LendingClub Corporation (NYSE:LC) Given Consensus Rating of "Moderate Buy" by Analysts

LendingClub Corporation (NYSE:LC) has received a consensus rating of "Moderate Buy" from ten analysts, with a 12-month price target averaging $21.14. Recent analyst upgrades include Wall Street Zen's move from "sell" to "hold" and Zacks Research's upgrade to "strong-buy." The company announced a $100 million stock buyback plan, indicating potential undervaluation. Insider sales and institutional investments have been active, with insiders selling 113,293 shares valued at $1.98 million in the last three months.

Shares of LendingClub Corporation (NYSE:LC - Get Free Report) have been given an average rating of "Moderate Buy" by the ten analysts that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $21.1429.

AI-Powered Lending Stock Surges on Rate Cut Hopes

LC has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of LendingClub from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Weiss Ratings reissued a "hold (c)" rating on shares of LendingClub in a research report on Wednesday, October 8th. Zacks Research raised LendingClub from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 28th. Keefe, Bruyette & Woods lifted their target price on LendingClub from $20.00 to $22.00 and gave the stock an "outperform" rating in a research report on Friday, November 7th. Finally, BTIG Research raised their price target on LendingClub from $18.00 to $26.00 and gave the stock a "buy" rating in a research note on Thursday, November 6th.

View Our Latest Report on LC

LendingClub Price Performance

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NYSE:LC opened at $17.64 on Thursday. LendingClub has a 12 month low of $7.90 and a 12 month high of $19.88. The firm has a market capitalization of $2.03 billion, a PE ratio of 20.05 and a beta of 2.51. The business's fifty day moving average price is $16.77 and its 200 day moving average price is $14.52.

LendingClub (NYSE:LC - Get Free Report) last released its quarterly earnings data on Wednesday, October 22nd. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.07. LendingClub had a return on equity of 7.68% and a net margin of 10.94%.The business had revenue of $107.79 million during the quarter, compared to analysts' expectations of $256.27 million. During the same period in the prior year, the firm posted $0.13 EPS. The business's quarterly revenue was up 31.8% compared to the same quarter last year. As a group, equities analysts anticipate that LendingClub will post 0.72 EPS for the current year.

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LendingClub announced that its board has approved a stock buyback plan on Wednesday, November 5th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the credit services provider to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Erin Selleck sold 2,390 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $16.82, for a total transaction of $40,199.80. Following the completion of the transaction, the director directly owned 73,987 shares of the company's stock, valued at $1,244,461.34. This represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Andrew Labenne sold 20,903 shares of the firm's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $17.04, for a total transaction of $356,187.12. Following the completion of the sale, the chief financial officer owned 181,750 shares of the company's stock, valued at approximately $3,097,020. The trade was a 10.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 113,293 shares of company stock valued at $1,985,787 over the last three months. 3.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On LendingClub

Institutional investors and hedge funds have recently modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new stake in LendingClub during the third quarter worth $26,000. Quarry LP raised its stake in shares of LendingClub by 1,427.2% during the 1st quarter. Quarry LP now owns 2,810 shares of the credit services provider's stock worth $29,000 after buying an additional 2,626 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in LendingClub during the 1st quarter valued at about $35,000. Headlands Technologies LLC acquired a new position in LendingClub during the second quarter worth about $53,000. Finally, Advisory Services Network LLC purchased a new stake in shares of LendingClub in the third quarter valued at about $59,000. Institutional investors and hedge funds own 74.08% of the company's stock.

LendingClub Company Profile

(Get Free Report)

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.

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