LendingClub (NYSE:LC) Given New $19.00 Price Target at Compass Point

LendingClub (NYSE:LC - Get Free Report) had its price objective increased by equities research analysts at Compass Point from $15.00 to $19.00 in a research report issued on Friday, Benzinga reports. The firm presently has a "buy" rating on the credit services provider's stock. Compass Point's price target would indicate a potential upside of 39.81% from the company's current price.

Other analysts have also recently issued reports about the stock. Wedbush increased their price target on shares of LendingClub from $14.00 to $17.00 and gave the company an "outperform" rating in a research note on Thursday. JPMorgan Chase & Co. increased their price objective on shares of LendingClub from $12.00 to $14.00 and gave the company an "overweight" rating in a report on Tuesday, August 20th. Piper Sandler restated an "overweight" rating and issued a $15.00 price objective (up from $13.00) on shares of LendingClub in a report on Thursday. StockNews.com upgraded shares of LendingClub from a "sell" rating to a "hold" rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group increased their price objective on shares of LendingClub from $11.00 to $12.00 and gave the company a "buy" rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, LendingClub currently has an average rating of "Moderate Buy" and a consensus price target of $15.38.

LendingClub Stock Performance

LendingClub stock traded down $0.23 during trading hours on Friday, hitting $13.59. 2,407,502 shares of the stock were exchanged, compared to its average volume of 1,446,909. The stock has a market capitalization of $1.52 billion, a P/E ratio of 35.76 and a beta of 2.04. LendingClub has a 12 month low of $4.73 and a 12 month high of $15.52. The business's 50-day moving average is $11.69 and its two-hundred day moving average is $10.02.

LendingClub (NYSE:LC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.06. The firm had revenue of $201.90 million for the quarter, compared to analysts' expectations of $190.40 million. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. The company's quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share. On average, equities analysts predict that LendingClub will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Scott Sanborn sold 17,000 shares of the firm's 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 sale, the chief executive officer now directly owns 1,373,273 shares in the company, valued at $15,600,381.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 51,703 shares of company stock worth $562,705 over the last ninety days. Company insiders own 3.31% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of LendingClub by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 11,446,014 shares of the credit services provider's stock worth $100,610,000 after buying an additional 175,706 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of LendingClub by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider's stock worth $49,901,000 after buying an additional 300,536 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of LendingClub by 24.8% during the 2nd quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider's stock worth $14,032,000 after buying an additional 329,279 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of LendingClub by 120.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider's stock worth $17,351,000 after buying an additional 828,958 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of LendingClub by 3.3% during the 2nd quarter. Bank of Montreal Can now owns 782,627 shares of the credit services provider's stock worth $6,621,000 after buying an additional 24,927 shares during the last quarter. Institutional investors own 74.08% of the company's stock.

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.