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

LendingClub (NYSE:LC) had its price target raised by stock analysts at Compass Point from $13.00 to $15.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the credit services provider’s stock. Compass Point’s target price would suggest a potential upside of 31.35% from the company’s previous close.

Several other brokerages have also commented on LC. Piper Sandler reaffirmed an “overweight” rating and issued a $10.00 price objective (up previously from $9.50) on shares of LendingClub in a report on Wednesday, May 1st. Wedbush reaffirmed an “outperform” rating and issued a $11.00 price objective on shares of LendingClub in a report on Wednesday, May 1st. BTIG Research initiated coverage on LendingClub in a report on Friday, June 7th. They set a “buy” rating and a $12.00 price target for the company. Jefferies Financial Group boosted their price target on LendingClub from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Keefe, Bruyette & Woods boosted their price target on LendingClub from $10.00 to $11.50 and gave the company a “market perform” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.64.

LendingClub Trading Down 8.7 %

LendingClub stock opened at $11.42 on Wednesday. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 33.59 and a beta of 2.06. The stock has a fifty day simple moving average of $9.16 and a two-hundred day simple moving average of $8.71. LendingClub has a 12 month low of $4.73 and a 12 month high of $12.87.

LendingClub (NYSE:LC) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. LendingClub had a return on equity of 3.41% and a net margin of 5.61%. The business had revenue of $187.20 million during the quarter, compared to analyst estimates of $177.03 million. During the same quarter last year, the company earned $0.09 EPS. The company’s quarterly revenue was down 19.5% compared to the same quarter last year. On average, equities research analysts forecast that LendingClub will post 0.29 EPS for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On LendingClub

A number of hedge funds have recently made changes to their positions in LC. SG Americas Securities LLC lifted its position in shares of LendingClub by 64.2% in the fourth quarter. SG Americas Securities LLC now owns 42,244 shares of the credit services provider’s stock worth $369,000 after buying an additional 16,519 shares in the last quarter. Miracle Mile Advisors LLC lifted its position in shares of LendingClub by 9.0% in the fourth quarter. Miracle Mile Advisors LLC now owns 24,134 shares of the credit services provider’s stock worth $211,000 after buying an additional 2,000 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of LendingClub by 617.9% in the fourth quarter. International Assets Investment Management LLC now owns 265,696 shares of the credit services provider’s stock worth $2,322,000 after buying an additional 228,684 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of LendingClub by 2.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 221,735 shares of the credit services provider’s stock worth $1,938,000 after buying an additional 6,009 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in LendingClub by 363.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,999 shares of the credit services provider’s stock worth $61,000 after acquiring an additional 5,489 shares during the last quarter. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

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.