LendingClub Co. (NYSE:LC) Receives Consensus Rating of "Buy" from Brokerages

Shares of LendingClub Co. (NYSE:LC - Get Free Report) have been assigned a consensus recommendation of "Buy" from the seven ratings firms that are covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued a report on the stock in the last year is $13.57.

A number of equities research analysts have recently weighed in on the company. Piper Sandler reissued an "overweight" rating and issued a $13.00 target price (up previously from $10.00) on shares of LendingClub in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on LendingClub from $12.00 to $14.00 and gave the company an "overweight" rating in a research note on Tuesday, August 20th. Keefe, Bruyette & Woods raised LendingClub from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $11.50 to $15.00 in a research note on Thursday, October 10th. Jefferies Financial Group boosted their target price on LendingClub from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Thursday, July 18th. Finally, Wedbush upped their price target on LendingClub from $11.00 to $14.00 and gave the company an "outperform" rating in a research report on Wednesday, July 31st.

LendingClub Stock Performance

LendingClub stock traded up $0.06 during midday trading on Wednesday, hitting $12.47. 2,540,910 shares of the company's stock were exchanged, compared to its average volume of 1,406,801. LendingClub has a 52-week low of $4.73 and a 52-week high of $13.63. The stock has a 50-day moving average price of $11.55 and a two-hundred day moving average price of $9.94. The company has a market cap of $1.39 billion, a P/E ratio of 36.47 and a beta of 2.04.

LendingClub (NYSE:LC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.09. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The firm had revenue of $187.20 million during the quarter, compared to analysts' expectations of $177.03 million. During the same period in the prior year, the business earned $0.09 EPS. The company's revenue for the quarter was down 19.5% compared to the same quarter last year. As a group, sell-side analysts expect that LendingClub will post 0.38 earnings per share for the current year.

Insider Buying and Selling at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,356,273 shares in the company, valued at approximately $15,041,067.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 51,703 shares of company stock valued at $562,705 in the last 90 days. Insiders own 3.31% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LC. Wellington Management Group LLP grew its holdings in shares of LendingClub by 176.1% during the 4th quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider's stock worth $11,749,000 after acquiring an additional 857,371 shares during the period. Assenagon Asset Management S.A. boosted its holdings in LendingClub by 120.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider's stock worth $17,351,000 after acquiring an additional 828,958 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of LendingClub by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider's stock worth $98,502,000 after acquiring an additional 336,827 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of LendingClub by 24.8% during the second quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider's stock valued at $14,032,000 after acquiring an additional 329,279 shares in the last quarter. Finally, Interval Partners LP purchased a new position in shares of LendingClub in the 1st quarter worth about $2,821,000. Hedge funds and other 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.