LendingClub (NYSE:LC) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of LendingClub (NYSE:LC) from a sell rating to a hold rating in a research note published on Thursday morning.

LC has been the subject of a number of other reports. Piper Sandler restated an overweight rating and issued a $13.00 price objective (up from $10.00) on shares of LendingClub in a report on Wednesday, July 31st. Keefe, Bruyette & Woods lifted their price objective on LendingClub from $10.00 to $11.50 and gave the stock a market perform rating in a research note on Wednesday, July 31st. Wedbush upped their target price on LendingClub from $11.00 to $14.00 and gave the company an outperform rating in a report on Wednesday, July 31st. Jefferies Financial Group raised their price target on shares of LendingClub from $11.00 to $12.00 and gave the stock a buy rating in a report on Thursday, July 18th. Finally, Compass Point upped their price objective on shares of LendingClub from $13.00 to $15.00 and gave the company a buy rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $12.64.

LendingClub Price Performance

Shares of NYSE:LC opened at $10.64 on Thursday. LendingClub has a 1 year low of $4.73 and a 1 year high of $12.87. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 31.29 and a beta of 2.06. The company’s 50 day simple moving average is $9.19 and its 200 day simple moving average is $8.74.

LendingClub (NYSE:LC) last released its earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. The firm had revenue of $187.20 million for the quarter, compared to analysts’ expectations of $177.03 million. LendingClub had a return on equity of 3.41% and a net margin of 5.61%. During the same quarter in the previous year, the business posted $0.09 earnings per share. The business’s revenue for the quarter was down 19.5% on a year-over-year basis. As a group, analysts anticipate that LendingClub will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling at LendingClub

In related news, Director Erin Selleck sold 4,083 shares of LendingClub stock in a transaction on Friday, May 31st. The stock was sold at an average price of $8.88, for a total transaction of $36,257.04. Following the sale, the director now directly owns 54,571 shares in the company, valued at $484,590.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On LendingClub

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of LendingClub by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 11,446,014 shares of the credit services provider’s stock valued at $100,610,000 after buying an additional 175,706 shares in the last quarter. Jackson Square Partners LLC grew its position in LendingClub by 5.9% during the fourth quarter. Jackson Square Partners LLC now owns 9,723,943 shares of the credit services provider’s stock valued at $84,987,000 after acquiring an additional 541,538 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of LendingClub by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,652,580 shares of the credit services provider’s stock worth $40,664,000 after acquiring an additional 73,515 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of LendingClub by 176.1% in the 4th quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock valued at $11,749,000 after purchasing an additional 857,371 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of LendingClub by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 848,315 shares of the credit services provider’s stock valued at $7,414,000 after purchasing an additional 16,298 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.