LendingClub (NYSE:LC) Sets New 52-Week High - Still a Buy?

LendingClub Co. (NYSE:LC - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $17.84 and last traded at $17.68, with a volume of 1670083 shares changing hands. The stock had previously closed at $16.56.

Analysts Set New Price Targets

Several research firms recently issued reports on LC. Wedbush upped their price objective on shares of LendingClub from $14.00 to $17.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Maxim Group upped their price target on shares of LendingClub from $16.00 to $19.00 and gave the company a "buy" rating in a report on Friday, October 25th. StockNews.com lowered 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 target price (up previously from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. Finally, Keefe, Bruyette & Woods lifted their price target on LendingClub from $15.00 to $17.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $16.00.

LendingClub Stock Performance

The company has a market cap of $2.01 billion, a P/E ratio of 39.74 and a beta of 2.02. The stock has a 50-day simple moving average of $14.60 and a 200 day simple moving average of $11.71.

LendingClub (NYSE:LC - Get Free Report) last posted its earnings results 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. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The business had revenue of $201.90 million for the quarter, compared to analysts' expectations of $190.40 million. During the same quarter in the previous year, the firm posted $0.05 earnings per share. The firm's revenue for the quarter was up .5% on a year-over-year basis. Sell-side analysts anticipate that LendingClub Co. will post 0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at LendingClub

In other news, General Counsel Jordan Cheng sold 22,000 shares of the firm's stock in a transaction on Friday, November 8th. The stock was 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 directly owns 89,385 shares in the company, valued at approximately $1,325,579.55. This trade represents a 19.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John C. Morris sold 2,500 shares of LendingClub stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $14.36, for a total value of $35,900.00. Following the completion of the transaction, the director now directly owns 203,348 shares of the company's stock, valued at $2,920,077.28. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 75,500 shares of company stock worth $1,073,100 over the last three months. Company insiders own 3.31% of the company's stock.

Institutional Investors Weigh In On LendingClub

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its position in shares of LendingClub by 5.3% during the second quarter. International Assets Investment Management LLC now owns 19,900 shares of the credit services provider's stock worth $168,000 after acquiring an additional 1,000 shares during the last quarter. FMR LLC raised its holdings in LendingClub by 32.1% during the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider's stock worth $67,000 after purchasing an additional 1,424 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in 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 worth $2,562,000 after purchasing an additional 1,445 shares during the last quarter. SG Americas Securities LLC lifted its position in LendingClub by 16.3% during the 2nd quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider's stock valued at $104,000 after purchasing an additional 1,732 shares during the period. Finally, AlphaMark Advisors LLC bought a new position in shares of LendingClub in the 3rd quarter valued at about $32,000. Institutional investors and hedge funds 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.

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