LendingClub (NYSE:LC) Price Target Raised to $10.00

LendingClub (NYSE:LC) had its target price hoisted by stock analysts at Keefe, Bruyette & Woods from $9.50 to $10.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the credit services provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 7.76% from the company’s current price.

A number of other analysts have also commented on LC. Piper Sandler reiterated an “overweight” rating and issued a $10.00 price objective (up from $9.50) on shares of LendingClub in a research report on Wednesday. StockNews.com cut shares of LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. Finally, Wedbush restated an “outperform” rating and issued a $11.00 price objective on shares of LendingClub in a report on Wednesday. One equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.42.

LendingClub Price Performance

Shares of LC stock traded down $0.05 during trading hours on Wednesday, reaching $9.28. 1,669,768 shares of the company were exchanged, compared to its average volume of 1,486,852. LendingClub has a fifty-two week low of $4.73 and a fifty-two week high of $10.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.89 and a quick ratio of 0.83. The stock’s fifty day moving average is $8.23 and its two-hundred day moving average is $7.64. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 27.29 and a beta of 2.00.

LendingClub (NYSE:LC) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.08. The firm had revenue of $180.69 million for the quarter, compared to the consensus estimate of $174.52 million. LendingClub had a return on equity of 3.07% and a net margin of 4.69%. During the same quarter in the prior year, the business earned $0.13 EPS. Sell-side analysts forecast that LendingClub will post 0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LendingClub

Hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its holdings in shares of LendingClub by 363.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,999 shares of the credit services provider’s stock valued at $61,000 after purchasing an additional 5,489 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in 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 buying an additional 2,377 shares in the last quarter. Maltin Wealth Management Inc. bought a new position in LendingClub in the fourth quarter valued at approximately $87,000. Pathstone Family Office LLC bought a new stake in shares of LendingClub during the third quarter worth $65,000. Finally, Acadian Asset Management LLC bought a new stake in shares of LendingClub during the third quarter worth $91,000. 74.08% of the stock is currently owned by institutional investors and hedge funds.

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.