LendingClub (NYSE:LC) Stock Rating Upgraded by StockNews.com

LendingClub (NYSE:LCGet Rating) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Other research analysts also recently issued research reports about the company. Credit Suisse Group decreased their price objective on LendingClub from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, July 28th. Wedbush lifted their price objective on LendingClub to $20.00 in a report on Tuesday, July 26th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $37.40.

LendingClub Price Performance

LendingClub stock opened at $12.32 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.12 and a quick ratio of 1.08. LendingClub has a one year low of $11.16 and a one year high of $49.21. The firm has a market capitalization of $1.28 billion, a P/E ratio of 4.65 and a beta of 2.01. The business has a fifty day moving average price of $13.92 and a 200-day moving average price of $14.13.

LendingClub (NYSE:LCGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The credit services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. LendingClub had a return on equity of 27.96% and a net margin of 24.75%. The company had revenue of $330.10 million for the quarter, compared to the consensus estimate of $298.97 million. During the same quarter last year, the business posted $0.09 earnings per share. The firm’s revenue was up 61.5% compared to the same quarter last year. As a group, equities research analysts forecast that LendingClub will post 1.5 EPS for the current year.

Insider Transactions at LendingClub

In related news, insider Annie Armstrong sold 2,027 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $15.00, for a total value of $30,405.00. Following the completion of the transaction, the insider now directly owns 101,601 shares in the company, valued at approximately $1,524,015. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Ronnie Momen sold 33,726 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $13.86, for a total value of $467,442.36. Following the completion of the transaction, the insider now directly owns 166,594 shares in the company, valued at approximately $2,308,992.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Annie Armstrong sold 2,027 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $15.00, for a total transaction of $30,405.00. Following the completion of the transaction, the insider now owns 101,601 shares of the company’s stock, valued at $1,524,015. The disclosure for this sale can be found here. Insiders have sold a total of 43,083 shares of company stock valued at $598,332 in the last ninety days. 3.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LendingClub

A number of hedge funds have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in LendingClub by 9.9% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,195 shares of the credit services provider’s stock valued at $145,000 after buying an additional 826 shares during the last quarter. Teacher Retirement System of Texas grew its position in shares of LendingClub by 5.8% during the 1st quarter. Teacher Retirement System of Texas now owns 19,444 shares of the credit services provider’s stock valued at $307,000 after acquiring an additional 1,069 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of LendingClub during the 4th quarter valued at $27,000. Aigen Investment Management LP grew its position in shares of LendingClub by 8.5% during the 1st quarter. Aigen Investment Management LP now owns 15,769 shares of the credit services provider’s stock valued at $249,000 after acquiring an additional 1,238 shares during the period. Finally, Strs Ohio grew its position in shares of LendingClub by 6.1% during the 2nd quarter. Strs Ohio now owns 22,700 shares of the credit services provider’s stock valued at $265,000 after acquiring an additional 1,300 shares during the period. 81.80% of the stock is currently owned by hedge funds and other institutional investors.

LendingClub Company Profile

(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.

See Also

Analyst Recommendations for LendingClub (NYSE:LC)

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