Keefe, Bruyette & Woods Boosts LendingClub (NYSE:LC) Price Target to $10.00

LendingClub (NYSE:LC) had its price objective lifted by Keefe, Bruyette & Woods from $9.50 to $10.00 in a research note released on Wednesday, Benzinga reports. The firm currently has a market perform rating on the credit services provider’s stock.

A number of other equities analysts have also recently weighed in on LC. Piper Sandler reissued an overweight rating and set a $10.00 price target (up from $9.50) on shares of LendingClub in a research report on Wednesday. StockNews.com downgraded LendingClub from a hold rating to a sell rating in a report on Friday, March 22nd. Finally, Wedbush reiterated an outperform rating and set a $11.00 price objective on shares of LendingClub in a report on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $11.42.

LendingClub Trading Down 0.5 %

Shares of NYSE LC opened at $9.28 on Wednesday. LendingClub has a 1-year low of $4.73 and a 1-year high of $10.92. The company has a 50-day moving average of $8.23 and a two-hundred day moving average of $7.66. The company has a market cap of $1.03 billion, a PE ratio of 27.29 and a beta of 2.00.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.08. LendingClub had a return on equity of 3.04% and a net margin of 4.69%. The business had revenue of $180.69 million for the quarter, compared to analyst estimates of $174.52 million. During the same quarter in the prior year, the firm posted $0.13 earnings per share. As a group, equities research analysts forecast that LendingClub will post 0.26 earnings per share for the current year.

Institutional Trading of LendingClub

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in LendingClub during the third quarter worth $157,000. Asset Management One Co. Ltd. grew its holdings in LendingClub by 40.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 8,217 shares of the credit services provider’s stock valued at $50,000 after buying an additional 2,377 shares in the last quarter. Brighton Jones LLC increased its position in LendingClub by 28.4% during the 3rd quarter. Brighton Jones LLC now owns 444,801 shares of the credit services provider’s stock worth $2,713,000 after buying an additional 98,425 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of LendingClub by 39.4% during the third quarter. Principal Financial Group Inc. now owns 15,761 shares of the credit services provider’s stock worth $96,000 after buying an additional 4,455 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of LendingClub by 272.6% in the third quarter. Victory Capital Management Inc. now owns 41,307 shares of the credit services provider’s stock valued at $252,000 after acquiring an additional 30,221 shares during the period. Institutional investors and hedge funds own 74.08% of the company’s stock.

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.