Keefe, Bruyette & Woods Boosts LendingClub (NYSE:LC) Price Target to $10.00

LendingClub (NYSE:LC) had its price objective raised by equities researchers at Keefe, Bruyette & Woods from $9.50 to $10.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “market perform” rating on the credit services provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 16.14% from the stock’s current price.

A number of other research analysts have also recently commented on LC. Piper Sandler restated an “overweight” rating and set a $10.00 price target (up previously from $9.50) on shares of LendingClub in a research note on Wednesday. StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $11.00 price objective on shares of LendingClub in a report on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.42.

LendingClub Stock Performance

NYSE:LC traded up $1.09 during midday trading on Wednesday, reaching $8.61. The stock had a trading volume of 1,302,416 shares, compared to its average volume of 1,432,848. The stock has a market capitalization of $956.74 million, a P/E ratio of 24.17 and a beta of 1.98. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.89 and a quick ratio of 0.83. LendingClub has a 1-year low of $4.73 and a 1-year high of $10.92. The firm’s fifty day simple moving average is $8.16 and its 200-day simple moving average is $7.60.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $0.11 EPS for the quarter, topping the consensus estimate of $0.03 by $0.08. LendingClub had a return on equity of 3.21% and a net margin of 4.50%. The company had revenue of $180.69 million for the quarter, compared to the consensus estimate of $174.52 million. During the same period in the previous year, the business posted $0.13 EPS. On average, equities research analysts forecast that LendingClub will post 0.23 EPS for the current fiscal year.

Institutional Trading of LendingClub

Large investors have recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. grew its stake in LendingClub by 526.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,884,751 shares of the credit services provider’s stock valued at $11,497,000 after acquiring an additional 1,583,882 shares during the period. Wellington Management Group LLP grew 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 purchasing an additional 857,371 shares during the period. rhino investment partners Inc bought a new stake in LendingClub during the 4th quarter worth approximately $6,838,000. Verition Fund Management LLC acquired a new stake in LendingClub during the 4th quarter worth approximately $6,115,000. Finally, Jackson Square Partners LLC boosted its holdings in shares of LendingClub by 5.9% in the fourth quarter. Jackson Square Partners LLC now owns 9,723,943 shares of the credit services provider’s stock valued at $84,987,000 after buying an additional 541,538 shares during the period. Institutional investors own 74.08% of the company’s stock.

About LendingClub

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.