LendingClub Co. (NYSE:LC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

LendingClub Co. (NYSE:LC) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $16.00.

LC has been the subject of several recent research reports. Compass Point upped their price objective on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. StockNews.com lowered shares of LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods raised their price target on shares of LendingClub from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating and set a $15.00 price target (up previously from $13.00) on shares of LendingClub in a report on Thursday, October 24th. Finally, Wedbush increased their price objective on LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a report on Thursday, October 24th.

LendingClub Stock Performance

NYSE LC opened at $16.02 on Thursday. The firm’s fifty day moving average price is $14.39 and its two-hundred day moving average price is $11.58. The stock has a market cap of $1.80 billion, a PE ratio of 34.83 and a beta of 2.02. LendingClub has a fifty-two week low of $6.56 and a fifty-two week high of $17.15.

LendingClub (NYSE:LC) last issued its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. The business had revenue of $201.90 million for the quarter, compared to analyst estimates of $190.40 million. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. LendingClub’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS. As a group, sell-side analysts predict that LendingClub will post 0.47 earnings per share for the current fiscal year.

Insider Activity at LendingClub

In other LendingClub news, Director John C. Morris sold 2,500 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $14.36, for a total transaction of $35,900.00. Following the transaction, the director now directly owns 203,348 shares in the company, valued at approximately $2,920,077.28. This represents a 1.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $15.84, for a total transaction of $269,280.00. Following the completion of the sale, the chief executive officer now owns 1,329,184 shares of the company’s stock, valued at $21,054,274.56. This represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,500 shares of company stock worth $1,073,100 over the last quarter. Company insiders own 3.31% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in LendingClub by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider’s stock worth $29,265,000 after buying an additional 42,429 shares during the period. Barclays PLC increased its holdings in shares of LendingClub by 206.6% during the third quarter. Barclays PLC now owns 225,902 shares of the credit services provider’s stock valued at $2,582,000 after acquiring an additional 152,224 shares in the last quarter. XTX Topco Ltd raised its position in shares of LendingClub by 55.4% during the third quarter. XTX Topco Ltd now owns 19,789 shares of the credit services provider’s stock worth $226,000 after purchasing an additional 7,054 shares during the period. Wellington Management Group LLP lifted its holdings in shares of LendingClub by 21.6% in the 3rd quarter. Wellington Management Group LLP now owns 838,535 shares of the credit services provider’s stock worth $9,584,000 after purchasing an additional 148,685 shares in the last quarter. Finally, State Street Corp grew its position in LendingClub by 2.2% in the 3rd quarter. State Street Corp now owns 3,896,816 shares of the credit services provider’s stock valued at $44,541,000 after purchasing an additional 82,315 shares during the period. 74.08% of the stock is owned by institutional investors.

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.