LendingClub (NYSE:LC) PT Raised to $19.00 at Maxim Group

LendingClub (NYSE:LC) had its target price upped by stock analysts at Maxim Group from $16.00 to $19.00 in a note issued to investors on Friday, MarketBeat reports. The firm currently has a “buy” rating on the credit services provider’s stock. Maxim Group’s price target suggests a potential upside of 39.81% from the stock’s previous close.

LC has been the topic of a number of other reports. StockNews.com raised shares of LendingClub from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. lifted their price objective on LendingClub from $12.00 to $14.00 and gave the stock 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 lifted their price objective for the stock from $11.50 to $15.00 in a research note on Thursday, October 10th. Compass Point lifted their price objective on LendingClub from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Wedbush lifted their price objective on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $15.38.

LendingClub Trading Down 1.7 %

NYSE:LC opened at $13.59 on Friday. The stock has a market capitalization of $1.52 billion, a P/E ratio of 35.76 and a beta of 2.04. LendingClub has a 1 year low of $4.73 and a 1 year high of $15.52. The firm has a 50 day moving average of $11.69 and a 200-day moving average of $10.02.

LendingClub (NYSE:LC) last released its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.07 by $0.06. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. The business had revenue of $201.90 million for the quarter, compared to analysts’ expectations of $190.40 million. During the same period in the prior year, the firm earned $0.05 earnings per share. LendingClub’s revenue was up .5% compared to the same quarter last year. As a group, analysts forecast that LendingClub will post 0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $11.09, for a total value of $188,530.00. Following the completion of the transaction, the chief executive officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 51,703 shares of company stock worth $562,705 over the last three months. Insiders own 3.31% of the company’s stock.

Institutional Trading of LendingClub

A number of institutional investors and hedge funds have recently bought and sold shares of LC. AlphaMark Advisors LLC acquired a new stake in shares of LendingClub in the 3rd quarter valued at about $32,000. Blue Trust Inc. grew 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 valued at $83,000 after buying an additional 5,247 shares during the period. EntryPoint Capital LLC grew its stake in shares of 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 period. nVerses Capital LLC acquired a new stake in shares of LendingClub in the 2nd quarter valued at about $71,000. Finally, Innealta Capital LLC acquired a new stake in shares of LendingClub in the 2nd quarter valued at about $72,000. 74.08% of the stock is currently owned by institutional investors and hedge funds.

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.