LendingClub Co. (NYSE:LC) Receives $16.00 Average PT from Brokerages

LendingClub Co. (NYSE:LC) has received an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $16.00.

LC has been the subject of a number of research reports. Compass Point upped their price objective on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Wedbush upped their price objective on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods upped their price objective on shares of LendingClub from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. StockNews.com cut shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Finally, Maxim Group upped their price objective 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.

LendingClub Price Performance

Shares of NYSE:LC opened at $17.91 on Thursday. The company’s fifty day moving average price is $14.60 and its 200-day moving average price is $11.71. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 39.74 and a beta of 2.02. LendingClub has a one year low of $7.48 and a one year high of $18.31.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. The firm had revenue of $201.90 million for the quarter, compared to analyst estimates of $190.40 million. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.05 EPS. As a group, equities research analysts expect that LendingClub will post 0.47 EPS for the current year.

Insider Buying and Selling at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $14.89, for a total value of $253,130.00. Following the completion of the transaction, the chief executive officer now directly owns 1,339,273 shares in the company, valued at approximately $19,941,774.97. This represents a 1.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Morris sold 2,500 shares of the company’s 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 completion of the transaction, the director now owns 203,348 shares of the company’s stock, valued at $2,920,077.28. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,500 shares of company stock valued at $1,073,100 in the last quarter. Company insiders own 3.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its holdings in LendingClub by 5.3% in the 2nd quarter. International Assets Investment Management LLC now owns 19,900 shares of the credit services provider’s stock worth $168,000 after purchasing an additional 1,000 shares in the last quarter. FMR LLC increased its stake in shares of LendingClub by 32.1% in the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock worth $67,000 after acquiring an additional 1,424 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of LendingClub by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 302,844 shares of the credit services provider’s stock worth $2,562,000 after acquiring an additional 1,445 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of LendingClub by 16.3% in the 2nd quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock worth $104,000 after acquiring an additional 1,732 shares in the last quarter. Finally, AlphaMark Advisors LLC bought a new position in shares of LendingClub in the 3rd quarter worth about $32,000. 74.08% of the stock is currently owned by institutional investors.

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.