LendingClub Corporation (NYSE:LC) Receives $23.07 Average Price Target from Brokerages

LendingClub Corporation (NYSE:LC) has received an average rating of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $23.0714.

LC has been the topic of several research analyst reports. Stephens reaffirmed an “overweight” rating and set a $22.50 price target (up from $21.00) on shares of LendingClub in a research report on Tuesday, April 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of LendingClub in a report on Wednesday, May 6th. Finally, Zacks Research upgraded LendingClub from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th.

LendingClub Price Performance

Shares of LC stock opened at $19.21 on Tuesday. The firm has a market cap of $2.22 billion, a P/E ratio of 12.89 and a beta of 1.98. LendingClub has a 1-year low of $10.74 and a 1-year high of $21.67. The firm has a fifty day moving average of $18.86 and a two-hundred day moving average of $17.04.

Insider Transactions at LendingClub

In related news, SVP Fergal Stack sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $19.00, for a total transaction of $1,140,000.00. Following the sale, the senior vice president directly owned 204,977 shares of the company’s stock, valued at approximately $3,894,563. This represents a 22.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jordan Cheng sold 5,500 shares of LendingClub stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $17.46, for a total transaction of $96,030.00. Following the completion of the transaction, the general counsel directly owned 108,074 shares of the company’s stock, valued at approximately $1,886,972.04. This represents a 4.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 119,750 shares of company stock valued at $2,183,691 over the last 90 days. Insiders own 3.19% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LC. Comerica Bank raised its holdings in shares of LendingClub by 6,520.7% during the fourth quarter. Comerica Bank now owns 72,232 shares of the credit services provider’s stock valued at $1,368,000 after buying an additional 71,141 shares during the last quarter. Vanguard Group Inc. increased its position in LendingClub by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 11,697,333 shares of the credit services provider’s stock valued at $221,547,000 after acquiring an additional 516,542 shares during the period. Emerald Mutual Fund Advisers Trust increased its position in LendingClub by 21.3% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 700,631 shares of the credit services provider’s stock valued at $10,033,000 after acquiring an additional 123,040 shares during the period. Nicholas Investment Partners LP raised its stake in LendingClub by 144.7% during the 4th quarter. Nicholas Investment Partners LP now owns 709,206 shares of the credit services provider’s stock valued at $13,432,000 after acquiring an additional 419,417 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in LendingClub during the 3rd quarter worth $2,718,000. 74.08% of the stock is owned by institutional investors and hedge funds.

About LendingClub

LendingClub Corporation operates an online lending marketplace that connects borrowers seeking personal and small business credit with individual and institutional investors. The platform leverages technology to streamline the loan application and underwriting process, offering unsecured personal loans, auto refinancing, and small business loans. In addition to lending products, LendingClub provides high-yield savings accounts and certificates of deposit through its banking charter, following its acquisition of Radius Bank in 2021.

Founded in 2006 by Renaud Laplanche, LendingClub pioneered peer-to-peer lending in the United States, helping to democratize access to credit and investment opportunities.