LendingClub Co. (NYSE:LC) Receives Consensus Recommendation of “Buy” from Analysts

LendingClub Co. (NYSE:LC) has been assigned an average recommendation of “Buy” from the eight ratings firms that are covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued a report on the stock in the last year is $15.38.

A number of analysts recently issued reports on LC shares. Wedbush increased their target price on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods raised shares of LendingClub from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $11.50 to $15.00 in a research report on Thursday, October 10th. Maxim Group raised their price objective on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $15.00 price target (up from $13.00) on shares of LendingClub in a research report on Thursday, October 24th.

Insider Transactions at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $11.09, for a total transaction of $188,530.00. Following the sale, the chief executive officer now directly owns 1,356,273 shares in the company, valued at $15,041,067.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 51,703 shares of company stock valued at $562,705. 3.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LendingClub

Institutional investors have recently modified their holdings of the business. AlphaMark Advisors LLC acquired a new position in LendingClub in the 3rd quarter valued at approximately $32,000. EntryPoint Capital LLC raised its holdings in shares of LendingClub by 44.9% in the 1st quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock worth $66,000 after acquiring an additional 2,328 shares during the last quarter. nVerses Capital LLC bought a new stake in LendingClub during the second quarter worth $71,000. Innealta Capital LLC bought a new position in shares of LendingClub during the 2nd quarter worth approximately $72,000. Finally, Blue Trust Inc. boosted its holdings in shares of LendingClub by 259.8% in the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after buying an additional 5,247 shares during the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.

LendingClub Trading Down 0.6 %

Shares of NYSE LC opened at $14.15 on Wednesday. The company has a market cap of $1.57 billion, a PE ratio of 41.60 and a beta of 2.04. The company has a 50-day moving average of $11.81 and a two-hundred day moving average of $10.12. LendingClub has a 1-year low of $4.98 and a 1-year high of $15.52.

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 analysts’ consensus estimates of $0.07 by $0.06. The business had revenue of $201.90 million during the quarter, compared to the consensus estimate of $190.40 million. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. LendingClub’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 earnings per share. As a group, equities research analysts forecast that LendingClub will post 0.39 earnings per share for the current year.

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.