LendingClub (NYSE:LC) Price Target Raised to $18.00

LendingClub (NYSE:LC) had its price target increased by BTIG Research from $16.00 to $18.00 in a research note issued to investors on Thursday, MarketBeat.com reports. They currently have a buy rating on the credit services provider’s stock.

A number of other equities research analysts have also weighed in on the company. Citigroup assumed coverage on LendingClub in a research report on Monday, July 7th. They issued a “market perform” rating on the stock. Citizens Jmp started coverage on LendingClub in a research report on Monday, July 7th. They set a “market perform” rating for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LendingClub in a research report on Wednesday, October 8th. Wall Street Zen raised shares of LendingClub from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of LendingClub from $14.00 to $16.50 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

LendingClub Stock Up 1.0%

Shares of LC opened at $18.44 on Thursday. The stock has a market capitalization of $2.12 billion, a P/E ratio of 20.95 and a beta of 2.48. LendingClub has a twelve month low of $7.90 and a twelve month high of $19.88. The firm has a fifty day simple moving average of $16.36 and a two-hundred day simple moving average of $13.30.

LendingClub (NYSE:LC) last issued its quarterly earnings data on Wednesday, October 22nd. The credit services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.30 by $0.07. The firm had revenue of $266.23 million during the quarter, compared to the consensus estimate of $256.27 million. LendingClub had a net margin of 10.94% and a return on equity of 7.81%. The company’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 earnings per share. Sell-side analysts expect that LendingClub will post 0.72 EPS for the current fiscal year.

Insider Buying and Selling at LendingClub

In other LendingClub news, Director Erin Selleck sold 2,390 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $16.82, for a total transaction of $40,199.80. Following the completion of the sale, the director owned 73,987 shares of the company’s stock, valued at approximately $1,244,461.34. The trade was a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Scott Sanborn sold 30,000 shares of the stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $19.29, for a total transaction of $578,700.00. Following the completion of the sale, the chief executive officer directly owned 1,210,070 shares of the company’s stock, valued at $23,342,250.30. This represents a 2.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 131,248 shares of company stock valued at $2,284,738. Company insiders own 3.19% of the company’s stock.

Institutional Trading of LendingClub

Several institutional investors and hedge funds have recently modified their holdings of LC. Senvest Management LLC boosted its holdings in LendingClub by 23.5% in the 2nd quarter. Senvest Management LLC now owns 5,881,290 shares of the credit services provider’s stock worth $70,752,000 after buying an additional 1,117,241 shares during the period. Wellington Management Group LLP grew its holdings in LendingClub by 36.0% during the 1st quarter. Wellington Management Group LLP now owns 5,167,642 shares of the credit services provider’s stock valued at $53,330,000 after buying an additional 1,368,057 shares in the last quarter. Driehaus Capital Management LLC grew its holdings in LendingClub by 8.6% during the 1st quarter. Driehaus Capital Management LLC now owns 3,897,322 shares of the credit services provider’s stock valued at $40,220,000 after buying an additional 308,523 shares in the last quarter. Geode Capital Management LLC raised its position in shares of LendingClub by 1.3% during the second quarter. Geode Capital Management LLC now owns 2,699,141 shares of the credit services provider’s stock valued at $32,476,000 after buying an additional 34,221 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of LendingClub by 184.1% during the third quarter. Assenagon Asset Management S.A. now owns 2,121,802 shares of the credit services provider’s stock valued at $32,230,000 after buying an additional 1,375,002 shares during the last quarter. 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.