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

Shares of LendingClub Co. (NYSE:LC) have received a consensus recommendation of “Moderate Buy” from the five research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $11.42.

LC has been the subject of a number of recent analyst reports. Piper Sandler reissued an “overweight” rating and issued a $10.00 price objective (up previously from $9.50) on shares of LendingClub in a research report on Wednesday, May 1st. Keefe, Bruyette & Woods raised their price target on LendingClub from $9.50 to $10.00 and gave the stock a “market perform” rating in a report on Wednesday, May 1st. StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. Finally, Wedbush reiterated an “outperform” rating and issued a $11.00 target price on shares of LendingClub in a research note on Wednesday, May 1st.

Institutional Investors Weigh In On LendingClub

A number of institutional investors and hedge funds have recently modified their holdings of LC. Asset Management One Co. Ltd. boosted its holdings in 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 valued at $50,000 after purchasing an additional 2,377 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of LendingClub by 363.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,999 shares of the credit services provider’s stock worth $61,000 after buying an additional 5,489 shares during the last quarter. Pathstone Family Office LLC purchased a new stake in shares of LendingClub in the third quarter worth about $65,000. Maltin Wealth Management Inc. acquired a new stake in LendingClub during the fourth quarter worth about $87,000. Finally, Acadian Asset Management LLC purchased a new position in LendingClub during the third quarter valued at approximately $91,000. Institutional investors and hedge funds own 74.08% of the company’s stock.

LendingClub Stock Performance

NYSE:LC opened at $9.28 on Wednesday. The stock has a market capitalization of $1.03 billion, a P/E ratio of 27.29 and a beta of 2.00. The company’s 50-day simple moving average is $8.23 and its 200-day simple moving average is $7.67. LendingClub has a fifty-two week low of $4.73 and a fifty-two week high of $10.92.

LendingClub (NYSE:LC) last announced its 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. The company had revenue of $180.69 million during the quarter, compared to the consensus estimate of $174.52 million. LendingClub had a net margin of 4.69% and a return on equity of 3.04%. During the same period last year, the firm earned $0.13 earnings per share. On average, research analysts forecast that LendingClub will post 0.26 EPS for the current year.

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.