LendingClub’s (LC) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reiterated their outperform rating on shares of LendingClub (NYSE:LC) in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a $11.00 target price on the credit services provider’s stock.

Separately, StockNews.com cut shares of LendingClub from a hold rating to a sell rating in a report on Friday, March 22nd. 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. According to data from MarketBeat.com, LendingClub has an average rating of Moderate Buy and a consensus price target of $11.42.

LendingClub Stock Up 19.4 %

NYSE:LC opened at $8.98 on Wednesday. LendingClub has a twelve month low of $4.73 and a twelve month high of $10.92. The firm has a market capitalization of $997.86 million, a price-to-earnings ratio of 26.41 and a beta of 2.00. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average price is $8.18 and its two-hundred day moving average price is $7.61.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of LendingClub by 3.1% in 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 acquiring an additional 336,827 shares during the period. Jackson Square Partners LLC boosted its holdings in LendingClub by 5.9% in the 4th quarter. Jackson Square Partners LLC now owns 9,723,943 shares of the credit services provider’s stock valued at $84,987,000 after purchasing an additional 541,538 shares during the period. Dimensional Fund Advisors LP grew its position in shares of LendingClub by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,652,580 shares of the credit services provider’s stock worth $40,664,000 after purchasing an additional 73,515 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of LendingClub by 526.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,884,751 shares of the credit services provider’s stock worth $11,497,000 after purchasing an additional 1,583,882 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of LendingClub by 176.1% in 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 buying an additional 857,371 shares in the last quarter. Institutional investors and hedge funds 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.