Analysts Set LendingClub Co. (NYSE:LC) Target Price at $11.30

LendingClub Co. (NYSE:LC) has been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $11.42.

LC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods upped their target price on LendingClub from $9.50 to $10.00 and gave the stock a “market perform” rating in a report on Wednesday. Wedbush reaffirmed an “outperform” rating and issued a $11.00 price objective on shares of LendingClub in a research note on Wednesday. Piper Sandler reissued an “overweight” rating and issued a $10.00 price objective (up previously from $9.50) on shares of LendingClub in a research note on Wednesday. Finally, StockNews.com lowered LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd.

Institutional Investors Weigh In On LendingClub

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of LendingClub by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock valued at $98,502,000 after buying an additional 336,827 shares during the last quarter. Jackson Square Partners LLC boosted its holdings in 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 worth $84,987,000 after acquiring an additional 541,538 shares during the last quarter. Dimensional Fund Advisors LP grew 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 worth $40,664,000 after acquiring an additional 73,515 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of 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 valued at $11,497,000 after purchasing an additional 1,583,882 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of 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 valued at $11,749,000 after purchasing an additional 857,371 shares in the last quarter. 74.08% of the stock is owned by institutional investors.

LendingClub Trading Down 0.5 %

LC opened at $9.28 on Wednesday. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 27.29 and a beta of 2.00. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.01. LendingClub has a twelve month low of $4.73 and a twelve month high of $10.92. The company has a 50-day simple moving average of $8.23 and a 200 day simple moving average of $7.64.

LendingClub (NYSE:LC) last issued its 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 return on equity of 3.07% and a net margin of 4.69%. The firm had revenue of $180.69 million for the quarter, compared to the consensus estimate of $174.52 million. During the same quarter last year, the business posted $0.13 EPS. Analysts predict that LendingClub will post 0.23 EPS 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.