Jefferies Financial Group Increases LendingClub (NYSE:LC) Price Target to $12.00

LendingClub (NYSE:LC) had its target price lifted by Jefferies Financial Group from $11.00 to $12.00 in a research note published on Thursday, Benzinga reports. Jefferies Financial Group currently has a buy rating on the credit services provider’s stock.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler restated an overweight rating and issued a $10.00 price objective (up previously from $9.50) on shares of LendingClub in a research report on Wednesday, May 1st. Wedbush restated an outperform rating and issued a $11.00 price objective on shares of LendingClub in a research report on Wednesday, May 1st. BTIG Research assumed coverage on shares of LendingClub in a research report on Friday, June 7th. They set a buy rating and a $12.00 price target for the company. Keefe, Bruyette & Woods lifted their price target on shares of LendingClub from $9.50 to $10.00 and gave the company a market perform rating in a research report on Wednesday, May 1st. Finally, StockNews.com downgraded shares of LendingClub from a hold rating to a sell rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $11.29.

LendingClub Stock Up 0.7 %

Shares of NYSE:LC opened at $10.38 on Thursday. The company has a market cap of $1.15 billion, a P/E ratio of 30.53 and a beta of 2.06. LendingClub has a 52 week low of $4.73 and a 52 week high of $10.90. The company has a 50-day moving average price of $8.84 and a 200 day moving average price of $8.55.

LendingClub (NYSE:LC) last announced its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.08. The firm had revenue of $180.69 million during the quarter, compared to the consensus estimate of $174.52 million. LendingClub had a net margin of 4.69% and a return on equity of 3.04%. During the same quarter last year, the firm earned $0.13 earnings per share. Analysts expect that LendingClub will post 0.27 EPS for the current year.

Insider Buying and Selling

In related news, Director Erin Selleck sold 4,083 shares of LendingClub stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $8.88, for a total transaction of $36,257.04. Following the completion of the transaction, the director now directly owns 54,571 shares in the company, valued at approximately $484,590.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its position in shares of LendingClub by 45.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 689,028 shares of the credit services provider’s stock worth $5,829,000 after purchasing an additional 213,823 shares during the last quarter. Baader Bank Aktiengesellschaft purchased a new stake in LendingClub in the 2nd quarter worth approximately $600,000. SG Americas Securities LLC grew its stake in LendingClub by 16.3% in the 2nd quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock worth $104,000 after acquiring an additional 1,732 shares during the period. Interval Partners LP purchased a new stake in LendingClub in the 1st quarter worth approximately $2,821,000. Finally, Bayesian Capital Management LP purchased a new stake in LendingClub in the 1st quarter worth approximately $129,000. 74.08% of the stock is currently owned by institutional investors and hedge funds.

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.