Analysts Set LendingClub Corporation (NYSE:LC) PT at $21.14

LendingClub Corporation (NYSE:LC) has earned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $21.1429.

LC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised LendingClub from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $17.00 to $22.00 in a research report on Thursday, October 23rd. Piper Sandler reissued an “overweight” rating and issued a $20.00 price target (up from $18.00) on shares of LendingClub in a research note on Thursday, October 23rd. Janney Montgomery Scott lifted their price target on LendingClub from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Citizens Jmp upgraded shares of LendingClub from a “market perform” rating to an “outperform” rating and set a $23.00 price objective on the stock in a report on Monday, November 10th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of LendingClub in a research report on Wednesday.

LendingClub Price Performance

Shares of NYSE LC opened at $18.00 on Thursday. The company has a 50-day simple moving average of $16.78 and a 200-day simple moving average of $14.61. The company has a market cap of $2.08 billion, a PE ratio of 20.45 and a beta of 2.51. LendingClub has a 12 month low of $7.90 and a 12 month high of $19.88.

LendingClub (NYSE:LC) last announced its earnings results on Wednesday, October 22nd. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The firm had revenue of $107.79 million for the quarter, compared to analyst estimates of $256.27 million. LendingClub had a net margin of 10.94% and a return on equity of 7.68%. LendingClub’s revenue was up 31.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.13 earnings per share. On average, analysts anticipate that LendingClub will post 0.72 EPS for the current year.

LendingClub declared that its Board of Directors has authorized a stock repurchase program on Wednesday, November 5th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the credit services provider to purchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at LendingClub

In other LendingClub news, Director Erin Selleck sold 2,390 shares of the company’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 directly owned 73,987 shares in the company, valued at $1,244,461.34. This represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Scott Sanborn sold 30,000 shares of LendingClub stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $19.29, for a total value of $578,700.00. Following the completion of the transaction, the chief executive officer directly owned 1,210,070 shares in the company, valued at $23,342,250.30. This represents a 2.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 113,293 shares of company stock valued at $1,985,787. Company insiders own 3.19% of the company’s stock.

Hedge Funds Weigh In On LendingClub

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Asset Management One Co. Ltd. raised its stake in shares of LendingClub by 7.4% during the second quarter. Asset Management One Co. Ltd. now owns 10,232 shares of the credit services provider’s stock valued at $123,000 after purchasing an additional 706 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in LendingClub by 3.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,482 shares of the credit services provider’s stock valued at $357,000 after purchasing an additional 793 shares in the last quarter. Osaic Holdings Inc. increased its stake in LendingClub by 8.8% during the 2nd quarter. Osaic Holdings Inc. now owns 13,354 shares of the credit services provider’s stock worth $160,000 after buying an additional 1,084 shares during the period. Jones Financial Companies Lllp lifted its holdings in LendingClub by 46.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 4,051 shares of the credit services provider’s stock worth $67,000 after buying an additional 1,290 shares in the last quarter. Finally, KLP Kapitalforvaltning AS lifted its holdings in LendingClub by 5.3% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 25,840 shares of the credit services provider’s stock worth $311,000 after buying an additional 1,300 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.