LendingClub Co. (NYSE:LC) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of LendingClub Co. (NYSE:LC) have earned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $13.07.

Several research firms have recently weighed in on LC. Jefferies Financial Group boosted their price objective on shares of LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Keefe, Bruyette & Woods upped their price objective on LendingClub from $10.00 to $11.50 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. BTIG Research started coverage on LendingClub in a research note on Friday, June 7th. They set a “buy” rating and a $12.00 target price for the company. StockNews.com upgraded LendingClub from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th.

LendingClub Stock Performance

Shares of LendingClub stock opened at $11.23 on Friday. LendingClub has a 52-week low of $4.73 and a 52-week high of $12.87. The business’s 50 day simple moving average is $11.11 and its 200 day simple moving average is $9.55. The firm has a market cap of $1.25 billion, a PE ratio of 33.01 and a beta of 2.04.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.04 by $0.09. The firm had revenue of $187.20 million for the quarter, compared to analysts’ expectations of $177.03 million. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. The company’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 EPS. As a group, equities research analysts predict that LendingClub will post 0.38 EPS for the current year.

Insider Buying and Selling

In other news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $11.36, for a total transaction of $193,120.00. Following the completion of the transaction, the chief executive officer now owns 1,373,273 shares of the company’s stock, valued at approximately $15,600,381.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 34,703 shares of company stock worth $374,175. Corporate insiders own 3.31% of the company’s stock.

Institutional Investors Weigh In On LendingClub

Hedge funds and other institutional investors have recently bought and sold shares of the company. EntryPoint Capital LLC increased its position in LendingClub by 44.9% in the 1st quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock valued at $66,000 after acquiring an additional 2,328 shares during the period. nVerses Capital LLC acquired a new stake in LendingClub in the second quarter valued at $71,000. Innealta Capital LLC bought a new position in LendingClub during the 2nd quarter worth $72,000. SG Americas Securities LLC lifted its holdings in LendingClub by 16.3% during the 2nd quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock worth $104,000 after buying an additional 1,732 shares during the period. Finally, Bayesian Capital Management LP bought a new stake in shares of LendingClub in the 1st quarter valued at about $129,000. Institutional investors 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.