LendingClub Co. (NYSE:LC) Given Average Rating of “Hold” by Analysts


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Shares of LendingClub Co. (NYSE:LC) have received an average recommendation of “Hold” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $11.40.

A number of brokerages have recently commented on LC. Credit Suisse Group lifted their target price on LendingClub from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, April 29th. Zacks Investment Research cut LendingClub from a “hold” rating to a “sell” rating in a report on Monday, March 15th. Finally, Wedbush boosted their price objective on LendingClub from $14.00 to $20.50 and gave the company an “outperform” rating in a report on Wednesday, March 17th. They noted that the move was a valuation call.

In other LendingClub news, CEO Scott Sanborn sold 6,249 shares of LendingClub stock in a transaction on Wednesday, April 7th. The stock was sold at an average price of $16.00, for a total transaction of $99,984.00. Following the completion of the sale, the chief executive officer now directly owns 779,229 shares of the company’s stock, valued at approximately $12,467,664. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Valerie Kay sold 2,560 shares of LendingClub stock in a transaction on Tuesday, March 2nd. The shares were sold at an average price of $11.72, for a total value of $30,003.20. Following the sale, the insider now directly owns 81,174 shares of the company’s stock, valued at $951,359.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,880 shares of company stock valued at $289,981. 4.48% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Harbor Investment Advisory LLC bought a new position in shares of LendingClub in the 1st quarter worth $25,000. Charles Schwab Investment Management Inc. raised its position in shares of LendingClub by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 468,388 shares of the credit services provider’s stock worth $2,207,000 after acquiring an additional 2,139 shares in the last quarter. California State Teachers Retirement System raised its position in shares of LendingClub by 3.1% in the 3rd quarter. California State Teachers Retirement System now owns 104,509 shares of the credit services provider’s stock worth $492,000 after acquiring an additional 3,120 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of LendingClub by 74.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,151 shares of the credit services provider’s stock worth $151,000 after acquiring an additional 3,917 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of LendingClub by 3.3% in the 4th quarter. Swiss National Bank now owns 145,560 shares of the credit services provider’s stock worth $1,537,000 after acquiring an additional 4,700 shares in the last quarter. 80.19% of the stock is owned by institutional investors and hedge funds.

NYSE LC traded down $0.12 during trading on Thursday, hitting $14.96. 86,793 shares of the stock traded hands, compared to its average volume of 2,628,241. The company has a market capitalization of $1.45 billion, a P/E ratio of -6.45 and a beta of 1.74. The firm has a 50-day simple moving average of $16.37 and a 200-day simple moving average of $11.05. The company has a quick ratio of 4.14, a current ratio of 4.70 and a debt-to-equity ratio of 1.13. LendingClub has a 12-month low of $4.32 and a 12-month high of $22.68.

LendingClub (NYSE:LC) last announced its earnings results on Wednesday, April 28th. The credit services provider reported ($0.49) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.82) by $0.33. The firm had revenue of $105.80 million during the quarter, compared to analysts’ expectations of $89.93 million. LendingClub had a negative return on equity of 13.79% and a negative net margin of 37.60%. The company’s quarterly revenue was up 40.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.10) EPS. As a group, research analysts predict that LendingClub will post -1.48 EPS for the current fiscal year.

About LendingClub

LendingClub Corporation, operates as a bank holding company for LendingClub Bank, National Association that provides range of financial products and services through a technology-driven platform in the United States. The company provides commercial and industrial, commercial real estate, small business, and equipment loans, as well as leases equipment; and unsecured personal and auto, patient finance, and education finance loans.

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Analyst Recommendations for LendingClub (NYSE:LC)

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