LendingClub (NYSE:LC) PT Raised to $11.50 at Keefe, Bruyette & Woods

LendingClub (NYSE:LC) had its price target boosted by Keefe, Bruyette & Woods from $10.00 to $11.50 in a report issued on Wednesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the credit services provider’s stock.

A number of other equities analysts have also recently issued reports on LC. Piper Sandler restated an overweight rating and set a $10.00 target price (up previously from $9.50) on shares of LendingClub in a research report on Wednesday, May 1st. BTIG Research began coverage on LendingClub in a research report on Friday, June 7th. They set a buy rating and a $12.00 price objective for the company. Wedbush reiterated an outperform rating and set a $11.00 target price on shares of LendingClub in a report on Wednesday, May 1st. Finally, 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 report on Thursday, July 18th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $12.64.

LendingClub Price Performance

NYSE LC opened at $10.64 on Wednesday. The business has a 50 day moving average price of $9.19 and a 200 day moving average price of $8.73. The company has a market capitalization of $1.18 billion, a P/E ratio of 31.29 and a beta of 2.06. LendingClub has a 1-year low of $4.73 and a 1-year high of $12.87.

LendingClub (NYSE:LC) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.09. The company had revenue of $187.20 million for the quarter, compared to analyst estimates of $177.03 million. LendingClub had a return on equity of 3.41% and a net margin of 5.61%. LendingClub’s revenue was down 19.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 earnings per share. On average, research analysts expect that LendingClub will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Erin Selleck sold 4,083 shares of LendingClub stock in a transaction on Friday, May 31st. The stock was sold at an average price of $8.88, for a total value of $36,257.04. Following the completion of the sale, the director now owns 54,571 shares of the company’s stock, valued at $484,590.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On LendingClub

Several large investors have recently added to or reduced their stakes in LC. International Assets Investment Management LLC increased its stake in shares of LendingClub by 5.3% during the 2nd quarter. International Assets Investment Management LLC now owns 19,900 shares of the credit services provider’s stock valued at $168,000 after acquiring an additional 1,000 shares during the last quarter. ProShare Advisors LLC raised its stake in LendingClub by 8.5% during the first quarter. ProShare Advisors LLC now owns 19,518 shares of the credit services provider’s stock worth $172,000 after purchasing an additional 1,536 shares during the period. SG Americas Securities LLC boosted its holdings in shares of LendingClub by 16.3% in the 2nd quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock valued at $104,000 after purchasing an additional 1,732 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in shares of LendingClub by 9.0% during the 4th quarter. Miracle Mile Advisors LLC now owns 24,134 shares of the credit services provider’s stock valued at $211,000 after buying an additional 2,000 shares during the period. Finally, Swiss National Bank grew its stake in shares of LendingClub by 1.0% during the 1st quarter. Swiss National Bank now owns 216,360 shares of the credit services provider’s stock valued at $1,902,000 after buying an additional 2,100 shares during the period. 74.08% of the stock is currently owned by hedge funds and other 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.