LendingClub Co. (NYSE:LC) Receives $15.75 Consensus Target Price from Brokerages

Shares of LendingClub Co. (NYSE:LC - Get Free Report) have received a consensus rating of "Moderate Buy" from the seven research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $16.29.

LC has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a research note on Monday, March 10th. Wall Street Zen cut LendingClub from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods cut their target price on LendingClub from $15.00 to $14.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th.

LendingClub Stock Performance

Shares of LC stock traded up $0.46 during mid-day trading on Thursday, reaching $10.62. 851,000 shares of the company were exchanged, compared to its average volume of 1,619,213. LendingClub has a fifty-two week low of $7.81 and a fifty-two week high of $18.75. The company has a market capitalization of $1.21 billion, a P/E ratio of 23.59 and a beta of 2.41. The business's 50 day simple moving average is $10.05 and its 200 day simple moving average is $12.89.

LendingClub (NYSE:LC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. LendingClub had a return on equity of 4.16% and a net margin of 6.52%. The firm had revenue of $217.71 million for the quarter, compared to analysts' expectations of $213.71 million. During the same period last year, the business posted $0.11 earnings per share. The firm's revenue for the quarter was up 21670.0% on a year-over-year basis. On average, analysts forecast that LendingClub will post 0.72 EPS for the current year.

Insider Buying and Selling at LendingClub

In other LendingClub news, Director Michael P. Zeisser purchased 20,000 shares of the stock in a transaction dated Wednesday, April 30th. The shares were bought at an average cost of $9.35 per share, with a total value of $187,000.00. Following the completion of the acquisition, the director now owns 174,138 shares of the company's stock, valued at approximately $1,628,190.30. This trade represents a 12.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott Sanborn sold 5,250 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $10.30, for a total value of $54,075.00. Following the transaction, the chief executive officer now directly owns 1,298,925 shares in the company, valued at $13,378,927.50. This trade represents a 0.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,250 shares of company stock worth $269,273. 3.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LC. Barclays PLC increased its holdings in shares of LendingClub by 206.6% during the third quarter. Barclays PLC now owns 225,902 shares of the credit services provider's stock valued at $2,582,000 after purchasing an additional 152,224 shares during the period. Entropy Technologies LP acquired a new position in shares of LendingClub during the fourth quarter valued at $199,000. Vontobel Holding Ltd. acquired a new position in shares of LendingClub during the fourth quarter valued at $166,000. Sanctuary Advisors LLC acquired a new position in LendingClub during the fourth quarter worth about $164,000. Finally, New York State Common Retirement Fund grew its holdings in LendingClub by 7.3% during the fourth quarter. New York State Common Retirement Fund now owns 29,316 shares of the credit services provider's stock worth $475,000 after acquiring an additional 2,000 shares during the period. 74.08% of the stock is owned by institutional investors and hedge funds.

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.