LendingClub Corporation (NYSE:LC) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of LendingClub Corporation (NYSE:LC - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eight research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research 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 issued a report on the stock in the last year is $16.13.

Several brokerages have issued reports on LC. Keefe, Bruyette & Woods cut their price target on LendingClub from $15.00 to $14.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. lowered their price objective on LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a research report on Monday, March 10th. Wall Street Zen upgraded LendingClub from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, Stephens initiated coverage on LendingClub in a research report on Thursday, June 12th. They set an "overweight" rating and a $15.00 price objective on the stock.

LendingClub Trading Up 0.2%

NYSE LC opened at $11.98 on Monday. The company has a market cap of $1.37 billion, a PE ratio of 27.23 and a beta of 2.41. LendingClub has a 12 month low of $7.90 and a 12 month high of $18.75. The stock has a 50 day moving average of $10.61 and a 200-day moving average of $12.36.

LendingClub (NYSE:LC - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $217.71 million during the quarter, compared to the consensus estimate of $213.71 million. LendingClub had a return on equity of 4.04% and a net margin of 6.16%. The firm's revenue for the quarter was up 21670.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 EPS. As a group, sell-side analysts predict that LendingClub will post 0.72 EPS for the current fiscal year.

Insider Buying and Selling

In other LendingClub news, Director Michael P. Zeisser acquired 20,000 shares of LendingClub stock in a transaction that occurred on Wednesday, April 30th. The shares were acquired at an average cost of $9.35 per share, with a total value of $187,000.00. Following the completion of the purchase, the director now directly owns 174,138 shares of the company's stock, valued at $1,628,190.30. This represents a 12.98% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott Sanborn sold 5,250 shares of the firm's stock in a transaction dated Wednesday, April 9th. The shares were 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 directly owns 1,303,032 shares in the company, valued at $13,030,320. 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 quarter, insiders have sold 31,500 shares of company stock worth $327,810. Company insiders own 3.31% of the company's stock.

Institutional Trading of LendingClub

A number of hedge funds have recently made changes to their positions in the company. Voya Investment Management LLC boosted its stake in shares of LendingClub by 21.5% during the first quarter. Voya Investment Management LLC now owns 67,837 shares of the credit services provider's stock valued at $700,000 after purchasing an additional 11,985 shares in the last quarter. Invst LLC acquired a new position in shares of LendingClub in the first quarter worth approximately $298,000. Strs Ohio acquired a new position in shares of LendingClub in the first quarter worth approximately $554,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of LendingClub by 3.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,658 shares of the credit services provider's stock worth $3,103,000 after acquiring an additional 11,407 shares during the period. Finally, Optimize Financial Inc lifted its stake in shares of LendingClub by 6.4% in the first quarter. Optimize Financial Inc now owns 32,628 shares of the credit services provider's stock worth $337,000 after acquiring an additional 1,956 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.

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