LendingClub Co. (NYSE:LC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of LendingClub Co. (NYSE:LCGet Rating) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $37.40.

A number of equities analysts have commented on LC shares. Credit Suisse Group reduced their target price on shares of LendingClub from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, July 28th. Wedbush upped their price objective on shares of LendingClub to $20.00 in a report on Tuesday, July 26th. Finally, StockNews.com upgraded shares of LendingClub from a “hold” rating to a “buy” rating in a report on Wednesday.

Insider Activity

In related news, SVP Fergal Stack sold 6,040 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $13.86, for a total value of $83,714.40. Following the transaction, the senior vice president now owns 136,514 shares in the company, valued at approximately $1,892,084.04. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Annie Armstrong sold 2,027 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $15.00, for a total value of $30,405.00. Following the transaction, the insider now owns 101,601 shares in the company, valued at approximately $1,524,015. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Fergal Stack sold 6,040 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $13.86, for a total transaction of $83,714.40. Following the completion of the transaction, the senior vice president now owns 136,514 shares in the company, valued at approximately $1,892,084.04. The disclosure for this sale can be found here. Insiders have sold a total of 43,083 shares of company stock worth $598,332 over the last 90 days. 3.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LendingClub

Several hedge funds have recently bought and sold shares of LC. Bank of America Corp DE boosted its position in LendingClub by 154.0% in the 1st quarter. Bank of America Corp DE now owns 1,990,352 shares of the credit services provider’s stock worth $31,408,000 after purchasing an additional 1,206,662 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of LendingClub by 725.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,130,300 shares of the credit services provider’s stock valued at $17,836,000 after buying an additional 993,300 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of LendingClub by 98.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,989,500 shares of the credit services provider’s stock valued at $23,257,000 after buying an additional 989,200 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of LendingClub during the 2nd quarter valued at approximately $12,641,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of LendingClub by 348.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,166,354 shares of the credit services provider’s stock valued at $18,405,000 after buying an additional 905,980 shares in the last quarter. Hedge funds and other institutional investors own 81.80% of the company’s stock.

LendingClub Stock Performance

Shares of LendingClub stock opened at $12.32 on Wednesday. The company has a market capitalization of $1.28 billion, a PE ratio of 4.65 and a beta of 2.01. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.08 and a current ratio of 1.12. The company has a 50-day simple moving average of $13.92 and a two-hundred day simple moving average of $14.13. LendingClub has a one year low of $11.16 and a one year high of $49.21.

LendingClub (NYSE:LCGet Rating) last announced its earnings results on Wednesday, July 27th. The credit services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The business had revenue of $330.10 million during the quarter, compared to the consensus estimate of $298.97 million. LendingClub had a net margin of 24.75% and a return on equity of 27.96%. The firm’s revenue was up 61.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. Research analysts expect that LendingClub will post 1.5 EPS for the current fiscal year.

About LendingClub

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LendingClub Corporation, operates as a bank holding company for LendingClub Bank, National Association that provides range of financial products and services through a technology-driven platform in the United States. The company provides commercial and industrial, commercial real estate, small business, and equipment loans, as well as leases equipment; and unsecured personal and auto, patient finance, and education finance loans.

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Analyst Recommendations for LendingClub (NYSE:LC)

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