LendingClub (NYSE:LC) Price Target Raised to $20.00 at Piper Sandler

LendingClub (NYSE:LC) had its price target increased by Piper Sandler from $15.00 to $20.00 in a research report report published on Friday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the credit services provider’s stock.

Other analysts also recently issued reports about the stock. Keefe, Bruyette & Woods increased their price target on shares of LendingClub from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Wedbush lifted their price target 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. StockNews.com cut shares of LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Maxim Group lifted their target price on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Compass Point raised their price target on LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.63.

LendingClub Price Performance

Shares of NYSE LC opened at $17.51 on Friday. LendingClub has a fifty-two week low of $7.48 and a fifty-two week high of $18.75. The firm has a market capitalization of $1.97 billion, a P/E ratio of 38.07 and a beta of 2.03. The company’s 50 day simple moving average is $15.84 and its 200 day simple moving average is $12.56.

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

Insider Buying and Selling

In other news, General Counsel Jordan Cheng sold 22,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $14.83, for a total value of $326,260.00. Following the completion of the sale, the general counsel now owns 89,385 shares of the company’s stock, valued at approximately $1,325,579.55. This represents a 19.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $14.89, for a total transaction of $253,130.00. Following the completion of the transaction, the chief executive officer now directly owns 1,339,273 shares of the company’s stock, valued at approximately $19,941,774.97. This trade represents a 1.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,500 shares of company stock worth $1,158,610. 3.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LendingClub

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AlphaMark Advisors LLC bought a new stake in shares of LendingClub in the third quarter valued at about $32,000. FMR LLC raised its position in shares of LendingClub by 32.1% in the third quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after buying an additional 1,424 shares in the last quarter. Blue Trust Inc. raised its position in shares of LendingClub by 259.8% in the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock valued at $83,000 after buying an additional 5,247 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of LendingClub by 38.3% in the second quarter. Hsbc Holdings PLC now owns 16,748 shares of the credit services provider’s stock valued at $141,000 after buying an additional 4,640 shares during the period. Finally, Versor Investments LP acquired a new stake in LendingClub during the second quarter worth approximately $167,000. 74.08% of the stock is 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.