LendingClub (NYSE:LC) Raised to “Hold” at StockNews.com

LendingClub (NYSE:LC) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other research firms have also weighed in on LC. Compass Point lifted their price objective on shares of LendingClub from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday. BTIG Research began coverage on shares of LendingClub in a research report on Friday, June 7th. They set a “buy” rating and a $12.00 price target for the company. Jefferies Financial Group lifted their price objective on shares of LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Keefe, Bruyette & Woods lifted their price objective on shares of LendingClub from $10.00 to $11.50 and gave the stock a “market perform” rating in a report on Wednesday. Finally, Piper Sandler reissued an “overweight” rating and issued a $13.00 price target (up from $10.00) on shares of LendingClub in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, LendingClub has a consensus rating of “Moderate Buy” and an average target price of $12.64.

LendingClub Stock Performance

LendingClub stock traded down $1.09 during mid-day trading on Thursday, reaching $11.42. The company’s stock had a trading volume of 3,552,181 shares, compared to its average volume of 1,448,008. LendingClub has a 12-month low of $4.73 and a 12-month high of $12.87. The company has a market capitalization of $1.27 billion, a P/E ratio of 33.59 and a beta of 2.06. The firm’s fifty day moving average price is $9.16 and its two-hundred day moving average price is $8.71.

LendingClub (NYSE:LC) last released its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. LendingClub had a net margin of 5.61% and a return on equity of 3.41%. The business had revenue of $187.20 million during the quarter, compared to analyst estimates of $177.03 million. During the same period in the previous year, the business earned $0.09 EPS. LendingClub’s revenue was down 19.5% compared to the same quarter last year. On average, research analysts predict that LendingClub will post 0.27 EPS for the current fiscal year.

Insider Activity

In related news, Director Erin Selleck sold 4,083 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $8.88, for a total transaction of $36,257.04. Following the transaction, the director now owns 54,571 shares in the company, valued at $484,590.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On LendingClub

Several hedge funds and other institutional investors have recently modified their holdings of LC. International Assets Investment Management LLC grew its holdings in LendingClub by 5.3% in the second quarter. International Assets Investment Management LLC now owns 19,900 shares of the credit services provider’s stock worth $168,000 after purchasing an additional 1,000 shares during the period. ProShare Advisors LLC grew its holdings in shares of LendingClub by 8.5% during the first quarter. ProShare Advisors LLC now owns 19,518 shares of the credit services provider’s stock valued at $172,000 after buying an additional 1,536 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of LendingClub by 16.3% during the second quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock valued at $104,000 after buying an additional 1,732 shares during the last quarter. Miracle Mile Advisors LLC grew its holdings 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 valued at $211,000 after buying an additional 2,000 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of LendingClub by 1.0% during the first quarter. Swiss National Bank now owns 216,360 shares of the credit services provider’s stock valued at $1,902,000 after buying an additional 2,100 shares during the last quarter. Hedge funds and other 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.