LendingClub Co. (NYSE:LC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

LendingClub Co. (NYSE:LC) has been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $16.63.

LC has been the topic of a number of recent analyst reports. 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 research note on Friday, October 25th. StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Compass Point lifted their price target on LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods increased their price objective on LendingClub from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler lifted their target price on LendingClub from $15.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd.

LendingClub Trading Down 5.8 %

Shares of LC opened at $15.00 on Monday. The firm has a market cap of $1.69 billion, a PE ratio of 32.61 and a beta of 2.03. LendingClub has a 12 month low of $7.48 and a 12 month high of $18.75. The stock has a fifty day moving average price of $16.02 and a 200-day moving average price of $12.80.

LendingClub (NYSE:LC) last issued its quarterly earnings results 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. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The business had revenue of $201.90 million during the quarter, compared to the consensus estimate of $190.40 million. During the same quarter last year, the company earned $0.05 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. As a group, research analysts forecast that LendingClub will post 0.47 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Jordan Cheng sold 22,000 shares of LendingClub stock in a transaction that occurred 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 sale, the general counsel now directly owns 89,385 shares of the company’s stock, valued at $1,325,579.55. The trade was a 19.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John C. Morris sold 2,500 shares of LendingClub stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $14.36, for a total transaction of $35,900.00. Following the sale, the director now directly owns 203,348 shares in the company, valued at approximately $2,920,077.28. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,500 shares of company stock worth $1,158,610. Corporate insiders own 3.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in LendingClub by 5.4% during the second 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 period. State Street Corp lifted its holdings in shares of LendingClub by 2.2% in the 3rd quarter. State Street Corp now owns 3,896,816 shares of the credit services provider’s stock worth $44,541,000 after acquiring an additional 82,315 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of LendingClub by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider’s stock worth $29,265,000 after purchasing an additional 42,429 shares during the period. American Century Companies Inc. increased its holdings in LendingClub by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock valued at $14,032,000 after purchasing an additional 329,279 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in LendingClub by 98.1% in the third quarter. Point72 Asset Management L.P. now owns 1,547,342 shares of the credit services provider’s stock valued at $17,686,000 after purchasing an additional 766,287 shares during the period. 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.