FBR & Co Reiterates “$7.00” Price Target for LendingClub Corp. (LC)
LendingClub Corp. (NYSE:LC) received a $7.00 price objective from equities research analysts at FBR & Co in a report released on Sunday. The brokerage currently has a a “hold” rating on the stock. FBR & Co’s price objective points to a potential upside of 30.11% from the stock’s current price.
Several other research firms have also recently issued reports on LC. BTIG Research set a $9.00 target price on LendingClub Corp. and gave the stock a “buy” rating in a research report on Thursday, September 29th. Wedbush began coverage on LendingClub Corp. in a research report on Monday, October 10th. They set an “underperform” rating and a $3.75 target price on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $5.00 target price on shares of LendingClub Corp. in a research report on Monday, August 15th. Zacks Investment Research upgraded LendingClub Corp. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 12th. Finally, Vetr cut LendingClub Corp. from a “hold” rating to a “sell” rating and set a $5.36 target price on the stock. in a research report on Monday, September 12th. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $12.68.
Shares of LendingClub Corp. (NYSE:LC) traded down 7.900% during trading on Friday, reaching $4.955. The company had a trading volume of 14,763,281 shares. The firm’s 50 day moving average price is $5.84 and its 200 day moving average price is $5.56. The firm’s market capitalization is $1.94 billion. LendingClub Corp. has a 12 month low of $3.44 and a 12 month high of $15.00.
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LendingClub Corp. (NYSE:LC) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.07. The company had revenue of $102.40 million for the quarter, compared to analysts’ expectations of $110.65 million. LendingClub Corp. had a negative net margin of 14.22% and a negative return on equity of 2.93%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 earnings per share. Equities analysts predict that LendingClub Corp. will post ($0.14) EPS for the current year.
In related news, insider Sandeep Bhandari sold 9,771 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $5.55, for a total transaction of $54,229.05. Following the transaction, the insider now owns 219,600 shares in the company, valued at $1,218,780. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sameer Gulati sold 6,105 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $6.08, for a total transaction of $37,118.40. Following the transaction, the insider now owns 958,692 shares in the company, valued at approximately $5,828,847.36. The disclosure for this sale can be found here. 11.40% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of LC. Ameriprise Financial Inc. raised its position in LendingClub Corp. by 36.5% in the second quarter. Ameriprise Financial Inc. now owns 23,208 shares of the company’s stock worth $100,000 after buying an additional 6,205 shares in the last quarter. Psagot Investment House Ltd. raised its position in LendingClub Corp. by 166.7% in the second quarter. Psagot Investment House Ltd. now owns 24,000 shares of the company’s stock worth $103,000 after buying an additional 15,000 shares in the last quarter. Geduld E E bought a new position in LendingClub Corp. during the second quarter worth approximately $108,000. Ameritas Investment Partners Inc. bought a new position in LendingClub Corp. during the second quarter worth approximately $110,000. Finally, Principal Financial Group Inc. bought a new position in LendingClub Corp. during the second quarter worth approximately $111,000. Institutional investors and hedge funds own 80.80% of the company’s stock.
About LendingClub Corp.
LendingClub Corporation (Lending Club) provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that is only available on a limited basis to large institutional investors.
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