LendingClub (NYSE:LC) Price Target Raised to $15.00 at Compass Point

LendingClub (NYSE:LC) had its target price upped by research analysts at Compass Point from $13.00 to $15.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the credit services provider’s stock. Compass Point’s price objective indicates a potential upside of 29.31% from the stock’s current price.

Several other research firms have also recently issued reports on LC. Keefe, Bruyette & Woods upped their price objective on LendingClub from $10.00 to $11.50 and gave the stock a “market perform” rating in a research report on Wednesday. BTIG Research initiated coverage on shares of LendingClub in a research report on Friday, June 7th. They set a “buy” rating and a $12.00 price objective for the company. Piper Sandler restated an “overweight” rating and issued a $10.00 price objective (up previously from $9.50) on shares of LendingClub in a research note on Wednesday, May 1st. Jefferies Financial Group raised their price target on LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Wedbush reissued an “outperform” rating and issued a $11.00 price objective on shares of LendingClub in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.79.

LendingClub Trading Up 3.7 %

NYSE:LC opened at $11.60 on Wednesday. The stock has a fifty day moving average price of $9.04 and a 200 day moving average price of $8.67. LendingClub has a 12-month low of $4.73 and a 12-month high of $11.60. The firm has a market cap of $1.29 billion, a PE ratio of 34.12 and a beta of 2.06.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. LendingClub had a net margin of 4.69% and a return on equity of 3.04%. The company had revenue of $187.20 million during the quarter, compared to the consensus estimate of $177.03 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The firm’s quarterly revenue was down 19.5% on a year-over-year basis. Equities analysts forecast that LendingClub will post 0.27 EPS for the current year.

Insider Buying and Selling

In other news, Director Erin Selleck sold 4,083 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $8.88, for a total transaction of $36,257.04. Following the sale, the director now owns 54,571 shares of the company’s stock, valued at approximately $484,590.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.31% of the stock is owned by insiders.

Institutional Trading of LendingClub

Several institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP grew its holdings in shares of LendingClub by 176.1% during the fourth quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock worth $11,749,000 after buying an additional 857,371 shares in the last quarter. rhino investment partners Inc acquired a new stake in shares of LendingClub in the fourth quarter worth approximately $6,838,000. Verition Fund Management LLC purchased a new stake in LendingClub in the fourth quarter valued at approximately $6,115,000. Jackson Square Partners LLC increased its position in LendingClub by 5.9% during the fourth quarter. Jackson Square Partners LLC now owns 9,723,943 shares of the credit services provider’s stock worth $84,987,000 after purchasing an additional 541,538 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in LendingClub by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock worth $98,502,000 after purchasing an additional 336,827 shares during the period. Hedge funds and other institutional investors 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.