Brokerages Set LendingClub Corporation (NYSE:LC) PT at $19.00

LendingClub Corporation (NYSE:LC) has been assigned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $19.00.

A number of analysts have recently issued reports on LC shares. Wall Street Zen upgraded LendingClub from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. BTIG Research boosted their price objective on LendingClub from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. upgraded LendingClub from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $17.00 to $22.00 in a research report on Thursday, October 23rd. Keefe, Bruyette & Woods boosted their price objective on LendingClub from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of LendingClub in a research report on Wednesday, October 8th.

LendingClub Stock Performance

NYSE:LC opened at $17.74 on Friday. The firm’s 50-day moving average is $16.60 and its 200-day moving average is $13.75. LendingClub has a 52-week low of $7.90 and a 52-week high of $19.88. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 20.16 and a beta of 2.51.

LendingClub (NYSE:LC) last posted its quarterly earnings data on Wednesday, October 22nd. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.07. LendingClub had a net margin of 10.94% and a return on equity of 7.68%. The company had revenue of $266.23 million for the quarter, compared to the consensus estimate of $256.27 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The business’s revenue was up 31.8% compared to the same quarter last year. Equities analysts predict that LendingClub will post 0.72 EPS for the current year.

Insider Activity

In other news, CFO Andrew Labenne sold 20,903 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $17.04, for a total transaction of $356,187.12. Following the sale, the chief financial officer directly owned 181,750 shares in the company, valued at approximately $3,097,020. The trade was a 10.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Scott Sanborn sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $19.29, for a total value of $578,700.00. Following the sale, the chief executive officer owned 1,210,070 shares in the company, valued at approximately $23,342,250.30. This represents a 2.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 113,293 shares of company stock worth $1,985,787. Company insiders own 3.31% of the company’s stock.

Institutional Trading of LendingClub

Several large investors have recently made changes to their positions in LC. Quarry LP grew its holdings in shares of LendingClub by 1,427.2% during the first quarter. Quarry LP now owns 2,810 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 2,626 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of LendingClub during the first quarter worth $35,000. Headlands Technologies LLC bought a new stake in shares of LendingClub during the second quarter worth $53,000. KBC Group NV bought a new stake in shares of LendingClub during the first quarter worth $67,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of LendingClub by 46.7% during the third quarter. Jones Financial Companies Lllp now owns 4,051 shares of the credit services provider’s stock worth $67,000 after purchasing an additional 1,290 shares during 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.