LendingClub (NYSE:LC) Reaches New 12-Month High – What’s Next?

Shares of LendingClub Co. (NYSE:LC) reached a new 52-week high on Friday . The stock traded as high as $17.15 and last traded at $16.70, with a volume of 158093 shares traded. The stock had previously closed at $16.49.

Wall Street Analyst Weigh In

LC has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on shares of LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Maxim Group increased their price target on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. StockNews.com lowered LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Compass Point boosted their target price on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Wedbush lifted their price target on LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.38.

LendingClub Price Performance

The company has a fifty day moving average price of $13.52 and a 200 day moving average price of $11.15. The stock has a market cap of $1.87 billion, a P/E ratio of 35.85 and a beta of 2.01.

LendingClub (NYSE:LC) last released its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. The firm had revenue of $201.90 million for the quarter, compared to analyst estimates of $190.40 million. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm earned $0.05 earnings per share. As a group, sell-side analysts expect that LendingClub Co. will post 0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at LendingClub

In related news, Director John C. Morris sold 2,500 shares of LendingClub stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $14.36, for a total value of $35,900.00. Following the completion of the sale, the director now owns 203,348 shares of the company’s stock, valued at approximately $2,920,077.28. This trade represents a 1.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $11.09, for a total transaction of $188,530.00. Following the transaction, the chief executive officer now owns 1,356,273 shares of the company’s stock, valued at $15,041,067.57. This represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,500 shares of company stock worth $996,940. Corporate insiders own 3.31% of the company’s stock.

Institutional Trading of LendingClub

A number of hedge funds and other institutional investors have recently made changes to their positions in LC. Geode Capital Management LLC lifted its position in LendingClub by 1.7% during the third quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider’s stock valued at $29,265,000 after purchasing an additional 42,429 shares during the last quarter. Barclays PLC boosted its holdings in shares of LendingClub by 206.6% in the 3rd quarter. Barclays PLC now owns 225,902 shares of the credit services provider’s stock worth $2,582,000 after purchasing an additional 152,224 shares in the last quarter. XTX Topco Ltd increased its position in shares of LendingClub by 55.4% during the 3rd quarter. XTX Topco Ltd now owns 19,789 shares of the credit services provider’s stock valued at $226,000 after purchasing an additional 7,054 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of LendingClub by 21.6% during the 3rd quarter. Wellington Management Group LLP now owns 838,535 shares of the credit services provider’s stock valued at $9,584,000 after buying an additional 148,685 shares in the last quarter. Finally, State Street Corp lifted its position in LendingClub by 2.2% in the 3rd quarter. State Street Corp now owns 3,896,816 shares of the credit services provider’s stock worth $44,541,000 after buying an additional 82,315 shares during the last quarter. 74.08% of the stock is currently owned by 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.