LendingClub Corp (LC) Given Consensus Rating of “Hold” by Analysts

Shares of LendingClub Corp (NYSE:LC) have been assigned an average rating of “Hold” from the fifteen research firms that are covering the stock, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $5.39.

Several research firms have issued reports on LC. Zacks Investment Research upgraded LendingClub from a “sell” rating to a “hold” rating in a research report on Saturday, September 8th. Maxim Group reiterated a “buy” rating and set a $6.00 target price on shares of LendingClub in a research report on Wednesday, August 8th. Citigroup boosted their target price on LendingClub from $3.50 to $4.15 and gave the stock a “neutral” rating in a research report on Monday, July 30th. Finally, Morgan Stanley cut LendingClub from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $6.00 to $6.50 in a research report on Thursday, July 19th.

Shares of LendingClub stock traded up $0.17 on Thursday, hitting $3.65. The stock had a trading volume of 4,388,543 shares, compared to its average volume of 2,642,396. LendingClub has a 52-week low of $2.57 and a 52-week high of $5.95. The company has a debt-to-equity ratio of 3.12, a quick ratio of 8.75 and a current ratio of 10.23. The company has a market capitalization of $1.49 billion, a P/E ratio of -21.47 and a beta of 1.38.

LendingClub (NYSE:LC) last posted its earnings results on Tuesday, August 7th. The credit services provider reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.07. LendingClub had a negative return on equity of 3.78% and a negative net margin of 29.82%. The business had revenue of $176.98 million during the quarter, compared to the consensus estimate of $164.25 million. As a group, analysts forecast that LendingClub will post -0.1 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC grew its holdings in shares of LendingClub by 25.9% in the 2nd quarter. MetLife Investment Advisors LLC now owns 147,374 shares of the credit services provider’s stock worth $559,000 after acquiring an additional 30,309 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of LendingClub by 119.7% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 600,712 shares of the credit services provider’s stock worth $2,277,000 after acquiring an additional 327,326 shares during the period. BlackRock Inc. grew its holdings in shares of LendingClub by 4.0% in the 2nd quarter. BlackRock Inc. now owns 23,148,792 shares of the credit services provider’s stock worth $87,733,000 after acquiring an additional 890,814 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of LendingClub by 69.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,756,600 shares of the credit services provider’s stock worth $6,658,000 after acquiring an additional 717,100 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of LendingClub by 11.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,470,937 shares of the credit services provider’s stock worth $5,575,000 after acquiring an additional 150,462 shares during the period. Institutional investors and hedge funds own 88.04% of the company’s stock.

LendingClub Company Profile

LendingClub Corporation operates an online marketplace platform that connects borrowers and investors in the United States. Its marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient finance loans, auto refinance loans, and unsecured small business loans.

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Analyst Recommendations for LendingClub (NYSE:LC)

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