LendingClub Co. (NYSE:LC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of LendingClub Co. (NYSE:LC) have earned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $11.17.

A number of equities research analysts have recently commented on the company. Piper Sandler reiterated an “overweight” rating and set a $10.00 price objective (up previously from $9.50) on shares of LendingClub in a research report on Wednesday, May 1st. StockNews.com lowered LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. BTIG Research assumed coverage on LendingClub in a report on Friday, June 7th. They set a “buy” rating and a $12.00 price objective on the stock. Keefe, Bruyette & Woods raised their target price on shares of LendingClub from $9.50 to $10.00 and gave the stock a “market perform” rating in a report on Wednesday, May 1st. Finally, Wedbush restated an “outperform” rating and set a $11.00 price target on shares of LendingClub in a report on Wednesday, May 1st.

Insider Activity at LendingClub

In other LendingClub news, Director Erin Selleck sold 4,083 shares of LendingClub stock in a transaction on Friday, May 31st. The shares were sold at an average price of $8.88, for a total transaction of $36,257.04. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at this link. 3.31% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LendingClub

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in LendingClub by 1.6% in the first quarter. Vanguard Group Inc. now owns 11,446,014 shares of the credit services provider’s stock worth $100,610,000 after buying an additional 175,706 shares during the last quarter. Jackson Square Partners LLC raised its holdings in shares of LendingClub by 5.9% during the 4th quarter. Jackson Square Partners LLC now owns 9,723,943 shares of the credit services provider’s stock valued at $84,987,000 after purchasing an additional 541,538 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of LendingClub by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,652,580 shares of the credit services provider’s stock valued at $40,664,000 after purchasing an additional 73,515 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in LendingClub by 526.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,884,751 shares of the credit services provider’s stock worth $11,497,000 after purchasing an additional 1,583,882 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in 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 during the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

LendingClub Stock Up 0.3 %

Shares of LendingClub stock opened at $8.23 on Thursday. The business has a fifty day simple moving average of $8.62 and a 200-day simple moving average of $8.46. LendingClub has a fifty-two week low of $4.73 and a fifty-two week high of $10.92. The firm has a market cap of $913.96 million, a price-to-earnings ratio of 24.19 and a beta of 2.07.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.08. LendingClub had a net margin of 4.69% and a return on equity of 3.04%. The company had revenue of $180.69 million during the quarter, compared to the consensus estimate of $174.52 million. During the same period in the prior year, the company earned $0.13 EPS. Analysts anticipate that LendingClub will post 0.27 earnings per share for the current fiscal year.

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.