LendingClub (NYSE:LC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of LendingClub (NYSE:LC) from a sell rating to a hold rating in a research note released on Saturday.

Several other research analysts also recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday, March 10th. Stephens began coverage on shares of LendingClub in a report on Thursday, June 12th. They issued an “overweight” rating and a $15.00 price objective for the company. Finally, Keefe, Bruyette & Woods dropped their price target on shares of LendingClub from $15.00 to $14.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.13.

LendingClub Stock Up 5.6%

LC stock opened at $11.04 on Friday. The company’s 50-day simple moving average is $10.26 and its 200-day simple moving average is $12.63. LendingClub has a 52-week low of $7.81 and a 52-week high of $18.75. The firm has a market cap of $1.26 billion, a P/E ratio of 24.54 and a beta of 2.41.

LendingClub (NYSE:LC) last posted its earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. LendingClub had a net margin of 6.52% and a return on equity of 4.16%. The business had revenue of $217.71 million for the quarter, compared to analyst estimates of $213.71 million. During the same period in the prior year, the company posted $0.11 EPS. The company’s revenue for the quarter was up 21670.0% on a year-over-year basis. On average, analysts anticipate that LendingClub will post 0.72 earnings per share for the current fiscal year.

Insider Transactions at LendingClub

In other news, CEO Scott Sanborn sold 5,250 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $10.34, for a total transaction of $54,285.00. Following the transaction, the chief executive officer now directly owns 1,297,782 shares in the company, valued at $13,419,065.88. The trade was a 0.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael P. Zeisser purchased 20,000 shares of the company’s stock in a transaction dated Wednesday, April 30th. The shares were purchased at an average price of $9.35 per share, for a total transaction of $187,000.00. Following the completion of the purchase, the director now owns 174,138 shares of the company’s stock, valued at approximately $1,628,190.30. This trade represents a 12.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 26,250 shares of company stock valued at $269,273. Insiders own 3.19% of the company’s stock.

Institutional Trading of LendingClub

A number of institutional investors have recently added to or reduced their stakes in LC. Quarry LP boosted its holdings in LendingClub by 1,427.2% during the first quarter. Quarry LP now owns 2,810 shares of the credit services provider’s stock worth $29,000 after buying an additional 2,626 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in LendingClub during the first quarter worth about $35,000. Comerica Bank purchased a new stake in LendingClub during the fourth quarter worth about $37,000. SBI Securities Co. Ltd. purchased a new stake in LendingClub during the fourth quarter worth about $45,000. Finally, Sterling Capital Management LLC boosted its holdings in LendingClub by 818.6% during the fourth quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider’s stock worth $57,000 after buying an additional 3,119 shares in the last quarter. Hedge funds and other institutional investors own 74.08% of the company’s stock.

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.