Stephens Initiates Coverage on LendingClub (NYSE:LC)

Stephens initiated coverage on shares of LendingClub (NYSE:LC - Free Report) in a research report report published on Thursday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $15.00 target price on the credit services provider's stock.

Several other equities analysts have also issued reports on LC. Wall Street Zen lowered shares of LendingClub from a "hold" rating to a "sell" rating in a report on Tuesday, May 6th. Keefe, Bruyette & Woods dropped their price objective on shares of LendingClub from $15.00 to $14.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $16.13.

LendingClub Price Performance

Shares of LendingClub stock traded up $0.01 during trading on Thursday, hitting $10.98. The company's stock had a trading volume of 1,311,741 shares, compared to its average volume of 1,621,325. LendingClub has a 52 week low of $7.81 and a 52 week high of $18.75. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 24.40 and a beta of 2.41. The stock has a 50-day moving average price of $10.13 and a two-hundred day moving average price of $12.80.

LendingClub (NYSE:LC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. LendingClub had a net margin of 6.52% and a return on equity of 4.16%. The company had revenue of $217.71 million for the quarter, compared to analysts' expectations of $213.71 million. During the same quarter in the previous year, the firm posted $0.11 earnings per share. LendingClub's revenue for the quarter was up 21670.0% on a year-over-year basis. On average, equities analysts predict that LendingClub will post 0.72 EPS for the current fiscal year.

Insider Transactions at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 5,250 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $10.30, for a total value of $54,075.00. Following the completion of the sale, the chief executive officer now directly owns 1,298,925 shares of the company's stock, valued at approximately $13,378,927.50. This represents a 0.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael P. Zeisser acquired 20,000 shares of LendingClub stock in a transaction on Wednesday, April 30th. The stock was purchased at an average cost of $9.35 per share, with a total value of $187,000.00. Following the completion of the transaction, the director now directly owns 174,138 shares in the company, valued at $1,628,190.30. This represents a 12.98% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 26,250 shares of company stock valued at $269,273 over the last three months. Corporate insiders own 3.19% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its position in shares of 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 valued at $6,509,000 after acquiring an additional 211,979 shares during the period. Victory Capital Management Inc. grew its position in shares of LendingClub by 301.0% during the 4th quarter. Victory Capital Management Inc. now owns 54,687 shares of the credit services provider's stock valued at $885,000 after acquiring an additional 41,048 shares during the period. Raymond James Financial Inc. bought a new position in shares of LendingClub during the 4th quarter valued at approximately $1,696,000. Invesco Ltd. grew its position in shares of LendingClub by 87.1% during the 4th quarter. Invesco Ltd. now owns 637,458 shares of the credit services provider's stock valued at $10,320,000 after acquiring an additional 296,813 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of LendingClub during the 4th quarter valued at approximately $470,000. 74.08% of the stock is 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.