Other research analysts also recently issued reports about the company. Wedbush reaffirmed an outperform rating and issued a $11.00 price target on shares of LendingClub in a research report on Wednesday, January 31st. Compass Point dropped their price target on LendingClub from $15.00 to $13.00 in a research report on Wednesday, October 11th. Finally, Piper Sandler began coverage on LendingClub in a research report on Tuesday, November 28th. They issued an overweight rating and a $8.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $11.08.
LendingClub Stock Up 1.2 %
LendingClub (NYSE:LC – Get Free Report) last posted its earnings results on Tuesday, January 30th. The credit services provider reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.07. LendingClub had a return on equity of 3.24% and a net margin of 4.50%. The firm had revenue of $185.60 million during the quarter, compared to analyst estimates of $182.13 million. During the same period in the previous year, the company earned $0.19 EPS. The company’s revenue for the quarter was down 29.3% on a year-over-year basis. Research analysts forecast that LendingClub will post 0.23 EPS for the current year.
Institutional Trading of LendingClub
A number of institutional investors and hedge funds have recently modified their holdings of LC. Jacobs Levy Equity Management Inc. grew its position in LendingClub by 526.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,884,751 shares of the credit services provider’s stock valued at $11,497,000 after acquiring an additional 1,583,882 shares during the period. Balyasny Asset Management L.P. grew its position in LendingClub by 173.2% in the first quarter. Balyasny Asset Management L.P. now owns 2,241,362 shares of the credit services provider’s stock valued at $16,160,000 after acquiring an additional 1,420,857 shares during the period. Vanguard Group Inc. grew its position in LendingClub by 11.8% in the third quarter. Vanguard Group Inc. now owns 13,111,119 shares of the credit services provider’s stock valued at $144,878,000 after acquiring an additional 1,381,527 shares during the period. Goldman Sachs Group Inc. grew its position in LendingClub by 348.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,166,354 shares of the credit services provider’s stock valued at $18,405,000 after acquiring an additional 905,980 shares during the period. Finally, Renaissance Technologies LLC grew its position in LendingClub by 47.3% in the second quarter. Renaissance Technologies LLC now owns 2,109,590 shares of the credit services provider’s stock valued at $20,569,000 after acquiring an additional 677,070 shares during the period. 75.57% of the stock is currently owned by institutional investors.
LendingClub Company Profile
LendingClub Corporation, operates as a bank holding company for LendingClub Bank, National Association 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.
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