LendingClub Corporation (NYSE:LC) Receives Average Recommendation of “Moderate Buy” from Analysts

LendingClub Corporation (NYSE:LC) has earned an average rating of “Moderate Buy” from the eleven research firms that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $16.5714.

Several brokerages have issued reports on LC. Keefe, Bruyette & Woods raised their price target on LendingClub from $14.00 to $16.50 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Zacks Research downgraded LendingClub from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Piper Sandler set a $15.50 price target on LendingClub and gave the company an “overweight” rating in a report on Wednesday, July 30th. Citigroup began coverage on LendingClub in a report on Monday, July 7th. They set a “market perform” rating for the company. Finally, Wall Street Zen raised LendingClub from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd.

LendingClub Trading Up 4.6%

NYSE:LC opened at $16.04 on Wednesday. LendingClub has a 1-year low of $7.90 and a 1-year high of $18.75. The firm has a fifty day simple moving average of $16.14 and a 200 day simple moving average of $12.90. The stock has a market capitalization of $1.84 billion, a PE ratio of 25.06 and a beta of 2.48.

LendingClub (NYSE:LC) last released its earnings results on Tuesday, July 29th. The credit services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.18. LendingClub had a net margin of 8.36% and a return on equity of 5.66%. The business had revenue of $248.44 million during the quarter, compared to analysts’ expectations of $227.04 million. During the same period last year, the business earned $0.13 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. On average, equities analysts predict that LendingClub will post 0.72 earnings per share for the current fiscal year.

Insider Transactions at LendingClub

In other news, CEO Scott Sanborn sold 30,000 shares of LendingClub stock in a transaction on Monday, September 15th. The stock was sold at an average price of $17.04, for a total transaction of $511,200.00. Following the completion of the sale, the chief executive officer owned 1,240,070 shares of the company’s stock, valued at approximately $21,130,792.80. This trade represents a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew Labenne sold 20,903 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $17.04, for a total value of $356,187.12. Following the completion of the transaction, the chief financial officer directly owned 181,750 shares of the company’s stock, valued at approximately $3,097,020. This trade represents a 10.31% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,498 shares of company stock valued at $1,774,183. 3.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Quarry LP raised its stake in LendingClub by 1,427.2% during the first quarter. Quarry LP now owns 2,810 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 2,626 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in LendingClub during the first quarter worth about $35,000. Headlands Technologies LLC acquired a new position in LendingClub during the second quarter worth about $53,000. KBC Group NV acquired a new position in LendingClub during the first quarter worth about $67,000. Finally, Asset Management One Co. Ltd. raised its stake in LendingClub by 95.4% during the first quarter. Asset Management One Co. Ltd. now owns 9,526 shares of the credit services provider’s stock worth $98,000 after acquiring an additional 4,651 shares in the last quarter. Institutional investors and hedge funds 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.