LendingClub (NYSE:LC) Given New $19.00 Price Target at Compass Point

LendingClub (NYSE:LC) had its price target hoisted by Compass Point from $15.00 to $19.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the credit services provider’s stock.

Several other research analysts have also recently commented on LC. Wedbush upped their target price on shares of LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday. Jefferies Financial Group increased their price objective on LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. lifted their target price on LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. StockNews.com raised LendingClub from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Maxim Group lifted their price objective on shares of LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.38.

LendingClub Trading Down 1.7 %

Shares of NYSE LC opened at $13.59 on Friday. LendingClub has a 12-month low of $4.73 and a 12-month high of $15.52. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 35.76 and a beta of 2.04. The stock’s 50 day simple moving average is $11.69 and its 200 day simple moving average is $10.02.

LendingClub (NYSE:LC) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. The company had revenue of $201.90 million for the quarter, compared to analysts’ expectations of $190.40 million. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the business posted $0.05 earnings per share. As a group, equities analysts forecast that LendingClub will post 0.39 earnings per share for the current fiscal year.

Insider Activity at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $10.25, for a total value of $174,250.00. Following the sale, the chief executive officer now directly owns 1,383,362 shares in the company, valued at approximately $14,179,460.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 51,703 shares of company stock valued at $562,705 over the last 90 days. 3.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of LendingClub by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 11,446,014 shares of the credit services provider’s stock worth $100,610,000 after acquiring an additional 175,706 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of LendingClub by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock valued at $49,901,000 after purchasing an additional 300,536 shares during the period. American Century Companies Inc. increased its stake in LendingClub by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock worth $14,032,000 after purchasing an additional 329,279 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in LendingClub by 120.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider’s stock worth $17,351,000 after buying an additional 828,958 shares during the period. Finally, Bank of Montreal Can lifted its stake in LendingClub by 3.3% during the second quarter. Bank of Montreal Can now owns 782,627 shares of the credit services provider’s stock valued at $6,621,000 after buying an additional 24,927 shares in the last quarter. Institutional investors 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.