LendingClub Co. (NYSE:LC) Receives $16.00 Average Price Target from Brokerages

LendingClub Co. (NYSE:LC) has received a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $16.00.

A number of analysts have weighed in on the stock. StockNews.com lowered shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. restated a “neutral” rating and set a $17.00 price objective (up from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. Compass Point raised their price objective on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Maxim Group raised their price objective on shares of LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Wedbush lifted their price target on shares of LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th.

LendingClub Price Performance

Shares of LendingClub stock opened at $17.91 on Thursday. The company has a 50-day moving average of $14.60 and a 200 day moving average of $11.71. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 39.74 and a beta of 2.02. LendingClub has a 1 year low of $7.48 and a 1 year high of $18.31.

LendingClub (NYSE:LC) last released its quarterly earnings data 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 business had revenue of $201.90 million during the quarter, compared to analyst estimates of $190.40 million. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. LendingClub’s revenue was up .5% compared to the same quarter last year. During the same period last year, the business earned $0.05 EPS. On average, equities analysts anticipate that LendingClub will post 0.47 EPS for the current year.

Insider Transactions at LendingClub

In related news, Director John C. Morris sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $14.36, for a total transaction of $35,900.00. Following the completion of the sale, the director now directly owns 203,348 shares in the company, valued at approximately $2,920,077.28. The trade was a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $15.84, for a total transaction of $269,280.00. Following the sale, the chief executive officer now owns 1,329,184 shares of the company’s stock, valued at $21,054,274.56. This trade represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,500 shares of company stock worth $1,073,100 over the last three months. 3.31% of the stock is currently owned by company insiders.

Institutional Trading of LendingClub

Several large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in shares of LendingClub by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock worth $49,901,000 after purchasing an additional 300,536 shares during the period. State Street Corp boosted its position in shares of LendingClub by 2.2% in the third quarter. State Street Corp now owns 3,896,816 shares of the credit services provider’s stock worth $44,541,000 after purchasing an additional 82,315 shares during the period. Geode Capital Management LLC boosted its position in shares of LendingClub by 1.7% in the third quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider’s stock worth $29,265,000 after purchasing an additional 42,429 shares during the period. American Century Companies Inc. boosted its position in shares of LendingClub by 24.8% in the second quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock worth $14,032,000 after purchasing an additional 329,279 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in shares of LendingClub by 98.1% in the third quarter. Point72 Asset Management L.P. now owns 1,547,342 shares of the credit services provider’s stock worth $17,686,000 after purchasing an additional 766,287 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.