LendingClub (NYSE:LC) Given New $17.00 Price Target at Keefe, Bruyette & Woods

LendingClub (NYSE:LC) had its price target hoisted by equities research analysts at Keefe, Bruyette & Woods from $15.00 to $17.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the credit services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 8.35% from the company’s previous close.

LC has been the subject of several other reports. Compass Point raised their price objective on shares of LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $17.00 price target (up from $14.00) on shares of LendingClub in a report on Monday. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Wedbush boosted their target price on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Maxim Group raised their price target on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.00.

LendingClub Trading Down 1.2 %

LC stock opened at $15.69 on Wednesday. LendingClub has a 1-year low of $6.56 and a 1-year high of $17.15. The business’s 50 day simple moving average is $14.03 and its 200 day simple moving average is $11.38. The firm has a market capitalization of $1.76 billion, a PE ratio of 34.11 and a beta of 2.02.

LendingClub (NYSE:LC) last issued its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.06. The company had revenue of $201.90 million for the quarter, compared to analyst estimates of $190.40 million. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The company’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 earnings per share. As a group, sell-side analysts predict that LendingClub will post 0.47 EPS for the current fiscal year.

Insider Activity at LendingClub

In other LendingClub news, General Counsel Jordan Cheng sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $14.83, for a total transaction of $326,260.00. Following the completion of the transaction, the general counsel now directly owns 89,385 shares in the company, valued at $1,325,579.55. The trade was a 19.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $14.89, for a total value of $253,130.00. Following the completion of the sale, the chief executive officer now directly owns 1,339,273 shares in the company, valued at approximately $19,941,774.97. This represents a 1.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,500 shares of company stock valued at $803,820 over the last quarter. 3.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AlphaMark Advisors LLC acquired a new stake in shares of LendingClub in the 3rd quarter valued at approximately $32,000. FMR LLC lifted its stake in LendingClub by 32.1% in the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after purchasing an additional 1,424 shares during the last quarter. Blue Trust Inc. boosted its position in LendingClub by 259.8% in the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock valued at $83,000 after buying an additional 5,247 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of LendingClub during the second quarter worth $71,000. Finally, Innealta Capital LLC acquired a new position in shares of LendingClub during the second quarter worth $72,000. 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.