prior year, the business earned $0.13 EPS. As a group, research analysts forecast that LendingClub will post 0.27 EPS for the current fiscal 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.