Brokerages Set LendingClub Co. (NYSE:LC) PT at $11.30

LendingClub Co. (NYSE:LC) has been given an average rating of “Moderate Buy” by the five ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $11.42.

Several research firms recently issued reports on LC. Keefe, Bruyette & Woods increased their target price on LendingClub from $9.50 to $10.00 and gave the stock a “market perform” rating in a research report on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $11.00 price objective on shares of LendingClub in a report on Wednesday. StockNews.com cut shares of LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. Finally, Piper Sandler restated an “overweight” rating and set a $10.00 target price (up previously from $9.50) on shares of LendingClub in a research report on Wednesday.

Institutional Investors Weigh In On LendingClub

A number of hedge funds have recently bought and sold shares of LC. Nisa Investment Advisors LLC boosted its holdings in shares of LendingClub by 363.5% in the 4th 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 period. Asset Management One Co. Ltd. increased its position in LendingClub by 40.7% during the third quarter. Asset Management One Co. Ltd. now owns 8,217 shares of the credit services provider’s stock valued at $50,000 after acquiring an additional 2,377 shares during the last quarter. Maltin Wealth Management Inc. bought a new position in LendingClub during the fourth quarter valued at $87,000. Pathstone Family Office LLC bought a new stake in shares of LendingClub in the 3rd quarter worth about $65,000. Finally, Acadian Asset Management LLC bought a new stake in shares of LendingClub in the 3rd quarter worth about $91,000. Hedge funds and other institutional investors own 74.08% of the company’s stock.

LendingClub Stock Performance

Shares of NYSE LC opened at $9.28 on Wednesday. The stock has a market cap of $1.03 billion, a PE ratio of 27.29 and a beta of 2.00. LendingClub has a 1 year low of $4.73 and a 1 year high of $10.92. The firm has a fifty day moving average price of $8.23 and a 200-day moving average price of $7.64. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.89 and a quick ratio of 0.83.

LendingClub (NYSE:LC) last issued its earnings results on Tuesday, April 30th. The credit services provider reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.08. The company had revenue of $180.69 million during the quarter, compared to the consensus estimate of $174.52 million. LendingClub had a net margin of 4.69% and a return on equity of 3.07%. During the same quarter in the prior year, the firm posted $0.13 EPS. Equities analysts anticipate that LendingClub will post 0.23 earnings per share for the current fiscal year.

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.