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

Piper Sandler reaffirmed their overweight rating on shares of LendingClub (NYSE:LC) in a research report released on Thursday, Benzinga reports. They currently have a $15.00 price target on the credit services provider’s stock, up from their prior price target of $13.00.

Other research analysts also recently issued research reports about the stock. 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 research report on Thursday, July 18th. Wedbush lifted their price objective on LendingClub from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. StockNews.com upgraded LendingClub from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Keefe, Bruyette & Woods raised LendingClub from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $11.50 to $15.00 in a research report on Thursday, October 10th. Finally, Compass Point upped their price target on shares of LendingClub from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.88.

LendingClub Stock Up 4.6 %

Shares of LendingClub stock traded up $0.63 on Thursday, reaching $14.45. The company’s stock had a trading volume of 510,739 shares, compared to its average volume of 1,437,026. LendingClub has a 52 week low of $4.73 and a 52 week high of $15.52. The firm’s fifty day simple moving average is $11.64 and its two-hundred day simple moving average is $9.98. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 41.41 and a beta of 2.04.

LendingClub (NYSE:LC) last released its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.07 by $0.06. The company had revenue of $201.90 million during the quarter, compared to the consensus estimate of $190.40 million. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. LendingClub’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the company earned $0.05 EPS. As a group, research analysts predict that LendingClub will post 0.38 EPS for the current year.

Insider Activity

In related news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $11.36, for a total value of $193,120.00. Following the completion of the sale, the chief executive officer now directly owns 1,373,273 shares of the company’s stock, valued at approximately $15,600,381.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 51,703 shares of company stock valued at $562,705 in the last ninety days. Corporate insiders own 3.31% of the company’s stock.

Institutional Investors Weigh In On LendingClub

A number of institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in LendingClub by 176.1% in 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 purchasing an additional 857,371 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of LendingClub by 120.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider’s stock valued at $17,351,000 after buying an additional 828,958 shares during the last quarter. Vanguard Group Inc. lifted its holdings 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 buying an additional 336,827 shares in the last quarter. American Century Companies Inc. boosted its position 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 worth $14,032,000 after acquiring an additional 329,279 shares during the last quarter. Finally, Interval Partners LP purchased a new position in LendingClub during the first quarter valued at $2,821,000. 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.