LendingClub (NYSE:LC) Given New $17.00 Price Target at Wedbush

LendingClub (NYSE:LC) had its target price raised by Wedbush from $14.00 to $17.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the credit services provider’s stock. Wedbush also issued estimates for LendingClub’s Q4 2024 earnings at $0.13 EPS, FY2024 earnings at $0.50 EPS, Q1 2025 earnings at $0.21 EPS, Q3 2025 earnings at $0.31 EPS, Q4 2025 earnings at $0.29 EPS, FY2025 earnings at $1.05 EPS and FY2026 earnings at $1.25 EPS.

LC has been the subject of a number of other research reports. Piper Sandler reiterated an “overweight” rating and issued a $15.00 price target (up previously from $13.00) on shares of LendingClub in a report on Thursday. Compass Point increased their price target on LendingClub from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price target on LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Keefe, Bruyette & Woods raised shares of LendingClub from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $11.50 to $15.00 in a research note on Thursday, October 10th. Finally, StockNews.com upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.88.

LendingClub Stock Performance

LC stock traded up $0.63 during midday trading on Thursday, reaching $14.45. The company’s stock had a trading volume of 510,739 shares, compared to its average volume of 1,437,026. LendingClub has a 1 year low of $4.73 and a 1 year high of $15.52. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 41.41 and a beta of 2.04. The stock has a fifty day simple moving average of $11.64 and a two-hundred day simple moving average of $9.98.

LendingClub (NYSE:LC) last posted its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.07 by $0.06. The company had revenue of $201.90 million for the quarter, compared to the consensus estimate of $190.40 million. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 EPS. As a group, analysts forecast that LendingClub will post 0.38 EPS for the current fiscal year.

Insider Activity

In related news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $11.36, for a total transaction of $193,120.00. Following the transaction, the chief executive officer now directly owns 1,373,273 shares in the company, valued at $15,600,381.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 51,703 shares of company stock worth $562,705. Insiders own 3.31% of the company’s stock.

Institutional Investors Weigh In On LendingClub

Large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in LendingClub by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 11,446,014 shares of the credit services provider’s stock worth $100,610,000 after purchasing an additional 175,706 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of LendingClub by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock worth $49,901,000 after buying an additional 300,536 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of LendingClub by 24.8% during the second quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock worth $14,032,000 after buying an additional 329,279 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of LendingClub by 120.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider’s stock valued at $17,351,000 after buying an additional 828,958 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of LendingClub by 176.1% in the 4th quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock valued at $11,749,000 after acquiring an additional 857,371 shares during the period. Hedge funds and other 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.