LendingClub’s (LC) Neutral Rating Reaffirmed at JPMorgan Chase & Co.

LendingClub (NYSE:LC)‘s stock had its “neutral” rating restated by analysts at JPMorgan Chase & Co. in a report issued on Monday, MarketBeat Ratings reports. They presently have a $17.00 price objective on the credit services provider’s stock, up from their prior price objective of $14.00. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 8.42% from the stock’s previous close.

Several other research analysts have also commented on LC. Keefe, Bruyette & Woods raised LendingClub from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $11.50 to $15.00 in a research report on Thursday, October 10th. Maxim Group raised their price target on shares of LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. Compass Point boosted their price objective on shares of LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Wedbush increased 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, StockNews.com lowered shares of LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.75.

LendingClub Stock Down 5.8 %

Shares of LC stock traded down $0.96 on Monday, hitting $15.68. The stock had a trading volume of 578,745 shares, compared to its average volume of 1,484,075. LendingClub has a one year low of $6.56 and a one year high of $17.15. The business has a 50 day moving average price of $13.63 and a 200 day moving average price of $11.23. The company has a market cap of $1.76 billion, a PE ratio of 33.80 and a beta of 2.01.

LendingClub (NYSE:LC) last announced its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.06. The firm had revenue of $201.90 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.05 EPS. Equities research analysts expect that LendingClub will post 0.47 EPS for the current year.

Insider Activity at LendingClub

In other LendingClub news, Director John C. Morris sold 2,500 shares of the stock in a transaction dated 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 directly owns 203,348 shares of the company’s stock, valued at approximately $2,920,077.28. This trade represents a 1.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $14.89, for a total value of $253,130.00. Following the transaction, the chief executive officer now owns 1,339,273 shares of the company’s stock, valued at $19,941,774.97. The trade was a 1.25 % 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 $996,940 in the last ninety days. Company insiders own 3.31% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. AlphaMark Advisors LLC purchased a new stake in LendingClub in the 3rd quarter worth approximately $32,000. FMR LLC lifted its holdings in LendingClub by 32.1% during the third 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 in the last quarter. Blue Trust Inc. lifted its stake in LendingClub by 259.8% in the 3rd 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 acquired a new stake in shares of LendingClub in the second quarter worth approximately $71,000. Finally, Innealta Capital LLC purchased a new stake in shares of LendingClub during the second quarter worth $72,000. 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.