LendingClub (NYSE:LC) Price Target Raised to $10.00 at Keefe, Bruyette & Woods

LendingClub (NYSE:LC) had its price target boosted by Keefe, Bruyette & Woods from $9.50 to $10.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a market perform rating on the credit services provider’s stock.

Several other research analysts also recently weighed in on the company. Wedbush restated an outperform rating and issued a $11.00 price target on shares of LendingClub in a research note on Wednesday. Piper Sandler reissued an overweight rating and set a $10.00 price target (up from $9.50) on shares of LendingClub in a research note on Wednesday. Finally, StockNews.com cut LendingClub from a hold rating to a sell rating in a report on Friday, March 22nd. 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 company has an average rating of Moderate Buy and a consensus target price of $11.42.

LendingClub Stock Up 19.4 %

NYSE LC opened at $8.98 on Wednesday. The stock’s 50-day moving average price is $8.18 and its 200-day moving average price is $7.61. The company has a market capitalization of $997.86 million, a P/E ratio of 26.41 and a beta of 2.00. 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 52 week low of $4.73 and a 52 week high of $10.92.

LendingClub (NYSE:LC) last released its earnings results on Tuesday, April 30th. The credit services provider reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. The company had revenue of $180.69 million for the quarter, compared to analysts’ expectations of $174.52 million. LendingClub had a net margin of 4.69% and a return on equity of 3.07%. During the same quarter last year, the business earned $0.13 EPS. On average, equities research analysts predict that LendingClub will post 0.23 earnings per share for the current year.

Hedge Funds Weigh In On LendingClub

Several large investors have recently modified their holdings of LC. Capstone Investment Advisors LLC purchased a new position in LendingClub during the first quarter worth $164,000. Vanguard Group Inc. lifted its holdings in shares of LendingClub by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock worth $98,502,000 after acquiring an additional 336,827 shares during the last quarter. Wellington Management Group LLP boosted its stake 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 purchasing an additional 857,371 shares during the period. Sierra Summit Advisors LLC bought a new position in LendingClub during the 4th quarter valued at about $337,000. Finally, G2 Investment Partners Management LLC purchased a new stake in LendingClub in the 4th quarter worth about $1,758,000. Institutional investors own 74.08% of the company’s stock.

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.