Zacks Research cut shares of LendingClub (NYSE:LC – Free Report) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.
Other analysts have also recently issued research reports about the company. Stephens began coverage on LendingClub in a research report on Thursday, June 12th. They set an “overweight” rating and a $15.00 price objective for the company. Wall Street Zen upgraded LendingClub from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Citizens Jmp initiated coverage on LendingClub in a report on Monday, July 7th. They issued a “market perform” rating on the stock. Piper Sandler set a $15.50 price objective on shares of LendingClub and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Finally, Citigroup began coverage on shares of LendingClub in a research note on Monday, July 7th. They issued a “market perform” rating for the company. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.57.
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LendingClub Stock Performance
LendingClub stock opened at $14.93 on Monday. LendingClub has a twelve month low of $7.90 and a twelve month high of $18.75. The firm has a market cap of $1.71 billion, a PE ratio of 23.33 and a beta of 2.48. The firm’s 50 day moving average price is $16.01 and its two-hundred day moving average price is $12.62.
LendingClub (NYSE:LC – Get Free Report) last issued its earnings results on Tuesday, July 29th. The credit services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.18. LendingClub had a net margin of 8.36% and a return on equity of 5.66%. The company had revenue of $248.44 million during the quarter, compared to analyst estimates of $227.04 million. During the same quarter last year, the business posted $0.13 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities analysts anticipate that LendingClub will post 0.72 EPS for the current fiscal year.
Insider Buying and Selling
In other LendingClub news, Director Erin Selleck sold 2,390 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $16.82, for a total transaction of $40,199.80. Following the completion of the sale, the director owned 73,987 shares of the company’s stock, valued at $1,244,461.34. This represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Sanborn sold 30,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $17.04, for a total value of $511,200.00. Following the transaction, the chief executive officer owned 1,240,070 shares in the company, valued at approximately $21,130,792.80. This trade represents a 2.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 106,498 shares of company stock worth $1,774,183. 3.19% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in LendingClub by 8.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,004,943 shares of the credit services provider’s stock valued at $10,371,000 after acquiring an additional 80,100 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in LendingClub during the 1st quarter valued at approximately $869,000. Capital Fund Management S.A. acquired a new stake in LendingClub in the 1st quarter valued at approximately $774,000. AlphaQuest LLC increased its position in 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 buying an additional 17,224 shares during the period. Finally, Nuveen LLC bought a new position in LendingClub in the 1st quarter worth approximately $16,329,000. Institutional investors and hedge funds own 74.08% of the company’s stock.
About LendingClub
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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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