Piper Sandler Reaffirms “Overweight” Rating for LendingClub (NYSE:LC)

Piper Sandler reaffirmed their overweight rating on shares of LendingClub (NYSE:LC) in a research note released on Thursday morning, Benzinga reports. Piper Sandler currently has a $15.00 price objective on the credit services provider’s stock, up from their prior price objective of $13.00.

LC has been the topic of several other reports. Jefferies Financial Group raised their price objective on shares of LendingClub from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Compass Point upped their price objective on LendingClub from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Wedbush lifted their target price on LendingClub from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target on LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, StockNews.com raised shares of LendingClub from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.38.

LendingClub Price Performance

NYSE:LC opened at $13.59 on Thursday. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 35.76 and a beta of 2.04. The business has a fifty day moving average price of $11.69 and a 200-day moving average price of $10.02. LendingClub has a one year low of $4.73 and a one year high of $15.52.

LendingClub (NYSE:LC) last announced its quarterly earnings data 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. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The company had revenue of $201.90 million during the quarter, compared to the consensus estimate of $190.40 million. During the same period in the previous year, the company posted $0.05 EPS. The firm’s revenue was up .5% on a year-over-year basis. On average, equities research analysts expect that LendingClub will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $11.36, for a total transaction of $193,120.00. Following the sale, the chief executive officer now directly owns 1,373,273 shares in the company, valued at approximately $15,600,381.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 51,703 shares of company stock worth $562,705 over the last 90 days. 3.31% of the stock is owned by insiders.

Institutional Trading of LendingClub

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AlphaMark Advisors LLC purchased a new stake in shares of LendingClub in the third quarter worth approximately $32,000. EntryPoint Capital LLC increased its stake in LendingClub by 44.9% in the first quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock worth $66,000 after purchasing an additional 2,328 shares during the period. nVerses Capital LLC bought a new stake in shares of LendingClub during the second quarter worth $71,000. Innealta Capital LLC purchased a new stake in shares of LendingClub during the second quarter valued at $72,000. Finally, Blue Trust Inc. increased its stake in LendingClub by 259.8% in the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after buying an additional 5,247 shares during the period. Hedge funds and other 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.