LendingClub Co. (NYSE:LC) Receives $13.07 Consensus Target Price from Analysts

Shares of LendingClub Co. (NYSE:LC) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $13.07.

Several equities analysts recently issued reports on LC shares. BTIG Research started coverage on shares of LendingClub in a report on Friday, June 7th. They set a “buy” rating and a $12.00 price objective on the stock. StockNews.com raised shares of LendingClub from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. 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 report on Thursday, July 18th. Keefe, Bruyette & Woods lifted their price target on shares of LendingClub from $10.00 to $11.50 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 price target (up from $10.00) on shares of LendingClub in a report on Wednesday, July 31st.

Insider Transactions at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $11.36, for a total transaction of $193,120.00. Following the completion of the sale, the chief executive officer now directly owns 1,373,273 shares in the company, valued at approximately $15,600,381.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 51,703 shares of company stock worth $562,705. Company insiders own 3.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LC. Charles Schwab Investment Management Inc. lifted its position in LendingClub by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 848,315 shares of the credit services provider’s stock valued at $7,414,000 after purchasing an additional 16,298 shares during the period. Dimensional Fund Advisors LP lifted its position in LendingClub by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,652,580 shares of the credit services provider’s stock valued at $40,664,000 after purchasing an additional 73,515 shares during the period. Belpointe Asset Management LLC acquired a new position in LendingClub during the fourth quarter valued at $131,000. Verition Fund Management LLC purchased a new position in LendingClub in the fourth quarter valued at $6,115,000. Finally, Cruiser Capital Advisors LLC purchased a new position in LendingClub in the fourth quarter valued at $143,000. 74.08% of the stock is currently owned by institutional investors and hedge funds.

LendingClub Stock Up 3.4 %

Shares of LC stock opened at $11.59 on Friday. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 34.09 and a beta of 2.04. The company’s 50 day moving average is $11.14 and its 200 day moving average is $9.59. LendingClub has a 52-week low of $4.73 and a 52-week high of $12.87.

LendingClub (NYSE:LC) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.09. The company had revenue of $187.20 million for the quarter, compared to analyst estimates of $177.03 million. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. LendingClub’s revenue was down 19.5% compared to the same quarter last year. During the same period last year, the company posted $0.09 earnings per share. Analysts anticipate that LendingClub will post 0.38 EPS for the current fiscal 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.