LendingClub Corporation (NYSE:LC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of LendingClub Corporation (NYSE:LC) have earned an average recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $16.5714.

Several analysts have recently issued reports on LC shares. Zacks Research downgraded LendingClub from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Keefe, Bruyette & Woods upped their price objective on LendingClub from $14.00 to $16.50 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Citizens Jmp started coverage on LendingClub in a research report on Monday, July 7th. They issued a “market perform” rating on the stock. Citigroup started coverage on LendingClub in a research report on Monday, July 7th. They issued a “market perform” rating on the stock. Finally, Wall Street Zen upgraded LendingClub from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd.

LendingClub Stock Performance

LendingClub stock opened at $14.97 on Wednesday. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 23.38 and a beta of 2.48. LendingClub has a fifty-two week low of $7.90 and a fifty-two week high of $18.75. The stock’s fifty day moving average is $16.15 and its two-hundred day moving average is $12.84.

LendingClub (NYSE:LC) last posted its earnings results on Tuesday, July 29th. The credit services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.18. LendingClub had a return on equity of 5.66% and a net margin of 8.36%.The company had revenue of $248.44 million for the quarter, compared to analyst estimates of $227.04 million. During the same quarter in the prior year, the company earned $0.13 earnings per share. LendingClub’s revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts forecast that LendingClub will post 0.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Scott Sanborn sold 30,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $16.65, for a total transaction of $499,500.00. Following the transaction, the chief executive officer directly owned 1,270,070 shares in the company, valued at approximately $21,146,665.50. This represents a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Erin Selleck sold 2,390 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $16.82, for a total value of $40,199.80. Following the transaction, the director owned 73,987 shares in the company, valued at $1,244,461.34. This trade represents a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 106,498 shares of company stock worth $1,774,183. 3.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On LendingClub

Large investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd purchased a new position in LendingClub during the first quarter worth about $869,000. Charles Schwab Investment Management Inc. raised its holdings in shares of LendingClub by 8.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,004,943 shares of the credit services provider’s stock worth $10,371,000 after purchasing an additional 80,100 shares during the period. Capital Fund Management S.A. purchased a new position in shares of LendingClub in the 1st quarter worth about $774,000. AlphaQuest LLC raised its holdings in shares of LendingClub by 72.9% in the 1st quarter. AlphaQuest LLC now owns 40,864 shares of the credit services provider’s stock worth $422,000 after purchasing an additional 17,224 shares during the period. Finally, Invst LLC purchased a new position in shares of LendingClub in the 1st quarter worth about $298,000. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

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.