LendingClub Co. (NYSE:LC) Given Average Rating of "Moderate Buy" by Analysts

Shares of LendingClub Co. (NYSE:LC - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eight ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $15.75.

A number of equities analysts recently weighed in on LC shares. Keefe, Bruyette & Woods decreased their price objective on LendingClub from $15.00 to $14.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. JPMorgan Chase & Co. lowered their price objective on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a report on Monday, March 10th. Piper Sandler reaffirmed an "overweight" rating and set a $19.00 target price (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, StockNews.com downgraded shares of LendingClub from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th.

LendingClub Trading Down 0.7 %

LC stock opened at $10.54 on Friday. The company's 50 day moving average is $10.27 and its 200 day moving average is $13.49. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 23.42 and a beta of 2.35. LendingClub has a 1-year low of $7.81 and a 1-year high of $18.75.

LendingClub (NYSE:LC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $0.10 EPS for the quarter, hitting analysts' consensus estimates of $0.10. LendingClub had a net margin of 6.52% and a return on equity of 4.16%. The firm had revenue of $217.71 million for the quarter, compared to analyst estimates of $213.71 million. During the same quarter in the prior year, the firm earned $0.11 EPS. The business's revenue for the quarter was up 21670.0% compared to the same quarter last year. As a group, sell-side analysts forecast that LendingClub will post 0.72 EPS for the current fiscal year.

Insider Activity

In related news, CEO Scott Sanborn sold 5,250 shares of the firm's stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $10.00, for a total value of $52,500.00. Following the completion of the sale, the chief executive officer now owns 1,303,032 shares of the company's stock, valued at $13,030,320. This trade represents a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Jordan Cheng sold 7,000 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total transaction of $98,700.00. Following the transaction, the general counsel now directly owns 88,263 shares in the company, valued at approximately $1,244,508.30. The trade was a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,750 shares of company stock valued at $257,985. Insiders own 3.19% of the company's stock.

Institutional Trading of LendingClub

Several large investors have recently bought and sold shares of LC. JPMorgan Chase & Co. grew its stake in shares of LendingClub by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider's stock worth $11,409,000 after buying an additional 45,307 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of LendingClub by 301.0% during the 4th quarter. Victory Capital Management Inc. now owns 54,687 shares of the credit services provider's stock valued at $885,000 after buying an additional 41,048 shares during the period. Raymond James Financial Inc. purchased a new position in shares of LendingClub in the 4th quarter worth $1,696,000. Invesco Ltd. grew its stake in shares of LendingClub by 87.1% during the 4th quarter. Invesco Ltd. now owns 637,458 shares of the credit services provider's stock valued at $10,320,000 after purchasing an additional 296,813 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new stake in LendingClub during the fourth quarter valued at approximately $470,000. 74.08% of the stock is owned by institutional investors.

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.

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