LendingClub (NYSE:LC) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

LendingClub (NYSE:LC) had its target price raised by equities research analysts at JPMorgan Chase & Co. from $22.00 to $25.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the credit services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 27.58% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Piper Sandler reiterated an “overweight” rating and issued a $20.00 price objective (up previously from $18.00) on shares of LendingClub in a research note on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of LendingClub in a research note on Tuesday. Citizens Jmp upgraded LendingClub from a “market perform” rating to an “outperform” rating and set a $23.00 price objective on the stock in a research note on Monday, November 10th. BTIG Research lifted their price objective on LendingClub from $18.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, Keefe, Bruyette & Woods increased their target price on LendingClub from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three 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 target price of $21.57.

LendingClub Stock Up 4.2%

Shares of LC stock traded up $0.80 during trading on Thursday, reaching $19.60. 1,183,741 shares of the company’s stock were exchanged, compared to its average volume of 1,715,588. LendingClub has a twelve month low of $7.90 and a twelve month high of $19.88. The stock has a market capitalization of $2.26 billion, a PE ratio of 22.26 and a beta of 2.14. The firm’s fifty day moving average price is $16.85 and its 200-day moving average price is $14.77.

LendingClub (NYSE:LC) last announced its earnings results on Wednesday, October 22nd. The credit services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.30 by $0.07. The business had revenue of $107.79 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 7.68%. LendingClub’s revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 EPS. As a group, analysts anticipate that LendingClub will post 0.72 EPS for the current fiscal year.

LendingClub declared that its board has approved a share repurchase program on Wednesday, November 5th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the credit services provider to reacquire up to 4.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity at LendingClub

In other news, Director Erin Selleck sold 2,390 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $16.82, for a total value of $40,199.80. Following the completion of the transaction, the director directly owned 73,987 shares in the company, valued at approximately $1,244,461.34. This represents a 3.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew Labenne sold 20,903 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $17.04, for a total value of $356,187.12. Following the sale, the chief financial officer owned 181,750 shares in the company, valued at $3,097,020. This represents a 10.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 83,293 shares of company stock valued at $1,486,287. 3.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd acquired a new stake in shares of LendingClub in the 3rd quarter valued at about $26,000. Quarry LP grew its position in LendingClub by 1,427.2% in the 1st quarter. Quarry LP now owns 2,810 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 2,626 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in LendingClub during the first quarter worth $35,000. Headlands Technologies LLC bought a new position in shares of LendingClub in the second quarter valued at $53,000. Finally, Advisory Services Network LLC acquired a new position in shares of LendingClub during the third quarter valued at about $59,000. 74.08% of the stock is 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.