LendingClub Corporation (NYSE:LC) Receives $16.57 Consensus Target Price from Analysts

Key Points

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Shares of LendingClub Corporation (NYSE:LC - Get Free Report) have received an average rating of "Moderate Buy" from the nine brokerages that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $16.5714.

LC has been the topic of a number of research analyst reports. Citizens Jmp initiated coverage on shares of LendingClub in a report on Monday, July 7th. They set a "market perform" rating on the stock. Citigroup initiated coverage on shares of LendingClub in a report on Monday, July 7th. They set a "market perform" rating on the stock. Wall Street Zen upgraded shares of LendingClub from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Piper Sandler set a $15.50 price objective on shares of LendingClub and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Finally, Stephens began coverage on shares of LendingClub in a report on Thursday, June 12th. They set an "overweight" rating and a $15.00 price objective on the stock.

Insider Buying and Selling at LendingClub

In other LendingClub news, CFO Andrew Labenne sold 17,955 shares of LendingClub stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $16.65, for a total value of $298,950.75. Following the sale, the chief financial officer directly owned 178,111 shares in the company, valued at approximately $2,965,548.15. The trade was a 9.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Sanborn sold 5,250 shares of LendingClub stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $12.98, for a total transaction of $68,145.00. Following the completion of the sale, the chief executive officer owned 1,283,175 shares in the company, valued at $16,655,611.50. The trade was a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,955 shares of company stock worth $545,648 over the last quarter. Company insiders own 3.19% of the company's stock.

Institutional Investors Weigh In On LendingClub

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LC. Wellington Management Group LLP increased its stake in LendingClub by 353.1% in the 4th quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider's stock valued at $61,515,000 after buying an additional 2,961,050 shares during the last quarter. Driehaus Capital Management LLC grew its position in shares of LendingClub by 229.1% in the 4th quarter. Driehaus Capital Management LLC now owns 3,588,799 shares of the credit services provider's stock valued at $58,103,000 after acquiring an additional 2,498,318 shares during the period. Nuveen LLC bought a new position in shares of LendingClub in the 1st quarter valued at about $16,329,000. Balyasny Asset Management L.P. grew its position in shares of LendingClub by 196.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,131,253 shares of the credit services provider's stock valued at $34,505,000 after acquiring an additional 1,412,568 shares during the period. Finally, Senvest Management LLC grew its position in shares of LendingClub by 23.5% in the 2nd quarter. Senvest Management LLC now owns 5,881,290 shares of the credit services provider's stock valued at $70,752,000 after acquiring an additional 1,117,241 shares during the period. 74.08% of the stock is currently owned by institutional investors and hedge funds.

LendingClub Stock Up 6.0%

Shares of NYSE:LC traded up $0.9140 during midday trading on Tuesday, reaching $16.2740. 2,388,864 shares of the company were exchanged, compared to its average volume of 2,431,005. LendingClub has a fifty-two week low of $7.90 and a fifty-two week high of $18.75. The stock has a fifty day simple moving average of $13.47 and a two-hundred day simple moving average of $11.80. The firm has a market cap of $1.87 billion, a PE ratio of 25.43 and a beta of 2.46.

LendingClub (NYSE:LC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The credit services provider reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.18. LendingClub had a net margin of 8.36% and a return on equity of 5.66%. The business had revenue of $248.44 million for the quarter, compared to analyst estimates of $227.04 million. During the same period last year, the business posted $0.13 earnings per share. The firm's quarterly revenue was up 14.1% on a year-over-year basis. As a group, analysts forecast that LendingClub will post 0.72 earnings per share for the current year.

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.