LendingClub (NYSE:LC) Upgraded at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of LendingClub (NYSE:LC) from a neutral rating to a buy rating in a research report released on Wednesday, PriceTargets.com reports. Janney Montgomery Scott currently has $32.00 target price on the credit services provider’s stock.

A number of other equities analysts have also weighed in on the stock. Wedbush started coverage on shares of LendingClub in a research report on Wednesday, December 22nd. They issued an outperform rating and a $40.00 price objective on the stock. Compass Point upgraded shares of LendingClub from a neutral rating to a buy rating and boosted their target price for the stock from $14.00 to $55.00 in a research report on Thursday, October 28th. Zacks Investment Research upgraded shares of LendingClub from a hold rating to a strong-buy rating and set a $29.00 target price on the stock in a research report on Wednesday, January 5th. Credit Suisse Group boosted their target price on shares of LendingClub from $28.00 to $34.00 and gave the stock a neutral rating in a research report on Thursday, October 28th. Finally, Maxim Group boosted their target price on shares of LendingClub from $35.00 to $60.00 and gave the stock a buy rating in a research report on Monday, November 1st. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, LendingClub presently has an average rating of Buy and an average price target of $41.67.

NYSE:LC opened at $24.11 on Wednesday. The firm’s fifty day moving average price is $30.80 and its 200 day moving average price is $28.13. LendingClub has a 1-year low of $9.50 and a 1-year high of $49.21. The company has a current ratio of 1.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.37.

LendingClub (NYSE:LC) last posted its quarterly earnings data on Wednesday, October 27th. The credit services provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.64. LendingClub had a negative net margin of 5.88% and a positive return on equity of 2.56%. The firm had revenue of $246.20 million for the quarter, compared to analyst estimates of $221.96 million. During the same period last year, the firm posted ($0.25) EPS. LendingClub’s quarterly revenue was up 229.6% on a year-over-year basis. Research analysts expect that LendingClub will post 0.6 EPS for the current year.

In related news, insider Annie Armstrong sold 3,686 shares of the stock in a transaction that occurred on Monday, November 8th. The shares were sold at an average price of $45.96, for a total transaction of $169,408.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan C. Athey sold 4,338 shares of the stock in a transaction that occurred on Wednesday, December 15th. The stock was sold at an average price of $26.10, for a total transaction of $113,221.80. The disclosure for this sale can be found here. Insiders sold a total of 15,396 shares of company stock worth $481,536 over the last quarter. Insiders own 4.48% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Grassi Investment Management boosted its holdings in LendingClub by 4.3% in the 4th quarter. Grassi Investment Management now owns 109,000 shares of the credit services provider’s stock worth $2,636,000 after acquiring an additional 4,500 shares during the period. UBS Asset Management Americas Inc. boosted its stake in LendingClub by 1.3% during the third quarter. UBS Asset Management Americas Inc. now owns 71,113 shares of the credit services provider’s stock valued at $2,008,000 after buying an additional 914 shares in the last quarter. Comerica Bank bought a new position in LendingClub during the third quarter valued at about $1,499,000. Bank of New York Mellon Corp boosted its position in shares of LendingClub by 22.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 388,302 shares of the credit services provider’s stock valued at $10,965,000 after purchasing an additional 72,342 shares during the period. Finally, Cetera Advisors LLC acquired a new position in shares of LendingClub in the 3rd quarter valued at $359,000. Hedge funds and other institutional investors own 80.33% of the company’s stock.

About LendingClub

LendingClub Corp. engages in the operation of education and patient finance and auto loan services. Its loan product types consists of personal, education and patient finance, and auto. The company was founded by Renaud Laplanche and Soulaiman Htite on October 2, 2006 and is headquartered in San Francisco, CA.

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Analyst Recommendations for LendingClub (NYSE:LC)

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