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

LendingClub (NYSE:LC) had its price target increased by equities researchers at Keefe, Bruyette & Woods from $15.00 to $17.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the credit services provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 10.03% from the stock’s previous close.

LC has been the subject of several other research reports. Piper Sandler reiterated an “overweight” rating and issued a $15.00 price objective (up previously from $13.00) on shares of LendingClub in a research note on Thursday, October 24th. Maxim Group increased their target price on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Compass Point raised their target price on LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $17.00 price objective (up previously from $14.00) on shares of LendingClub in a research note on Monday. Finally, 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, October 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, LendingClub presently has an average rating of “Moderate Buy” and an average target price of $16.00.

LendingClub Stock Down 1.8 %

Shares of LC stock traded down $0.29 during trading on Wednesday, reaching $15.45. 313,790 shares of the company’s stock were exchanged, compared to its average volume of 1,488,476. The stock has a market capitalization of $1.74 billion, a PE ratio of 33.50 and a beta of 2.02. LendingClub has a twelve month low of $6.56 and a twelve month high of $17.15. The firm’s fifty day moving average price is $13.82 and its 200-day moving average price is $11.32.

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

Insider Buying and Selling

In other LendingClub news, General Counsel Jordan Cheng sold 22,000 shares of LendingClub stock in a transaction on Friday, November 8th. The stock was sold at an average price of $14.83, for a total transaction of $326,260.00. Following the completion of the sale, the general counsel now directly owns 89,385 shares of the company’s stock, valued at $1,325,579.55. The trade was a 19.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were 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 approximately $15,041,067.57. This represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,500 shares of company stock worth $996,940. 3.31% of the stock is owned by insiders.

Institutional Investors Weigh In On LendingClub

Institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its stake in shares of LendingClub by 5.3% during the second quarter. International Assets Investment Management LLC now owns 19,900 shares of the credit services provider’s stock worth $168,000 after buying an additional 1,000 shares during the period. FMR LLC lifted its stake in LendingClub by 32.1% during the 3rd 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 during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of 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 valued at $2,562,000 after acquiring an additional 1,445 shares during the last quarter. SG Americas Securities LLC lifted its position in LendingClub by 16.3% during the second quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock valued at $104,000 after purchasing an additional 1,732 shares during the period. Finally, AlphaMark Advisors LLC acquired a new stake in LendingClub during the 3rd quarter worth about $32,000. 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.