LendingClub (LC) – Analysts’ Weekly Ratings Updates

LendingClub (NYSE: LC) recently received a number of ratings updates from brokerages and research firms:

• 10/25/2024 – LendingClub was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 10/25/2024 – LendingClub had its price target raised by analysts at Compass Point from $15.00 to $19.00. They now have a “buy” rating on the stock.
• 10/25/2024 – LendingClub had its price target raised by analysts at Maxim Group from $16.00 to $19.00. They now have a “buy” rating on the stock.
• 10/24/2024 – LendingClub had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $15.00 price target on the stock, up previously from $13.00.
• 10/24/2024 – LendingClub had its price target raised by analysts at Wedbush from $14.00 to $17.00. They now have an “outperform” rating on the stock.
• 10/10/2024 – LendingClub was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating. They now have a $15.00 price target on the stock, up previously from $11.50.

LendingClub Trading Up 10.2 %

LendingClub stock traded up $1.43 during midday trading on Wednesday, hitting $15.43. 4,301,882 shares of the stock were exchanged, compared to its average volume of 1,476,084. The stock’s 50-day simple moving average is $12.02 and its 200 day simple moving average is $10.35. LendingClub Co. has a fifty-two week low of $5.05 and a fifty-two week high of $15.72. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 33.54 and a beta of 2.01.

LendingClub (NYSE:LC) last announced its 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 net margin of 6.85% and a return on equity of 4.02%. The company had revenue of $201.90 million during the quarter, compared to analyst estimates of $190.40 million. During the same quarter last year, the firm posted $0.05 earnings per share. LendingClub’s revenue was up .5% compared to the same quarter last year. Equities analysts anticipate that LendingClub Co. will post 0.47 EPS for the current fiscal year.

Insider Activity

In other LendingClub news, Director John C. Morris sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $14.36, for a total transaction of $35,900.00. Following the completion of the transaction, the director now owns 203,348 shares in the company, valued at $2,920,077.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director John C. Morris sold 2,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 203,348 shares in the company, valued at $2,920,077.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was 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 approximately $15,600,381.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,500 shares of company stock worth $591,800. Corporate insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On LendingClub

A number of institutional investors have recently modified their holdings of LC. AlphaMark Advisors LLC purchased a new stake in LendingClub during the 3rd quarter valued at approximately $32,000. EntryPoint Capital LLC grew its position in LendingClub by 44.9% in the 1st quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock valued at $66,000 after buying an additional 2,328 shares during the last quarter. nVerses Capital LLC acquired a new position in LendingClub in the 2nd quarter valued at $71,000. Innealta Capital LLC purchased a new position in LendingClub during the 2nd quarter worth $72,000. Finally, Blue Trust Inc. lifted its stake in shares of LendingClub by 259.8% in the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after acquiring an additional 5,247 shares during the period. 74.08% of the stock is owned by institutional investors and hedge funds.

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.