Keefe, Bruyette & Woods Boosts LendingClub (NYSE:LC) Price Target to $11.50

LendingClub (NYSE:LC) had its target price increased by Keefe, Bruyette & Woods from $10.00 to $11.50 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a market perform rating on the credit services provider’s stock.

A number of other equities research analysts have also issued reports on the stock. Wedbush reaffirmed an outperform rating and set a $11.00 price objective on shares of LendingClub in a report on Wednesday, May 1st. Piper Sandler reaffirmed an overweight rating and set a $10.00 price objective (up from $9.50) on shares of LendingClub in a report on Wednesday, May 1st. BTIG Research initiated coverage on shares of LendingClub in a report on Friday, June 7th. They set a buy rating and a $12.00 price objective for the company. Finally, Jefferies Financial Group increased their price objective on shares of LendingClub from $11.00 to $12.00 and gave the company a buy rating in a report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, LendingClub currently has a consensus rating of Moderate Buy and a consensus target price of $12.64.

LendingClub Trading Down 6.8 %

LendingClub stock opened at $10.64 on Wednesday. The firm has a 50 day moving average of $9.19 and a 200 day moving average of $8.73. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 31.29 and a beta of 2.06. LendingClub has a 12-month low of $4.73 and a 12-month high of $12.87.

LendingClub (NYSE:LC) last released its earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.09. The company had revenue of $187.20 million during the quarter, compared to analyst estimates of $177.03 million. LendingClub had a net margin of 5.61% and a return on equity of 3.41%. The firm’s quarterly revenue was down 19.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 EPS. On average, analysts predict that LendingClub will post 0.34 EPS for the current year.

Insider Activity

In other news, Director Erin Selleck sold 4,083 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $8.88, for a total transaction of $36,257.04. Following the completion of the transaction, the director now directly owns 54,571 shares in the company, valued at approximately $484,590.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.31% of the company’s stock.

Institutional Trading of LendingClub

A number of institutional investors have recently bought and sold shares of LC. SG Americas Securities LLC lifted its position in LendingClub by 64.2% in the fourth quarter. SG Americas Securities LLC now owns 42,244 shares of the credit services provider’s stock worth $369,000 after buying an additional 16,519 shares during the last quarter. Miracle Mile Advisors LLC lifted its position in shares of LendingClub by 9.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 24,134 shares of the credit services provider’s stock worth $211,000 after purchasing an additional 2,000 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of LendingClub by 617.9% during the fourth quarter. International Assets Investment Management LLC now owns 265,696 shares of the credit services provider’s stock worth $2,322,000 after purchasing an additional 228,684 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of LendingClub by 2.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 221,735 shares of the credit services provider’s stock worth $1,938,000 after purchasing an additional 6,009 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of LendingClub by 363.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,999 shares of the credit services provider’s stock worth $61,000 after purchasing an additional 5,489 shares during the last quarter. 74.08% of the stock is currently owned by 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.