LendingClub (NYSE:LC) PT Raised to $10.00 at Keefe, Bruyette & Woods

LendingClub (NYSE:LC) had its price target lifted by Keefe, Bruyette & Woods from $9.50 to $10.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a market perform rating on the credit services provider’s stock.

LC has been the subject of several other reports. StockNews.com cut LendingClub from a hold rating to a sell rating in a report on Friday, March 22nd. Piper Sandler reaffirmed an overweight rating and set a $10.00 price target (up previously from $9.50) on shares of LendingClub in a research note on Wednesday. Finally, Wedbush reiterated an outperform rating and issued a $11.00 price objective on shares of LendingClub in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $11.42.

LendingClub Stock Performance

Shares of LC opened at $8.98 on Wednesday. The company has a market capitalization of $997.86 million, a PE ratio of 26.41 and a beta of 2.00. LendingClub has a 52-week low of $4.73 and a 52-week high of $10.92. The company has a 50-day simple moving average of $8.18 and a 200-day simple moving average of $7.61. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.01.

LendingClub (NYSE:LC) last issued 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. LendingClub had a net margin of 4.69% and a return on equity of 3.07%. The company had revenue of $180.69 million during the quarter, compared to analysts’ expectations of $174.52 million. During the same period last year, the company posted $0.13 earnings per share. Equities research analysts predict that LendingClub will post 0.23 earnings per share for the current fiscal year.

Institutional Trading of LendingClub

Large investors have recently made changes to their positions in the stock. Nordea Investment Management AB boosted its position in LendingClub by 190.8% during the third quarter. Nordea Investment Management AB now owns 609,966 shares of the credit services provider’s stock worth $3,733,000 after acquiring an additional 400,189 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of LendingClub during the third quarter worth $2,970,000. Quantbot Technologies LP acquired a new stake in shares of LendingClub during the third quarter worth $643,000. Asset Management One Co. Ltd. grew its position in shares of LendingClub by 40.7% in 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 purchasing an additional 2,377 shares during the period. Finally, Principal Financial Group Inc. lifted its position in LendingClub by 39.4% during the third quarter. Principal Financial Group Inc. now owns 15,761 shares of the credit services provider’s stock worth $96,000 after buying an additional 4,455 shares during the period. Institutional investors and hedge funds own 74.08% of the company’s stock.

LendingClub Company Profile

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.