LendingClub (NYSE:LC) Earns Overweight Rating from Piper Sandler

LendingClub (NYSE:LC - Get Free Report)'s stock had its "overweight" rating reaffirmed by stock analysts at Piper Sandler in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $15.00 target price on the credit services provider's stock, up from their prior target price of $13.00. Piper Sandler's price objective would suggest a potential upside of 8.62% from the stock's current price.

A number of other research firms have also recently commented on LC. Keefe, Bruyette & Woods upgraded LendingClub from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $11.50 to $15.00 in a research report on Thursday, October 10th. Compass Point lifted their price target on LendingClub from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on LendingClub from $12.00 to $14.00 and gave the company an "overweight" rating in a report on Tuesday, August 20th. Wedbush lifted their target price on shares of LendingClub from $11.00 to $14.00 and gave the company an "outperform" rating in a report on Wednesday, July 31st. Finally, StockNews.com upgraded shares of LendingClub from a "sell" rating to a "hold" rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.29.

LendingClub Trading Up 10.8 %

Shares of LC stock traded up $1.35 on Thursday, reaching $13.81. 8,588,719 shares of the stock were exchanged, compared to its average volume of 1,442,114. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 40.62 and a beta of 2.04. The business's 50 day moving average price is $11.64 and its 200 day moving average price is $9.98. LendingClub has a twelve month low of $4.73 and a twelve month high of $15.52.

LendingClub (NYSE:LC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.06. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The firm had revenue of $201.90 million during the quarter, compared to the consensus estimate of $190.40 million. During the same period in the prior year, the company posted $0.05 earnings per share. The firm's quarterly revenue was up .5% compared to the same quarter last year. Equities research analysts forecast that LendingClub will post 0.38 earnings per share for the current year.

Insider Transactions at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of the firm's stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $10.25, for a total value of $174,250.00. Following the completion of the sale, the chief executive officer now directly owns 1,383,362 shares of the company's stock, valued at $14,179,460.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 51,703 shares of company stock worth $562,705 over the last ninety days. 3.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LendingClub

A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its holdings in LendingClub by 176.1% during the fourth quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider's stock worth $11,749,000 after purchasing an additional 857,371 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of LendingClub by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider's stock worth $98,502,000 after buying an additional 336,827 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in LendingClub in the 1st quarter valued at about $164,000. GSA Capital Partners LLP increased its holdings in LendingClub by 38.2% during the 1st quarter. GSA Capital Partners LLP now owns 143,839 shares of the credit services provider's stock valued at $1,264,000 after acquiring an additional 39,733 shares in the last quarter. Finally, Empowered Funds LLC raised its position in LendingClub by 8.2% during the first quarter. Empowered Funds LLC now owns 314,729 shares of the credit services provider's stock worth $2,766,000 after acquiring an additional 23,790 shares during the last quarter. Hedge funds and other 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.