LendingClub (NYSE:LC) PT Raised to $10.00

LendingClub (NYSE:LC) had its target price increased by equities research analysts at Keefe, Bruyette & Woods from $9.50 to $10.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “market perform” rating on the credit services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 7.76% from the stock’s current price.

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

LendingClub Stock Down 0.5 %

LC stock traded down $0.05 during mid-day trading on Wednesday, hitting $9.28. 1,669,768 shares of the company were exchanged, compared to its average volume of 1,486,852. The firm has a fifty day simple moving average of $8.23 and a 200 day simple moving average of $7.64. The company has a market capitalization of $1.03 billion, a PE ratio of 27.29 and a beta of 2.00. LendingClub has a twelve month low of $4.73 and a twelve month high of $10.92. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 0.01.

LendingClub (NYSE:LC) last posted its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. LendingClub had a return on equity of 3.07% and a net margin of 4.69%. The business had revenue of $180.69 million during the quarter, compared to the consensus estimate of $174.52 million. During the same period last year, the firm earned $0.13 earnings per share. On average, research analysts forecast that LendingClub will post 0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP raised its stake in LendingClub by 38.2% during the 1st quarter. GSA Capital Partners LLP now owns 143,839 shares of the credit services provider’s stock valued at $1,264,000 after acquiring an additional 39,733 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of LendingClub during the first quarter valued at $164,000. Vanguard Group Inc. raised its stake in shares of LendingClub by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock valued at $98,502,000 after purchasing an additional 336,827 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of LendingClub by 176.1% during the fourth quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock valued at $11,749,000 after purchasing an additional 857,371 shares in the last quarter. Finally, Sierra Summit Advisors LLC acquired a new stake in LendingClub in the fourth quarter worth about $337,000. 74.08% of the stock is owned by institutional investors and hedge funds.

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.