LendingClub Co. (NYSE:LC) Receives Consensus Recommendation of “Buy” from Brokerages

LendingClub Co. (NYSE:LC – Get Rating) has received a consensus rating of “Buy” from the nine ratings firms that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $40.80.

LC has been the subject of several research analyst reports. Wedbush dropped their target price on shares of LendingClub from $35.00 to $30.00 in a research report on Monday, February 7th. StockNews.com started coverage on shares of LendingClub in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Zacks Investment Research upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a report on Tuesday, April 12th.

Shares of NYSE:LC opened at $16.10 on Friday. The company has a 50 day moving average of $14.54 and a 200 day moving average of $20.08. The stock has a market cap of $1.65 billion, a P/E ratio of 15.94 and a beta of 1.94. LendingClub has a 12 month low of $12.27 and a 12 month high of $49.21. The company has a current ratio of 1.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19.

LendingClub (NYSE:LC – Get Rating) last issued its quarterly earnings data on Wednesday, April 27th. The credit services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.26 by $0.13. The company had revenue of $289.50 million during the quarter, compared to analysts’ expectations of $262.43 million. LendingClub had a net margin of 10.63% and a return on equity of 26.12%. LendingClub’s revenue for the quarter was up 173.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.49) earnings per share. On average, equities analysts forecast that LendingClub will post 1.58 earnings per share for the current fiscal year.

In other news, insider Valerie Kay sold 22,996 shares of the stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $14.06, for a total value of $323,323.76. Following the completion of the transaction, the insider now owns 139,379 shares of the company’s stock, valued at approximately $1,959,668.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Annie Armstrong sold 2,027 shares of the stock in a transaction dated Thursday, April 28th. The stock was sold at an average price of $17.00, for a total transaction of $34,459.00. Following the completion of the transaction, the insider now owns 75,059 shares of the company’s stock, valued at $1,276,003. The disclosure for this sale can be found here. Insiders have sold a total of 36,325 shares of company stock valued at $522,488 over the last quarter. 4.48% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd purchased a new stake in LendingClub in the fourth quarter worth about $27,000. Lazard Asset Management LLC purchased a new stake in LendingClub in the first quarter worth about $30,000. PNC Financial Services Group Inc. grew its holdings in LendingClub by 367.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,607 shares of the credit services provider’s stock worth $41,000 after purchasing an additional 2,049 shares during the period. Emerald Advisers LLC purchased a new stake in LendingClub in the fourth quarter worth about $87,000. Finally, Daiwa Securities Group Inc. grew its holdings in LendingClub by 45.8% in the first quarter. Daiwa Securities Group Inc. now owns 4,232 shares of the credit services provider’s stock worth $67,000 after purchasing an additional 1,329 shares during the period. Institutional investors and hedge funds own 80.27% of the company’s stock.

About LendingClub (Get Rating)

LendingClub Corporation, operates as a bank holding company for LendingClub Bank, National Association that provides range of financial products and services through a technology-driven platform in the United States. The company provides commercial and industrial, commercial real estate, small business, and equipment loans, as well as leases equipment; and unsecured personal and auto, patient finance, and education finance loans.

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