LendingClub (NYSE:LC) Price Target Increased to $19.00 by Analysts at Maxim Group

by · The Cerbat Gem

LendingClub (NYSE:LC – Get Free Report) had its target price boosted by research analysts at Maxim Group from $16.00 to $19.00 in a research note issued on Friday, Briefing.com reports. The firm presently has a “buy” rating on the credit services provider’s stock. Maxim Group’s price objective would indicate a potential upside of 37.58% from the stock’s current price.

Other analysts have also issued reports about the company. Keefe, Bruyette & Woods raised LendingClub from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $11.50 to $15.00 in a report on Thursday, October 10th. Wedbush increased their price target on shares of LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday. Jefferies Financial Group boosted their price objective on shares of LendingClub from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. raised their target price on LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, Compass Point boosted their price target on LendingClub from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.88.

Read Our Latest Research Report on LC

LendingClub Trading Up 10.8 %

NYSE:LC opened at $13.81 on Friday. The stock has a market capitalization of $1.53 billion, a PE ratio of 40.62 and a beta of 2.04. The firm has a fifty day simple moving average of $11.64 and a 200 day simple moving average of $9.98. LendingClub has a 1-year low of $4.73 and a 1-year high of $15.52.

LendingClub (NYSE:LC – Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.06. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. The company had revenue of $201.90 million for the quarter, compared to analyst estimates of $190.40 million. During the same period in the prior year, the firm earned $0.05 earnings per share. The company’s revenue was up .5% on a year-over-year basis. On average, equities analysts predict that LendingClub will post 0.38 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $11.36, for a total value of $193,120.00. Following the transaction, the chief executive officer now owns 1,373,273 shares of the company’s stock, valued at approximately $15,600,381.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 51,703 shares of company stock worth $562,705. 3.31% of the stock is owned by company insiders.

Institutional Trading of LendingClub

Hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its position in LendingClub by 120.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider’s stock valued at $17,351,000 after purchasing an additional 828,958 shares during the last quarter. Vanguard Group Inc. boosted its position in LendingClub by 3.1% during the 4th 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 period. American Century Companies Inc. grew its holdings in LendingClub by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock worth $14,032,000 after acquiring an additional 329,279 shares during the last quarter. Interval Partners LP bought a new position in shares of LendingClub during the first quarter valued at about $2,821,000. Finally, Dimensional Fund Advisors LP increased its holdings in LendingClub by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock valued at $49,901,000 after purchasing an additional 300,536 shares during the period. Hedge funds and other institutional investors own 74.08% of the company’s stock.

LendingClub Company Profile

(Get Free Report)

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.

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