LendingClub (NYSE:LC) Upgraded to "Hold" at Wall Street Zen

Key Points

• LendingClub has been upgraded from a "sell" to a "hold" rating by analysts at Wall Street Zen.
• The stock currently has an average rating of "Moderate Buy" with a price target of $16.57.
• Recent transactions by insiders, including CFO Andrew Labenne and CEO Scott Sanborn, involved selling shares, indicating a 9.16% and 0.41% decrease in their respective positions.

LendingClub (NYSE:LC - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

A number of other research firms also recently issued reports on LC. Keefe, Bruyette & Woods upped their target price on shares of LendingClub from $14.00 to $16.50 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Citigroup assumed coverage on shares of LendingClub in a research report on Monday, July 7th. They set a "market perform" rating on the stock. Piper Sandler set a $15.50 price target on LendingClub and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Citizens Jmp assumed coverage on LendingClub in a research note on Monday, July 7th. They issued a "market perform" rating for the company. Finally, Stephens initiated coverage on LendingClub in a research note on Thursday, June 12th. They issued an "overweight" rating and a $15.00 price target for the company. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $16.57.

LendingClub Stock Performance

Shares of NYSE:LC traded up $0.47 on Friday, hitting $16.06. The stock had a trading volume of 2,952,383 shares, compared to its average volume of 1,730,460. The firm's 50 day moving average price is $11.93 and its 200-day moving average price is $11.76. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 25.09 and a beta of 2.46. LendingClub has a twelve month low of $7.90 and a twelve month high of $18.75.

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

Insider Buying and Selling

In other news, CEO Scott Sanborn sold 5,250 shares of the stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $12.98, for a total value of $68,145.00. Following the completion of the sale, the chief executive officer owned 1,283,175 shares of the company's stock, valued at approximately $16,655,611.50. This represents a 0.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew Labenne sold 17,955 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $16.65, for a total value of $298,950.75. Following the completion of the sale, the chief financial officer directly owned 178,111 shares of the company's stock, valued at approximately $2,965,548.15. The trade was a 9.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,205 shares of company stock valued at $601,561. Insiders own 3.31% of the company's stock.

Institutional Investors Weigh In On LendingClub

Several hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC increased its position in LendingClub by 2.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 27,248 shares of the credit services provider's stock worth $441,000 after buying an additional 748 shares during the period. KLP Kapitalforvaltning AS bought a new position in LendingClub during the 4th quarter worth $397,000. LPL Financial LLC bought a new position in LendingClub during the 4th quarter worth $594,000. Wellington Management Group LLP increased its position in LendingClub by 353.1% during the 4th quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider's stock worth $61,515,000 after buying an additional 2,961,050 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of LendingClub by 10.5% in the fourth quarter. Alliancebernstein L.P. now owns 115,198 shares of the credit services provider's stock worth $1,865,000 after purchasing an additional 10,978 shares during the period. Institutional investors and hedge funds own 74.08% of the company's stock.

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.