LendingClub Co. (NYSE:LC) Receives $15.75 Consensus Price Target from Analysts

LendingClub Co. (NYSE:LC) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat.com 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 1-year target price among brokers that have issued ratings on the stock in the last year is $15.75.

Several equities research analysts recently commented on LC shares. StockNews.com lowered shares of LendingClub from a “hold” rating to a “sell” rating in a report on Tuesday, May 6th. Keefe, Bruyette & Woods cut their price target on shares of LendingClub from $15.00 to $14.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Piper Sandler reissued an “overweight” rating and issued a $19.00 price target (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut their price target on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, March 10th.

Insider Transactions at LendingClub

In other news, CEO Scott Sanborn sold 5,250 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $10.65, for a total transaction of $55,912.50. Following the transaction, the chief executive officer now owns 1,287,282 shares of the company’s stock, valued at approximately $13,709,553.30. The trade was a 0.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael P. Zeisser purchased 20,000 shares of the stock in a transaction dated Wednesday, April 30th. The shares were purchased at an average cost of $9.35 per share, for a total transaction of $187,000.00. Following the transaction, the director now owns 174,138 shares in the company, valued at approximately $1,628,190.30. The trade was a 12.98% increase in their position. The disclosure for this purchase can be found here. Insiders sold 28,000 shares of company stock valued at $313,898 over the last 90 days. 3.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its position in shares of LendingClub by 1.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 852,005 shares of the credit services provider’s stock valued at $8,793,000 after acquiring an additional 12,019 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in LendingClub in the first quarter valued at about $869,000. Boothbay Fund Management LLC lifted its position in LendingClub by 454.0% in the first quarter. Boothbay Fund Management LLC now owns 709,580 shares of the credit services provider’s stock valued at $7,323,000 after buying an additional 581,491 shares during the last quarter. AQR Capital Management LLC lifted its position in LendingClub by 165.1% in the first quarter. AQR Capital Management LLC now owns 33,788 shares of the credit services provider’s stock valued at $349,000 after buying an additional 21,045 shares during the last quarter. Finally, Quarry LP lifted its position in LendingClub by 1,427.2% in the first quarter. Quarry LP now owns 2,810 shares of the credit services provider’s stock valued at $29,000 after buying an additional 2,626 shares during the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.

LendingClub Price Performance

LC opened at $10.62 on Friday. The firm has a fifty day moving average price of $10.26 and a 200 day moving average price of $13.39. LendingClub has a 1 year low of $7.81 and a 1 year high of $18.75. The stock has a market cap of $1.21 billion, a P/E ratio of 23.60 and a beta of 2.35.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $217.71 million during the quarter, compared to analyst estimates of $213.71 million. LendingClub had a net margin of 6.52% and a return on equity of 4.16%. The firm’s revenue was up 21670.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.11 EPS. Equities analysts expect that LendingClub will post 0.72 EPS for the current year.

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.