LendingClub (NYSE:LC) Price Target Raised to $17.00 at Keefe, Bruyette & Woods

LendingClub (NYSE:LC) had its price objective boosted by Keefe, Bruyette & Woods from $15.00 to $17.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the credit services provider’s stock.

Several other research firms also recently weighed in on LC. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $17.00 price objective (up previously from $14.00) on shares of LendingClub in a report on Monday. Piper Sandler reaffirmed an “overweight” rating and issued a $15.00 price objective (up previously from $13.00) on shares of LendingClub in a report on Thursday, October 24th. Maxim Group upped their price objective on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Wedbush upped their price objective on shares of LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Compass Point upped their price target on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

LendingClub Stock Performance

LendingClub stock opened at $15.88 on Wednesday. The company has a 50-day simple moving average of $13.93 and a 200-day simple moving average of $11.35. The firm has a market capitalization of $1.78 billion, a P/E ratio of 34.52 and a beta of 2.02. LendingClub has a one year low of $6.56 and a one year high of $17.15.

LendingClub (NYSE:LC) last released its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.07 by $0.06. The business had revenue of $201.90 million during the quarter, compared to analyst estimates of $190.40 million. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 earnings per share. As a group, sell-side analysts forecast that LendingClub will post 0.47 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $11.09, for a total value of $188,530.00. Following the transaction, the chief executive officer now owns 1,356,273 shares in the company, valued at $15,041,067.57. This represents a 1.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Jordan Cheng sold 22,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $14.83, for a total value of $326,260.00. Following the completion of the transaction, the general counsel now owns 89,385 shares in the company, valued at $1,325,579.55. This represents a 19.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,500 shares of company stock worth $803,820. Company insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On LendingClub

A number of large investors have recently made changes to their positions in LC. AlphaMark Advisors LLC bought a new position in LendingClub during the third quarter valued at approximately $32,000. FMR LLC raised its position in LendingClub by 32.1% during the third quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after acquiring an additional 1,424 shares in the last quarter. nVerses Capital LLC bought a new position in LendingClub during the second quarter valued at approximately $71,000. Innealta Capital LLC bought a new position in LendingClub during the second quarter valued at approximately $72,000. Finally, Blue Trust Inc. raised its position in LendingClub by 259.8% during the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock valued at $83,000 after acquiring an additional 5,247 shares in the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.

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.