LendingClub Corporation (NYSE:LC) Given Average Rating of “Moderate Buy” by Analysts

Shares of LendingClub Corporation (NYSE:LC) have received an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $21.5714.

A number of brokerages have commented on LC. Piper Sandler reissued an “overweight” rating and set a $20.00 target price (up previously from $18.00) on shares of LendingClub in a report on Thursday, October 23rd. Citizens Jmp upgraded LendingClub from a “market perform” rating to an “outperform” rating and set a $23.00 price target for the company in a research report on Monday, November 10th. Weiss Ratings restated a “hold (c)” rating on shares of LendingClub in a report on Monday, December 15th. Keefe, Bruyette & Woods lifted their target price on shares of LendingClub from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Finally, BTIG Research increased their target price on shares of LendingClub from $18.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, November 6th.

LendingClub Price Performance

Shares of NYSE:LC opened at $19.58 on Monday. The business’s 50 day moving average price is $17.79 and its 200-day moving average price is $15.58. LendingClub has a 1 year low of $7.90 and a 1 year high of $20.94. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 22.25 and a beta of 2.14.

LendingClub (NYSE:LC) last released its quarterly earnings results on Wednesday, October 22nd. The credit services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.07. The firm had revenue of $107.79 million during the quarter, compared to the consensus estimate of $256.27 million. LendingClub had a net margin of 10.94% and a return on equity of 7.68%. The company’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 EPS. On average, sell-side analysts expect that LendingClub will post 0.72 earnings per share for the current year.

LendingClub announced that its board has approved a share buyback plan on Wednesday, November 5th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the credit services provider to buy up to 4.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other LendingClub news, CEO Scott Sanborn sold 30,000 shares of the business’s stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $19.29, for a total transaction of $578,700.00. Following the transaction, the chief executive officer owned 1,210,070 shares of the company’s stock, valued at approximately $23,342,250.30. The trade was a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Erin Selleck sold 2,390 shares of the company’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $19.47, for a total value of $46,533.30. Following the completion of the sale, the director owned 76,377 shares of the company’s stock, valued at approximately $1,487,060.19. The trade was a 3.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On LendingClub

Several institutional investors and hedge funds have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of LendingClub during the 3rd quarter worth approximately $26,000. Quarry LP grew its position in LendingClub by 1,427.2% in the first quarter. Quarry LP now owns 2,810 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 2,626 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in LendingClub during the first quarter worth $35,000. Advisory Services Network LLC acquired a new stake in LendingClub during the third quarter worth $59,000. Finally, Jones Financial Companies Lllp raised its position in LendingClub by 46.7% in the third quarter. Jones Financial Companies Lllp now owns 4,051 shares of the credit services provider’s stock valued at $67,000 after purchasing an additional 1,290 shares during the period. 74.08% of the stock is currently owned by institutional investors and hedge funds.

LendingClub Company Profile

LendingClub Corporation operates an online lending marketplace that connects borrowers seeking personal and small business credit with individual and institutional investors. The platform leverages technology to streamline the loan application and underwriting process, offering unsecured personal loans, auto refinancing, and small business loans. In addition to lending products, LendingClub provides high-yield savings accounts and certificates of deposit through its banking charter, following its acquisition of Radius Bank in 2021.

Founded in 2006 by Renaud Laplanche, LendingClub pioneered peer-to-peer lending in the United States, helping to democratize access to credit and investment opportunities.