LendingClub (NYSE:LC) Receives Hold (C) Rating from Weiss Ratings

Key Points

• LendingClub (NYSE:LC) has received a "hold (c)" rating from Weiss Ratings, with stock analysts reaffirming this stance in a recent research note.
• Research firms such as Keefe, Bruyette & Woods and Piper Sandler have raised their price targets for LendingClub, with an average target price of $16.57 among analysts.
• The company reported a quarterly earnings per share (EPS) of $0.33, significantly exceeding analysts' expectations and marking a 14.1% increase in revenue year-over-year.

LendingClub (NYSE:LC - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by stock analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research firms have also recently commented on LC. Keefe, Bruyette & Woods boosted their price target 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. Citigroup started coverage on shares of LendingClub in a research note on Monday, July 7th. They issued a "market perform" rating for the company. Piper Sandler set a $15.50 price objective on shares of LendingClub and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Zacks Research cut shares of LendingClub from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. Finally, Citizens Jmp started coverage on shares of LendingClub in a research note on Monday, July 7th. They issued a "market perform" rating for the company. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $16.57.

LendingClub Price Performance

LC stock opened at $15.76 on Wednesday. LendingClub has a one year low of $7.90 and a one year high of $18.75. The stock has a market cap of $1.81 billion, a PE ratio of 24.63 and a beta of 2.48. The firm has a 50 day simple moving average of $16.16 and a two-hundred day simple moving average of $12.76.

LendingClub (NYSE:LC - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The credit services provider reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.18. LendingClub had a net margin of 8.36% and a return on equity of 5.66%. The business 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 company earned $0.13 EPS. The business's quarterly revenue was up 14.1% compared to the same quarter last year. On average, research analysts expect that LendingClub will post 0.72 EPS for the current fiscal year.

Insider Activity at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 30,000 shares of the company's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $17.04, for a total value of $511,200.00. Following the completion of the transaction, the chief executive officer directly owned 1,240,070 shares in the company, valued at approximately $21,130,792.80. This represents a 2.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Erin Selleck sold 2,390 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $16.82, for a total transaction of $40,199.80. Following the completion of the transaction, the director owned 73,987 shares of the company's stock, valued at approximately $1,244,461.34. The trade was a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 106,498 shares of company stock worth $1,774,183 in the last three months. 3.19% of the stock is owned by insiders.

Institutional Trading of LendingClub

Institutional investors have recently bought and sold shares of the company. Quarry LP boosted its holdings in shares of LendingClub by 1,427.2% during the 1st quarter. Quarry LP now owns 2,810 shares of the credit services provider's stock valued at $29,000 after acquiring an additional 2,626 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of LendingClub during the first quarter valued at approximately $35,000. Headlands Technologies LLC bought a new stake in shares of LendingClub during the second quarter valued at approximately $53,000. KBC Group NV bought a new stake in shares of LendingClub during the first quarter valued at approximately $67,000. Finally, Asset Management One Co. Ltd. increased its position in LendingClub by 95.4% in the first quarter. Asset Management One Co. Ltd. now owns 9,526 shares of the credit services provider's stock worth $98,000 after purchasing an additional 4,651 shares during the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

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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