LendingClub (NYSE:LC) Earns Neutral Rating from JPMorgan Chase & Co.

LendingClub (NYSE:LC)‘s stock had its “neutral” rating restated by equities research analysts at JPMorgan Chase & Co. in a note issued to investors on Monday, Marketbeat reports. They currently have a $17.00 price target on the credit services provider’s stock, up from their previous price target of $14.00. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 8.42% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Compass Point boosted their price objective on shares of LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Maxim Group lifted their price objective on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Piper Sandler reissued an “overweight” rating and issued a $15.00 target price (up from $13.00) on shares of LendingClub in a research note on Thursday, October 24th. Wedbush lifted their price target on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, StockNews.com lowered shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.75.

LendingClub Trading Down 5.8 %

Shares of NYSE:LC traded down $0.96 during trading on Monday, reaching $15.68. 578,745 shares of the company traded hands, compared to its average volume of 1,484,075. LendingClub has a 52-week low of $6.56 and a 52-week high of $17.15. The business’s fifty day moving average is $13.63 and its 200-day moving average is $11.23. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 33.80 and a beta of 2.01.

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, beating the consensus estimate of $0.07 by $0.06. The firm had revenue of $201.90 million for the quarter, compared to analysts’ expectations of $190.40 million. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The business’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.05 earnings per share. On average, sell-side analysts predict that LendingClub will post 0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at LendingClub

In other LendingClub news, General Counsel Jordan Cheng sold 22,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $14.83, for a total transaction of $326,260.00. Following the completion of the transaction, the general counsel now owns 89,385 shares in the company, valued at $1,325,579.55. This trade represents a 19.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $11.09, for a total value of $188,530.00. Following the sale, the chief executive officer now directly owns 1,356,273 shares in the company, valued at $15,041,067.57. This trade represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,500 shares of company stock valued at $996,940 over the last ninety days. 3.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. AlphaMark Advisors LLC bought a new position in LendingClub in the 3rd quarter valued at $32,000. FMR LLC grew its holdings in shares of LendingClub by 32.1% in the third quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock worth $67,000 after purchasing an additional 1,424 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of LendingClub by 259.8% in the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after purchasing an additional 5,247 shares during the last quarter. nVerses Capital LLC purchased a new position in LendingClub in the 2nd quarter worth about $71,000. Finally, Innealta Capital LLC bought a new stake in LendingClub during the 2nd quarter valued at about $72,000. 74.08% of the stock is owned by hedge funds and other institutional investors.

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.