LendingClub (NYSE:LC) Given New $19.00 Price Target at Maxim Group

LendingClub (NYSE:LC) had its price target increased by Maxim Group from $16.00 to $19.00 in a research note released on Friday morning, Marketbeat.com reports. The firm currently has a buy rating on the credit services provider’s stock.

Several other brokerages have also recently weighed in on LC. Wedbush raised their target price on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a report on Thursday. StockNews.com raised LendingClub from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Keefe, Bruyette & Woods raised LendingClub from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $11.50 to $15.00 in a report on Thursday, October 10th. Jefferies Financial Group increased their price objective on LendingClub from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. boosted their target price on LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $15.38.

LendingClub Price Performance

Shares of LC stock traded down $0.23 during trading on Friday, reaching $13.59. The company’s stock had a trading volume of 2,429,146 shares, compared to its average volume of 1,446,909. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 35.76 and a beta of 2.04. LendingClub has a 1-year low of $4.73 and a 1-year high of $15.52. The stock’s 50-day moving average price is $11.69 and its 200 day moving average price is $10.02.

LendingClub (NYSE:LC) last posted its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The business had revenue of $201.90 million for the quarter, compared to analyst estimates of $190.40 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. The company’s revenue was up .5% on a year-over-year basis. On average, sell-side analysts anticipate that LendingClub will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling at LendingClub

In related news, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $11.36, for a total transaction of $193,120.00. Following the transaction, the chief executive officer now owns 1,373,273 shares of the company’s stock, valued at $15,600,381.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders have sold 51,703 shares of company stock worth $562,705. 3.31% of the stock is owned by company insiders.

Institutional Trading of LendingClub

Institutional investors have recently added to or reduced their stakes in the stock. AlphaMark Advisors LLC purchased a new stake in LendingClub during the third quarter worth $32,000. EntryPoint Capital LLC boosted its position in shares of LendingClub by 44.9% in the 1st quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock worth $66,000 after buying an additional 2,328 shares in the last quarter. nVerses Capital LLC acquired a new stake in LendingClub in the 2nd quarter valued at about $71,000. Innealta Capital LLC purchased a new position in LendingClub during the 2nd quarter valued at about $72,000. Finally, Blue Trust Inc. raised its position in LendingClub by 259.8% during the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after acquiring an additional 5,247 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.