LendingClub (NYSE:LC) PT Raised to $15.00

LendingClub (NYSE:LC) had its price target hoisted by Compass Point from $13.00 to $15.00 in a research note published on Wednesday, Benzinga reports. Compass Point currently has a buy rating on the credit services provider’s stock.

A number of other analysts have also recently commented on the company. BTIG Research started coverage on LendingClub in a research report on Friday, June 7th. They set a buy rating and a $12.00 price objective for the company. Keefe, Bruyette & Woods increased their price objective on shares of LendingClub from $10.00 to $11.50 and gave the stock a market perform rating in a research note on Wednesday. Piper Sandler reissued an overweight rating and issued a $10.00 price objective (up previously from $9.50) on shares of LendingClub in a report on Wednesday, May 1st. Wedbush reaffirmed an outperform rating and set a $11.00 target price on shares of LendingClub in a report on Wednesday, May 1st. Finally, Jefferies Financial Group lifted their price target on shares of LendingClub from $11.00 to $12.00 and gave the stock a buy rating in a research note on Thursday, July 18th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $12.64.

LendingClub Stock Down 6.8 %

Shares of NYSE LC opened at $10.64 on Wednesday. The firm’s 50-day moving average price is $9.19 and its 200-day moving average price is $8.73. LendingClub has a 52-week low of $4.73 and a 52-week high of $12.87. The company has a market cap of $1.18 billion, a PE ratio of 31.29 and a beta of 2.06.

LendingClub (NYSE:LC) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.09. LendingClub had a net margin of 5.61% and a return on equity of 3.41%. The company had revenue of $187.20 million for the quarter, compared to analysts’ expectations of $177.03 million. The firm’s quarterly revenue was down 19.5% on a year-over-year basis. During the same quarter last year, the company posted $0.09 earnings per share. As a group, equities research analysts anticipate that LendingClub will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling at LendingClub

In other news, Director Erin Selleck sold 4,083 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $8.88, for a total value of $36,257.04. Following the completion of the sale, the director now directly owns 54,571 shares of the company’s stock, valued at $484,590.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On LendingClub

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC boosted its stake in LendingClub by 64.2% in the 4th quarter. SG Americas Securities LLC now owns 42,244 shares of the credit services provider’s stock worth $369,000 after purchasing an additional 16,519 shares during the period. Miracle Mile Advisors LLC lifted its holdings in shares of LendingClub by 9.0% in the fourth quarter. Miracle Mile Advisors LLC now owns 24,134 shares of the credit services provider’s stock worth $211,000 after buying an additional 2,000 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of LendingClub by 617.9% during the fourth quarter. International Assets Investment Management LLC now owns 265,696 shares of the credit services provider’s stock worth $2,322,000 after acquiring an additional 228,684 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in LendingClub by 2.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 221,735 shares of the credit services provider’s stock valued at $1,938,000 after acquiring an additional 6,009 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in LendingClub by 363.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,999 shares of the credit services provider’s stock valued at $61,000 after acquiring an additional 5,489 shares during the last quarter. 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.