Sumitomo Mitsui Trust Holdings Inc. Has $254,000 Stake in LendingClub Co. (NYSE:LC)

Sumitomo Mitsui Trust Holdings Inc. decreased its position in LendingClub Co. (NYSE:LCGet Rating) by 97.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 22,976 shares of the credit services provider’s stock after selling 902,408 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in LendingClub were worth $254,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strs Ohio boosted its stake in LendingClub by 6.1% in the 2nd quarter. Strs Ohio now owns 22,700 shares of the credit services provider’s stock worth $265,000 after purchasing an additional 1,300 shares during the period. Arizona State Retirement System boosted its stake in LendingClub by 6.8% in the 2nd quarter. Arizona State Retirement System now owns 27,383 shares of the credit services provider’s stock worth $320,000 after purchasing an additional 1,736 shares during the period. Royal Bank of Canada lifted its position in LendingClub by 8.8% in the 1st quarter. Royal Bank of Canada now owns 21,792 shares of the credit services provider’s stock worth $344,000 after buying an additional 1,767 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in LendingClub in the 1st quarter worth approximately $30,000. Finally, PNC Financial Services Group Inc. lifted its position in LendingClub by 367.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,607 shares of the credit services provider’s stock worth $41,000 after buying an additional 2,049 shares in the last quarter. Institutional investors and hedge funds own 81.11% of the company’s stock.

LendingClub Stock Up 1.2 %

LendingClub stock opened at $8.69 on Tuesday. The company has a market capitalization of $913.22 million, a P/E ratio of 3.10 and a beta of 1.92. The firm’s fifty day simple moving average is $9.59 and its 200-day simple moving average is $11.75. The company has a current ratio of 1.11, a quick ratio of 1.07 and a debt-to-equity ratio of 0.08. LendingClub Co. has a 1-year low of $8.23 and a 1-year high of $26.87.

LendingClub (NYSE:LCGet Rating) last released its quarterly earnings results on Wednesday, October 26th. The credit services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $304.91 million for the quarter, compared to the consensus estimate of $294.95 million. LendingClub had a net margin of 24.88% and a return on equity of 21.55%. Sell-side analysts forecast that LendingClub Co. will post 1.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LC has been the subject of a number of research analyst reports. Maxim Group cut their target price on shares of LendingClub from $40.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, October 31st. Wedbush cut their target price on shares of LendingClub from $20.00 to $15.00 in a research report on Thursday, October 27th. Finally, StockNews.com initiated coverage on shares of LendingClub in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.75.

Insider Activity

In related news, insider Ronnie Momen sold 28,607 shares of LendingClub stock in a transaction on Monday, November 28th. The shares were sold at an average price of $10.08, for a total value of $288,358.56. Following the transaction, the insider now owns 180,173 shares in the company, valued at approximately $1,816,143.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Andrew Labenne bought 12,300 shares of the company’s stock in a transaction that occurred on Friday, November 4th. The shares were purchased at an average price of $9.52 per share, for a total transaction of $117,096.00. Following the acquisition, the chief financial officer now directly owns 15,000 shares of the company’s stock, valued at approximately $142,800. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ronnie Momen sold 28,607 shares of LendingClub stock in a transaction on Monday, November 28th. The stock was sold at an average price of $10.08, for a total transaction of $288,358.56. Following the completion of the transaction, the insider now owns 180,173 shares in the company, valued at approximately $1,816,143.84. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 22,300 shares of company stock worth $214,646. 3.22% of the stock is owned by corporate insiders.

About LendingClub

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LendingClub Corporation, operates as a bank holding company for LendingClub Bank, National Association that provides range of financial products and services through a technology-driven platform in the United States. The company provides commercial and industrial, commercial real estate, small business, and equipment loans, as well as leases equipment; and unsecured personal and auto, patient finance, and education finance loans.

See Also

Institutional Ownership by Quarter for LendingClub (NYSE:LC)

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