LendingClub’s (LC) “Neutral” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their neutral rating on shares of LendingClub (NYSE:LC) in a report published on Monday morning, MarketBeat.com reports. They currently have a $17.00 price objective on the credit services provider’s stock, up from their prior price objective of $14.00.

A number of other analysts have also weighed in on LC. Maxim Group upped their price target on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods raised shares of LendingClub from a “market perform” rating to an “outperform” rating and increased their target price for the company from $11.50 to $15.00 in a research note on Thursday, October 10th. Wedbush increased their target price on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Piper Sandler restated an “overweight” rating and issued a $15.00 price target (up previously from $13.00) on shares of LendingClub in a research report on Thursday, October 24th. Finally, Compass Point upped their price target on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, LendingClub currently has an average rating of “Moderate Buy” and an average price target of $16.00.

LendingClub Stock Up 0.9 %

LendingClub stock opened at $15.88 on Monday. The firm has a 50-day moving average price of $13.93 and a two-hundred day moving average price of $11.35. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 34.52 and a beta of 2.02. LendingClub has a 52-week low of $6.56 and a 52-week high of $17.15.

LendingClub (NYSE:LC) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. The firm had revenue of $201.90 million during the quarter, compared to analyst estimates of $190.40 million. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. LendingClub’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 EPS. Research analysts expect that LendingClub will post 0.47 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Jordan Cheng sold 22,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $14.83, for a total transaction of $326,260.00. Following the transaction, the general counsel now owns 89,385 shares in the company, valued at $1,325,579.55. This represents a 19.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $14.89, for a total transaction of $253,130.00. Following the transaction, the chief executive officer now owns 1,339,273 shares in the company, valued at approximately $19,941,774.97. This trade represents a 1.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,500 shares of company stock worth $803,820 in the last quarter. 3.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. AlphaMark Advisors LLC bought a new stake in LendingClub in the 3rd quarter valued at $32,000. FMR LLC boosted its holdings in LendingClub by 32.1% in the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after purchasing an additional 1,424 shares during the period. nVerses Capital LLC bought a new stake in LendingClub in the 2nd quarter valued at $71,000. Innealta Capital LLC bought a new stake in LendingClub in the 2nd quarter valued at $72,000. Finally, Blue Trust Inc. boosted its holdings in LendingClub by 259.8% in the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock valued at $83,000 after purchasing an additional 5,247 shares during the period. 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.