LendingClub Co. (NYSE:LC - Get Free Report) traded up 4.9% during trading on Tuesday . The stock traded as high as $13.53 and last traded at $13.39. 1,342,866 shares were traded during trading, a decline of 4% from the average session volume of 1,396,214 shares. The stock had previously closed at $12.77.
LC has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price target on LendingClub from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Thursday, July 18th. Keefe, Bruyette & Woods raised shares of LendingClub from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $11.50 to $15.00 in a research report on Thursday, October 10th. Wedbush upped their price target on shares of LendingClub from $11.00 to $14.00 and gave the company an "outperform" rating in a research report on Wednesday, July 31st. Piper Sandler reiterated an "overweight" rating and set a $13.00 price objective (up from $10.00) on shares of LendingClub in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their target price on LendingClub from $12.00 to $14.00 and gave the company an "overweight" rating in a report on Tuesday, August 20th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.57.
Check Out Our Latest Stock Analysis on LC
The stock's 50 day moving average price is $11.25 and its two-hundred day moving average price is $9.76. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 39.91 and a beta of 2.04.
LendingClub (NYSE:LC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.09. The company had revenue of $187.20 million during the quarter, compared to the consensus estimate of $177.03 million. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The business's quarterly revenue was down 19.5% on a year-over-year basis. During the same period last year, the business earned $0.09 EPS. On average, equities analysts expect that LendingClub Co. will post 0.38 EPS for the current fiscal year.
In other news, CEO Scott Sanborn sold 17,000 shares of the firm's stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $11.09, for a total transaction of $188,530.00. Following the transaction, the chief executive officer now owns 1,356,273 shares in the company, valued at approximately $15,041,067.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 51,703 shares of company stock worth $562,705 over the last ninety days. 3.31% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the stock. EntryPoint Capital LLC grew its holdings in LendingClub by 44.9% during the first quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider's stock valued at $66,000 after purchasing an additional 2,328 shares during the last quarter. nVerses Capital LLC acquired a new position in LendingClub in the 2nd quarter valued at $71,000. Innealta Capital LLC bought a new position in LendingClub in the 2nd quarter worth $72,000. SG Americas Securities LLC lifted its position in LendingClub by 16.3% during the 2nd quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider's stock worth $104,000 after acquiring an additional 1,732 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new stake in LendingClub during the first quarter valued at about $129,000. 74.08% of the stock is owned by institutional investors.
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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