LendingClub Co. (NYSE:LC) Given Consensus Rating of “Buy” by Analysts

Shares of LendingClub Co. (NYSE:LC) have been assigned a consensus recommendation of “Buy” from the eight research firms that are covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $15.38.

Several brokerages have recently weighed in on LC. Jefferies Financial Group raised their price target on LendingClub from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Piper Sandler restated an “overweight” rating and set a $15.00 price objective (up from $13.00) on shares of LendingClub in a research note on Thursday. Keefe, Bruyette & Woods upgraded shares of LendingClub from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $11.50 to $15.00 in a research note on Thursday, October 10th. Compass Point raised their price target on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday. Finally, JPMorgan Chase & Co. upped their price objective on LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th.

LendingClub Price Performance

Shares of NYSE LC opened at $13.59 on Wednesday. LendingClub has a 1 year low of $4.73 and a 1 year high of $15.52. The firm has a 50-day moving average of $11.69 and a 200 day moving average of $10.02. The stock has a market cap of $1.52 billion, a P/E ratio of 35.76 and a beta of 2.04.

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

Insider Buying and Selling

In other news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $10.25, for a total transaction of $174,250.00. Following the transaction, the chief executive officer now directly owns 1,383,362 shares of the company’s stock, valued at $14,179,460.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 51,703 shares of company stock worth $562,705. 3.31% of the stock is owned by insiders.

Institutional Investors Weigh In On LendingClub

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its position in LendingClub by 176.1% in the fourth quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock worth $11,749,000 after acquiring an additional 857,371 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of LendingClub by 120.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider’s stock worth $17,351,000 after purchasing an additional 828,958 shares in the last quarter. Vanguard Group Inc. raised its holdings in LendingClub by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock worth $98,502,000 after purchasing an additional 336,827 shares during the period. American Century Companies Inc. lifted its position in LendingClub by 24.8% during the second quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock valued at $14,032,000 after purchasing an additional 329,279 shares in the last quarter. Finally, Interval Partners LP bought a new stake in LendingClub during the first quarter valued at about $2,821,000. Hedge funds and other institutional investors own 74.08% of the company’s stock.

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.