LendingClub Co. (NYSE:LC) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of LendingClub Co. (NYSE:LC) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $16.00.

LC has been the subject of several research analyst reports. StockNews.com upgraded LendingClub from a “sell” rating to a “hold” rating in a report on Friday, April 4th. Piper Sandler reiterated an “overweight” rating and issued a $19.00 price target (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $16.00 price objective (down from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut their target price on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th.

Insider Activity at LendingClub

In related news, Director Michael P. Zeisser purchased 20,000 shares of LendingClub stock in a transaction dated Monday, February 3rd. The stock was purchased at an average cost of $12.88 per share, for a total transaction of $257,600.00. Following the completion of the acquisition, the director now directly owns 148,018 shares of the company’s stock, valued at $1,906,471.84. The trade was a 15.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Scott Sanborn sold 5,250 shares of LendingClub stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $10.00, for a total value of $52,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,303,032 shares of the company’s stock, valued at approximately $13,030,320. This represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,250 shares of company stock valued at $385,120 in the last three months. Company insiders own 3.31% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LC. FMR LLC increased its holdings in LendingClub by 32.1% in the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock worth $67,000 after buying an additional 1,424 shares in the last quarter. State Street Corp grew its stake in shares of LendingClub by 2.2% in the third quarter. State Street Corp now owns 3,896,816 shares of the credit services provider’s stock worth $44,541,000 after acquiring an additional 82,315 shares during the period. XTX Topco Ltd raised its holdings in shares of LendingClub by 55.4% during the third 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. Barclays PLC lifted its position in LendingClub by 206.6% during the third quarter. Barclays PLC now owns 225,902 shares of the credit services provider’s stock valued at $2,582,000 after purchasing an additional 152,224 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in LendingClub by 1.7% in the third quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider’s stock worth $29,265,000 after purchasing an additional 42,429 shares during the last quarter. Hedge funds and other institutional investors own 74.08% of the company’s stock.

LendingClub Trading Up 2.1 %

LendingClub stock opened at $9.43 on Wednesday. The firm has a market cap of $1.07 billion, a P/E ratio of 20.96 and a beta of 2.09. LendingClub has a 1-year low of $7.48 and a 1-year high of $18.75. The firm has a 50-day moving average of $11.33 and a 200-day moving average of $13.73.

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.