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

Key Points

• LendingClub Corporation has received an average recommendation of “Moderate Buy” from nine brokerages, with six analysts suggesting a buy and three recommending a hold.
• The company reported a quarterly EPS of $0.33, surpassing the expected $0.15, alongside revenue of $248.44 million, which exceeded expectations of $227.04 million.
• Insider trading activity includes the sale of shares by both the Director and CEO, with a combined decrease of over 66,000 shares, reflecting some insider profit-taking.

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

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

LendingClub Price Performance

LC opened at $16.69 on Friday. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 26.08 and a beta of 2.53. The business has a 50-day moving average of $14.96 and a two-hundred day moving average of $12.14. LendingClub has a 12 month low of $7.90 and a 12 month high of $18.75.

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

Insiders Place Their Bets

In other LendingClub news, Director Erin Selleck sold 2,390 shares of the company's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $16.82, for a total value of $40,199.80. Following the completion of the transaction, the director owned 73,987 shares in the company, valued at $1,244,461.34. This represents a 3.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Sanborn sold 30,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $16.65, for a total value of $499,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,270,070 shares in the company, valued at approximately $21,146,665.50. The trade was a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,095 shares of company stock worth $1,031,273 in the last 90 days. 3.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its stake in LendingClub by 8.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,004,943 shares of the credit services provider's stock worth $10,371,000 after buying an additional 80,100 shares during the last quarter. Hsbc Holdings PLC grew its stake in LendingClub by 71.8% during the 1st quarter. Hsbc Holdings PLC now owns 39,176 shares of the credit services provider's stock worth $405,000 after buying an additional 16,367 shares during the last quarter. Mackenzie Financial Corp bought a new position in LendingClub during the 1st quarter worth $211,000. Bank of America Corp DE grew its stake in LendingClub by 111.5% during the 4th quarter. Bank of America Corp DE now owns 402,033 shares of the credit services provider's stock worth $6,509,000 after buying an additional 211,979 shares during the last quarter. Finally, Nuveen LLC bought a new position in LendingClub during the 1st quarter worth $16,329,000. 74.08% of the stock is currently owned by institutional investors.

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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