Keefe, Bruyette & Woods Boosts LendingClub (NYSE:LC) Price Target to $10.00

LendingClub (NYSE:LC) had its target price hoisted by Keefe, Bruyette & Woods from $9.50 to $10.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a market perform rating on the credit services provider’s stock.

Other analysts have also recently issued reports about the stock. Piper Sandler reissued an overweight rating and set a $10.00 target price (up from $9.50) on shares of LendingClub in a report on Wednesday. StockNews.com cut shares of LendingClub from a hold rating to a sell rating in a report on Friday, March 22nd. Finally, Wedbush restated an outperform rating and set a $11.00 price target on shares of LendingClub in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $11.42.

LendingClub Stock Performance

Shares of NYSE:LC opened at $9.28 on Wednesday. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 27.29 and a beta of 2.00. LendingClub has a 1-year low of $4.73 and a 1-year high of $10.92. The company’s fifty day moving average is $8.23 and its two-hundred day moving average is $7.64.

LendingClub (NYSE:LC) last issued its earnings results on Tuesday, April 30th. The credit services provider reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. The company had revenue of $180.69 million for the quarter, compared to analysts’ expectations of $174.52 million. LendingClub had a net margin of 4.69% and a return on equity of 3.04%. During the same period in the prior year, the company earned $0.13 earnings per share. Sell-side analysts expect that LendingClub will post 0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On LendingClub

Several institutional investors have recently modified their holdings of the company. Miracle Mile Advisors LLC grew its position in shares of LendingClub by 9.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 24,134 shares of the credit services provider’s stock worth $211,000 after acquiring an additional 2,000 shares during the last quarter. Asset Management One Co. Ltd. grew its position in LendingClub by 40.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 8,217 shares of the credit services provider’s stock valued at $50,000 after buying an additional 2,377 shares in the last quarter. Swiss National Bank grew its position in LendingClub by 1.8% in the 3rd quarter. Swiss National Bank now owns 236,260 shares of the credit services provider’s stock valued at $1,441,000 after buying an additional 4,200 shares in the last quarter. Principal Financial Group Inc. grew its position in LendingClub by 39.4% in the 3rd quarter. Principal Financial Group Inc. now owns 15,761 shares of the credit services provider’s stock valued at $96,000 after buying an additional 4,455 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in LendingClub by 363.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,999 shares of the credit services provider’s stock valued at $61,000 after buying an additional 5,489 shares in the last quarter. Institutional investors own 74.08% of the company’s stock.

About LendingClub

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.