Wedbush Boosts LendingClub (NYSE:LC) Price Target to $17.00

LendingClub (NYSE:LC) had its price objective increased by Wedbush from $14.00 to $17.00 in a research note published on Thursday morning, Benzinga reports. Wedbush 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.

Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods upgraded shares of LendingClub from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $11.50 to $15.00 in a research report on Thursday, October 10th. StockNews.com upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Jefferies Financial Group increased their price objective on LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Compass Point upped their price objective on shares of LendingClub from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Piper Sandler restated an “overweight” rating and set a $15.00 price target (up from $13.00) on shares of LendingClub in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, LendingClub has an average rating of “Moderate Buy” and an average target price of $15.38.

LendingClub Price Performance

Shares of LendingClub stock opened at $13.59 on Thursday. The firm has a market cap of $1.52 billion, a PE ratio of 35.76 and a beta of 2.04. LendingClub has a 1 year low of $4.73 and a 1 year high of $15.52. The stock has a fifty day moving average price of $11.69 and a 200-day moving average price of $10.02.

LendingClub (NYSE:LC) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.06. The firm had revenue of $201.90 million for the quarter, compared to the consensus estimate of $190.40 million. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.05 earnings per share. As a group, equities analysts anticipate that LendingClub will post 0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 1,373,273 shares in the company, valued at approximately $15,600,381.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 51,703 shares of company stock worth $562,705 over the last quarter. 3.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in shares of LendingClub by 176.1% in the fourth quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock worth $11,749,000 after acquiring an additional 857,371 shares during the period. Vanguard Group Inc. grew its holdings in LendingClub by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock valued at $98,502,000 after buying an additional 336,827 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in shares of LendingClub during the first quarter valued at approximately $164,000. GSA Capital Partners LLP lifted its holdings in shares of LendingClub by 38.2% in the first quarter. GSA Capital Partners LLP now owns 143,839 shares of the credit services provider’s stock worth $1,264,000 after buying an additional 39,733 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in shares of LendingClub by 8.2% during the first quarter. Empowered Funds LLC now owns 314,729 shares of the credit services provider’s stock worth $2,766,000 after acquiring an additional 23,790 shares during the last quarter. 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.