LendingClub (NYSE:LC) Price Target Raised to $20.00

LendingClub (NYSE:LC) had its price objective lifted by Piper Sandler from $15.00 to $20.00 in a report issued on Friday morning,Benzinga reports. The firm currently has an overweight rating on the credit services provider’s stock.

Several other brokerages also recently issued reports on LC. StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 price target (up from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. Wedbush upped their price objective on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods upped their price target on shares of LendingClub from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Compass Point lifted their price objective on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.63.

LendingClub Stock Up 8.6 %

Shares of NYSE:LC opened at $17.51 on Friday. The company’s 50-day moving average price is $15.84 and its 200 day moving average price is $12.56. LendingClub has a fifty-two week low of $7.48 and a fifty-two week high of $18.75. The company has a market cap of $1.97 billion, a PE ratio of 38.07 and a beta of 2.03.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.07 by $0.06. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The firm had revenue of $201.90 million for the quarter, compared to analysts’ expectations of $190.40 million. During the same period in the previous year, the business earned $0.05 earnings per share. LendingClub’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, equities analysts anticipate that LendingClub will post 0.47 EPS for the current year.

Insiders Place Their Bets

In related news, General Counsel Jordan Cheng sold 22,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $14.83, for a total value of $326,260.00. Following the completion of the transaction, the general counsel now directly owns 89,385 shares of the company’s stock, valued at $1,325,579.55. This trade represents 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 through this hyperlink. Also, Director John C. Morris sold 2,500 shares of LendingClub stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $14.36, for a total transaction of $35,900.00. Following the sale, the director now owns 203,348 shares in the company, valued at $2,920,077.28. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,500 shares of company stock valued at $1,158,610 in the last three months. Company insiders own 3.31% of the company’s stock.

Institutional Trading of LendingClub

A number of large investors have recently bought and sold shares of LC. JPMorgan Chase & Co. increased its holdings in LendingClub by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider’s stock valued at $11,409,000 after purchasing an additional 45,307 shares in the last quarter. Geode Capital Management LLC grew its holdings in LendingClub by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider’s stock worth $29,265,000 after acquiring an additional 42,429 shares during the last quarter. Barclays PLC lifted its position in shares of LendingClub by 206.6% during the third quarter. Barclays PLC now owns 225,902 shares of the credit services provider’s stock worth $2,582,000 after purchasing an additional 152,224 shares in the last quarter. XTX Topco Ltd grew its stake in shares of LendingClub by 55.4% during the third quarter. XTX Topco Ltd now owns 19,789 shares of the credit services provider’s stock valued at $226,000 after purchasing an additional 7,054 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of LendingClub by 21.6% in the third quarter. Wellington Management Group LLP now owns 838,535 shares of the credit services provider’s stock valued at $9,584,000 after purchasing an additional 148,685 shares in the last quarter. 74.08% of the stock is currently owned by 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.