LendingClub Co. (NYSE:LC) Receives $11.30 Consensus Price Target from Analysts

LendingClub Co. (NYSE:LC) has earned an average rating of “Moderate Buy” from the five brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $11.42.

Several research firms recently commented on LC. Piper Sandler restated an “overweight” rating and set a $10.00 price target (up from $9.50) on shares of LendingClub in a report on Wednesday, May 1st. Keefe, Bruyette & Woods boosted their price target 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. Wedbush reiterated an “outperform” rating and set a $11.00 price objective on shares of LendingClub in a report on Wednesday, May 1st. Finally, StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd.

LendingClub Stock Down 1.7 %

Shares of NYSE:LC opened at $9.00 on Wednesday. The company has a market cap of $999.52 million, a P/E ratio of 26.46 and a beta of 2.00. The company’s fifty day moving average is $8.26 and its two-hundred day moving average is $7.73. LendingClub has a 12-month low of $4.73 and a 12-month high of $10.92.

LendingClub (NYSE:LC) last posted its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $0.11 earnings per share 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 for the quarter, compared to analyst estimates of $174.52 million. During the same period in the previous year, the firm earned $0.13 earnings per share. Equities research analysts anticipate that LendingClub will post 0.26 earnings per share for the current year.

Hedge Funds Weigh In On LendingClub

Several institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB increased its holdings in shares of LendingClub by 190.8% during the 3rd quarter. Nordea Investment Management AB now owns 609,966 shares of the credit services provider’s stock valued at $3,733,000 after acquiring an additional 400,189 shares during the last quarter. Wellington Management Group LLP acquired a new position in LendingClub during the third quarter valued at approximately $2,970,000. Quantbot Technologies LP bought a new position in shares of LendingClub in the third quarter valued at approximately $643,000. Asset Management One Co. Ltd. lifted its stake in shares of LendingClub by 40.7% in the third quarter. Asset Management One Co. Ltd. now owns 8,217 shares of the credit services provider’s stock worth $50,000 after buying an additional 2,377 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of LendingClub by 39.4% during the 3rd quarter. Principal Financial Group Inc. now owns 15,761 shares of the credit services provider’s stock worth $96,000 after buying an additional 4,455 shares during the period. 74.08% of the stock is currently owned by institutional investors.

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.