LendingClub Co. (NYSE:LC) Receives $16.38 Consensus PT from Brokerages

LendingClub Co. (NYSE:LC) has received an average rating of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $16.38.

Several research analysts have commented on LC shares. Piper Sandler reissued an “overweight” rating and issued a $19.00 price target (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Compass Point lifted their price objective on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Wedbush boosted their target price on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $16.00 price target (down previously from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $17.00 price objective (up previously from $14.00) on shares of LendingClub in a report on Monday, December 2nd.

LendingClub Trading Up 2.6 %

LC stock opened at $13.65 on Friday. The firm has a 50 day moving average of $16.07 and a 200-day moving average of $13.64. The firm has a market capitalization of $1.53 billion, a P/E ratio of 30.32 and a beta of 2.00. LendingClub has a 12 month low of $7.48 and a 12 month high of $18.75.

Insider Activity at LendingClub

In related news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total value of $274,040.00. Following the transaction, the chief executive officer now owns 1,312,184 shares in the company, valued at $21,152,406.08. This trade represents a 1.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael P. Zeisser purchased 20,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were acquired at an average price of $12.88 per share, with a total value of $257,600.00. Following the completion of the transaction, the director now owns 148,018 shares of the company’s stock, valued at approximately $1,906,471.84. This trade represents a 15.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LendingClub

Several institutional investors and hedge funds have recently bought and sold shares of LC. Hsbc Holdings PLC boosted its stake in shares of LendingClub by 38.3% during the second quarter. Hsbc Holdings PLC now owns 16,748 shares of the credit services provider’s stock valued at $141,000 after purchasing an additional 4,640 shares during the period. Marshall Wace LLP purchased a new stake in LendingClub during the 2nd quarter valued at $2,412,000. The Manufacturers Life Insurance Company grew its holdings in LendingClub by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 302,844 shares of the credit services provider’s stock worth $2,562,000 after acquiring an additional 1,445 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of LendingClub in the second quarter valued at about $264,000. Finally, Algert Global LLC raised its stake in shares of LendingClub by 265.0% during the second quarter. Algert Global LLC now owns 146,305 shares of the credit services provider’s stock valued at $1,238,000 after acquiring an additional 106,224 shares during the last quarter. 74.08% of the stock is currently owned by institutional investors.

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.