LendingClub (NYSE:LC – Get Free Report)’s stock had its “overweight” rating restated by equities research analysts at Piper Sandler in a report issued on Wednesday, Benzinga reports. They currently have a $10.00 price target on the credit services provider’s stock, up from their previous price target of $9.50. Piper Sandler’s price objective would suggest a potential upside of 11.61% from the company’s current price.
LC has been the subject of a number of other research reports. Wedbush reaffirmed an “outperform” rating and set a $11.00 price objective on shares of LendingClub in a research report on Wednesday. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.42.
LendingClub Stock Up 19.1 %
NYSE LC traded up $1.44 on Wednesday, hitting $8.96. The stock had a trading volume of 3,636,381 shares, compared to its average volume of 1,458,902. The business’s fifty day moving average price is $8.16 and its 200 day moving average price is $7.60. 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 has a 52-week low of $4.73 and a 52-week high of $10.92. The stock has a market cap of $995.64 million, a price-to-earnings ratio of 23.50 and a beta of 1.98.
LendingClub (NYSE:LC – Get Free Report) last posted its earnings results on Tuesday, April 30th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 4.50% and a return on equity of 3.21%. During the same period in the previous year, the firm posted $0.13 earnings per share. Equities research analysts anticipate that LendingClub will post 0.23 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in LendingClub by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock valued at $98,502,000 after purchasing an additional 336,827 shares during the period. Wellington Management Group LLP raised its stake in LendingClub by 176.1% during the 4th quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock valued at $11,749,000 after acquiring an additional 857,371 shares in the last quarter. Sierra Summit Advisors LLC bought a new stake in LendingClub during the 4th quarter valued at $337,000. G2 Investment Partners Management LLC bought a new stake in LendingClub during the 4th quarter valued at $1,758,000. Finally, K2 Principal Fund L.P. bought a new stake in LendingClub during the 4th quarter valued at $1,017,000. Institutional investors and hedge funds own 74.08% of the company’s stock.
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.