LendingClub Co. (NYSE:LC) Receives $16.63 Consensus Price Target from Brokerages

LendingClub Co. (NYSE:LC) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the stock, 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.

Several analysts have issued reports on the company. StockNews.com lowered LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods boosted their price objective on LendingClub from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Maxim Group upped their price objective on shares of LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. Piper Sandler lifted their target price on shares of LendingClub from $15.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Finally, Wedbush upped their price target on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th.

Insider Activity

In other LendingClub news, General Counsel Jordan Cheng sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $14.83, for a total value of $326,260.00. Following the completion of the transaction, the general counsel now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total transaction of $274,040.00. Following the sale, the chief executive officer now owns 1,312,184 shares in the company, valued at approximately $21,152,406.08. This trade represents a 1.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,500 shares of company stock worth $1,158,610 in the last three months. Corporate insiders own 3.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of LendingClub by 32.1% during the third quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock worth $67,000 after acquiring an additional 1,424 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in LendingClub by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 302,844 shares of the credit services provider’s stock worth $2,562,000 after purchasing an additional 1,445 shares during the period. AlphaMark Advisors LLC purchased a new position in LendingClub in the 3rd quarter worth $32,000. Hsbc Holdings PLC lifted its stake in LendingClub by 38.3% in the second quarter. Hsbc Holdings PLC now owns 16,748 shares of the credit services provider’s stock worth $141,000 after purchasing an additional 4,640 shares during the last quarter. Finally, Aigen Investment Management LP boosted its position in LendingClub by 18.5% during the third quarter. Aigen Investment Management LP now owns 31,542 shares of the credit services provider’s stock valued at $361,000 after buying an additional 4,917 shares during the period. Institutional investors own 74.08% of the company’s stock.

LendingClub Stock Performance

LC opened at $15.00 on Monday. LendingClub has a fifty-two week low of $7.48 and a fifty-two week high of $18.75. The firm has a 50-day moving average of $16.02 and a 200 day moving average of $12.87. The firm has a market cap of $1.69 billion, a P/E ratio of 32.61 and a beta of 2.03.

LendingClub (NYSE:LC) last released its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. The firm had revenue of $201.90 million during the quarter, compared to the consensus estimate of $190.40 million. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The company’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 EPS. Equities research analysts predict that LendingClub will post 0.47 earnings per share 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.