LendingClub Corporation (NYSE:LC) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

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LendingClub Corporation (NYSE:LC - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the nine ratings firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $16.5714.

A number of analysts have recently commented on the stock. Piper Sandler set a $15.50 target price on shares of LendingClub and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods boosted their target price on shares of LendingClub from $14.00 to $16.50 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Stephens assumed coverage on shares of LendingClub in a research note on Thursday, June 12th. They set an "overweight" rating and a $15.00 target price for the company. Citigroup assumed coverage on shares of LendingClub in a research note on Monday, July 7th. They set a "market perform" rating for the company. Finally, Citizens Jmp assumed coverage on shares of LendingClub in a research note on Monday, July 7th. They set a "market perform" rating for the company.

Insider Buying and Selling

In other news, CFO Andrew Labenne sold 17,955 shares of the firm's 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. This trade represents a 9.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott Sanborn sold 5,250 shares of the firm's 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. Over the last quarter, insiders have sold 38,955 shares of company stock worth $545,648. 3.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LC. Comerica Bank purchased a new position in LendingClub during the 4th quarter worth $37,000. Quarry LP grew its position in LendingClub by 1,427.2% during the 1st quarter. Quarry LP now owns 2,810 shares of the credit services provider's stock worth $29,000 after purchasing an additional 2,626 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in LendingClub during the 1st quarter worth $35,000. Sterling Capital Management LLC grew its position in LendingClub by 818.6% during the 4th quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider's stock worth $57,000 after purchasing an additional 3,119 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in LendingClub during the 2nd quarter worth $53,000. 74.08% of the stock is owned by hedge funds and other institutional investors.

LendingClub Price Performance

Shares of LendingClub stock opened at $15.95 on Tuesday. The firm has a fifty day moving average price of $13.10 and a 200 day moving average price of $11.72. LendingClub has a 1 year low of $7.90 and a 1 year high of $18.75. The stock has a market cap of $1.83 billion, a PE ratio of 24.92 and a beta of 2.46.

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

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