LendingClub (NYSE:LC) Earns Overweight Rating from Piper Sandler

Piper Sandler reiterated their overweight rating on shares of LendingClub (NYSE:LC) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $10.00 target price on the credit services provider’s stock, up from their previous target price of $9.50.

Several other equities analysts also recently commented on the company. Wedbush reiterated an outperform rating and set a $11.00 price target on shares of LendingClub in a report on Wednesday. StockNews.com lowered 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 four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $11.42.

LendingClub Price Performance

NYSE LC opened at $8.98 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.01. LendingClub has a 12-month low of $4.73 and a 12-month high of $10.92. The company has a 50 day moving average price of $8.18 and a two-hundred day moving average price of $7.61. The stock has a market capitalization of $997.86 million, a PE ratio of 26.41 and a beta of 2.00.

LendingClub (NYSE:LC) last announced its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. The company had revenue of $180.69 million during the quarter, compared to analysts’ expectations 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 previous year, the firm earned $0.13 earnings per share. As a group, equities analysts predict that LendingClub will post 0.23 earnings per share for the current fiscal year.

Institutional Trading of LendingClub

Several hedge funds and other institutional investors have recently bought and sold shares of LC. Vanguard Group Inc. grew its holdings in shares of LendingClub by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock worth $98,502,000 after purchasing an additional 336,827 shares in the last quarter. Jackson Square Partners LLC lifted its position in LendingClub by 5.9% in the fourth quarter. Jackson Square Partners LLC now owns 9,723,943 shares of the credit services provider’s stock worth $84,987,000 after purchasing an additional 541,538 shares during the period. Dimensional Fund Advisors LP boosted its stake in LendingClub by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,652,580 shares of the credit services provider’s stock worth $40,664,000 after buying an additional 73,515 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in LendingClub by 526.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,884,751 shares of the credit services provider’s stock valued at $11,497,000 after buying an additional 1,583,882 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of LendingClub by 176.1% during the 4th quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock worth $11,749,000 after acquiring an additional 857,371 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.