LendingClub (NYSE:LC) PT Raised to $11.50

LendingClub (NYSE:LC) had its price target boosted by Keefe, Bruyette & Woods from $10.00 to $11.50 in a research note released on Wednesday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the credit services provider’s stock.

LC has been the topic of several other research reports. Piper Sandler reaffirmed an overweight rating and set a $10.00 price target (up previously from $9.50) on shares of LendingClub in a research report on Wednesday, May 1st. BTIG Research started coverage on LendingClub in a research report on Friday, June 7th. They set a buy rating and a $12.00 price target on the stock. Wedbush reaffirmed an outperform rating and set a $11.00 price target on shares of LendingClub in a research report on Wednesday, May 1st. Finally, Jefferies Financial Group lifted their price target on LendingClub from $11.00 to $12.00 and gave the stock a buy rating in a research report on Thursday, July 18th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $12.64.

LendingClub Price Performance

LC stock opened at $10.64 on Wednesday. LendingClub has a 1 year low of $4.73 and a 1 year high of $12.87. The firm has a market capitalization of $1.18 billion, a P/E ratio of 31.29 and a beta of 2.06. The business’s 50-day moving average is $9.19 and its two-hundred day moving average is $8.73.

LendingClub (NYSE:LC) last released its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. LendingClub had a return on equity of 3.41% and a net margin of 5.61%. The business had revenue of $187.20 million for the quarter, compared to the consensus estimate of $177.03 million. During the same quarter in the prior year, the business posted $0.09 EPS. The business’s revenue for the quarter was down 19.5% on a year-over-year basis. On average, analysts expect that LendingClub will post 0.34 EPS for the current year.

Insider Activity at LendingClub

In related news, Director Erin Selleck sold 4,083 shares of LendingClub stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $8.88, for a total value of $36,257.04. Following the sale, the director now directly owns 54,571 shares in the company, valued at $484,590.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 3.31% of the company’s stock.

Institutional Trading of LendingClub

Institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its stake in shares of LendingClub by 363.5% in the fourth 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. EntryPoint Capital LLC boosted its position in LendingClub by 44.9% during the first quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock worth $66,000 after purchasing an additional 2,328 shares in the last quarter. nVerses Capital LLC purchased a new stake in LendingClub during the second quarter worth $71,000. Innealta Capital LLC purchased a new stake in LendingClub during the second quarter worth $72,000. Finally, SG Americas Securities LLC boosted its position in LendingClub by 16.3% during the second quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock worth $104,000 after purchasing an additional 1,732 shares in the last quarter. 74.08% of the stock is currently owned by hedge funds and other 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.