Brokerages Set LendingClub Co. (NYSE:LC) Target Price at $15.38

LendingClub Co. (NYSE:LC - Get Free Report) has been assigned a consensus recommendation of "Buy" from the eight research firms that are presently covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $15.38.

LC has been the subject of several recent research reports. Keefe, Bruyette & Woods raised shares of LendingClub from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $11.50 to $15.00 in a research report on Thursday, October 10th. Piper Sandler reissued an "overweight" rating and set a $15.00 price objective (up from $13.00) on shares of LendingClub in a report on Thursday, October 24th. StockNews.com lowered LendingClub from a "hold" rating to a "sell" rating in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price target on LendingClub from $12.00 to $14.00 and gave the stock an "overweight" rating in a report on Tuesday, August 20th. Finally, Compass Point raised their price objective on LendingClub from $15.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, October 25th.

LendingClub Stock Performance

Shares of LendingClub stock opened at $14.92 on Friday. The stock has a market capitalization of $1.68 billion, a PE ratio of 32.43 and a beta of 2.01. LendingClub has a 52 week low of $5.38 and a 52 week high of $16.16. The stock has a 50 day moving average price of $12.59 and a two-hundred day moving average price of $10.71.

LendingClub (NYSE:LC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate 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 6.85% and a return on equity of 4.02%. During the same quarter last year, the firm posted $0.05 EPS. LendingClub's revenue was up .5% compared to the same quarter last year. Research analysts forecast that LendingClub will post 0.47 EPS for the current year.

Insiders Place Their Bets

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $11.09, for a total transaction of $188,530.00. Following the completion of the transaction, the chief executive officer now directly owns 1,356,273 shares of the company's stock, valued at approximately $15,041,067.57. This represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Jordan Cheng sold 22,000 shares of the business's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $14.83, for a total value of $326,260.00. Following the completion of the sale, the general counsel now owns 89,385 shares in the company, valued at approximately $1,325,579.55. The trade was a 19.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,500 shares of company stock valued at $996,940. Insiders own 3.31% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LC. International Assets Investment Management LLC raised its holdings in LendingClub by 5.3% during the 2nd quarter. International Assets Investment Management LLC now owns 19,900 shares of the credit services provider's stock valued at $168,000 after acquiring an additional 1,000 shares during the period. FMR LLC grew its position in shares of LendingClub by 32.1% in the third quarter. FMR LLC now owns 5,865 shares of the credit services provider's stock valued at $67,000 after purchasing an additional 1,424 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of LendingClub by 0.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 302,844 shares of the credit services provider's stock valued at $2,562,000 after purchasing an additional 1,445 shares during the period. ProShare Advisors LLC lifted its holdings in LendingClub by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 19,518 shares of the credit services provider's stock worth $172,000 after purchasing an additional 1,536 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in LendingClub by 16.3% in the 2nd quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider's stock worth $104,000 after purchasing an additional 1,732 shares during the period. 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.