LendingClub Corporation (NYSE:LC) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• LendingClub Corporation (NYSE:LC) received a consensus recommendation of "Moderate Buy" from eleven analysts, with an average 12-month price target of $16.57.
• Insider selling activity was noted, with CFO Andrew Labenne selling 20,903 shares and CEO Scott Sanborn selling 30,000 shares on September 15th, both at an average price of $17.04.
• For the last quarter, LendingClub reported earnings per share of $0.33, exceeding estimates, and revenue of $248.44 million, reflecting a 14.1% increase year-over-year.

Shares of LendingClub Corporation (NYSE:LC - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eleven analysts that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $16.5714.

Several brokerages have recently commented on LC. Citizens Jmp began coverage on LendingClub in a research report on Monday, July 7th. They issued a "market perform" rating for the company. Citigroup began coverage on LendingClub in a research report on Monday, July 7th. They set a "market perform" rating for the company. Keefe, Bruyette & Woods lifted their price objective on LendingClub from $14.00 to $16.50 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Stephens began coverage on LendingClub in a research report on Thursday, June 12th. They set an "overweight" rating and a $15.00 price objective for the company. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of LendingClub in a research report on Saturday, September 27th.

Insider Activity at LendingClub

In related news, CFO Andrew Labenne sold 20,903 shares of LendingClub stock in a transaction on Monday, September 15th. The stock was sold at an average price of $17.04, for a total transaction of $356,187.12. Following the completion of the sale, the chief financial officer owned 181,750 shares of the company's stock, valued at approximately $3,097,020. This trade represents a 10.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott Sanborn sold 30,000 shares of the firm's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $17.04, for a total value of $511,200.00. Following the transaction, the chief executive officer owned 1,240,070 shares in the company, valued at approximately $21,130,792.80. This trade represents a 2.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,498 shares of company stock valued at $1,774,183. Insiders own 3.31% of the company's stock.

Hedge Funds Weigh In On LendingClub

Institutional investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd bought a new position in LendingClub during the first quarter valued at about $869,000. Charles Schwab Investment Management Inc. raised its holdings in LendingClub by 8.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,004,943 shares of the credit services provider's stock valued at $10,371,000 after buying an additional 80,100 shares in the last quarter. Capital Fund Management S.A. bought a new position in LendingClub during the first quarter valued at about $774,000. AlphaQuest LLC raised its holdings in LendingClub by 72.9% during the first quarter. AlphaQuest LLC now owns 40,864 shares of the credit services provider's stock valued at $422,000 after buying an additional 17,224 shares in the last quarter. Finally, Invst LLC bought a new position in LendingClub during the first quarter valued at about $298,000. 74.08% of the stock is currently owned by institutional investors.

LendingClub Stock Up 3.8%

Shares of LendingClub stock opened at $15.37 on Wednesday. The stock has a market cap of $1.76 billion, a PE ratio of 24.01 and a beta of 2.48. The business has a fifty day simple moving average of $16.16 and a 200-day simple moving average of $12.74. LendingClub has a 12 month low of $7.90 and a 12 month high of $18.75.

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

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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