Piper Sandler reissued their overweight rating on shares of LendingClub (NYSE:LC – Free Report) in a research note released on Wednesday morning, Benzinga reports. The firm currently has a $10.00 price objective on the credit services provider’s stock, up from their prior price objective of $9.50.
Other equities analysts also recently issued reports about the company. Wedbush reiterated an outperform rating and set a $11.00 target price on shares of LendingClub in a research report on Wednesday. StockNews.com lowered shares of LendingClub from a hold rating to a sell rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $11.42.
View Our Latest Report on LendingClub
LendingClub Price Performance
LendingClub (NYSE:LC – Get Free Report) last released 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 for the quarter, compared to analyst estimates of $174.52 million. LendingClub had a net margin of 4.69% and a return on equity of 3.07%. During the same period in the prior year, the firm earned $0.13 EPS. On average, analysts forecast that LendingClub will post 0.23 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the business. Nordea Investment Management AB boosted its position in shares of LendingClub by 190.8% in the third quarter. Nordea Investment Management AB now owns 609,966 shares of the credit services provider’s stock worth $3,733,000 after buying an additional 400,189 shares during the period. Wellington Management Group LLP purchased a new position in LendingClub in the 3rd quarter worth approximately $2,970,000. Quantbot Technologies LP acquired a new stake in LendingClub in the third quarter valued at approximately $643,000. Asset Management One Co. Ltd. raised its stake in shares of 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 purchasing an additional 2,377 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of 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 purchasing an additional 4,455 shares in the last quarter. Hedge funds and other institutional investors 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.
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