Wells Fargo & Company MN Grows Stock Holdings in LendingClub Co. (NYSE:LC)

Wells Fargo & Company MN raised its position in LendingClub Co. (NYSE:LC) by 277.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 191,206 shares of the credit services provider’s stock after acquiring an additional 140,611 shares during the quarter. Wells Fargo & Company MN owned approximately 0.17% of LendingClub worth $3,096,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new position in shares of LendingClub during the 4th quarter valued at $45,000. National Bank of Canada FI lifted its holdings in shares of LendingClub by 150.6% in the 4th quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider’s stock valued at $66,000 after acquiring an additional 2,448 shares during the last quarter. FMR LLC boosted its holdings in shares of 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 purchasing an additional 1,424 shares during the period. Jones Financial Companies Lllp increased its position in LendingClub by 49.2% during the fourth quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock valued at $97,000 after acquiring an additional 1,975 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in LendingClub during the 4th quarter valued at about $164,000. Hedge funds and other institutional investors own 74.08% of the company’s stock.

LendingClub Stock Up 3.9 %

Shares of LendingClub stock opened at $10.25 on Thursday. LendingClub Co. has a 52 week low of $7.48 and a 52 week high of $18.75. The firm has a market cap of $1.17 billion, a PE ratio of 22.78 and a beta of 2.09. The business’s fifty day simple moving average is $10.88 and its 200-day simple moving average is $13.65.

Insider Transactions at LendingClub

In related news, General Counsel Jordan Cheng sold 7,000 shares of LendingClub stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total transaction of $98,700.00. Following the sale, the general counsel now directly owns 88,263 shares in the company, valued at $1,244,508.30. This trade represents a 7.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael P. Zeisser acquired 20,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was purchased at an average cost of $12.88 per share, with a total value 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 approximately $1,906,471.84. This trade represents a 15.62 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 29,250 shares of company stock valued at $385,120. 3.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on LC shares. StockNews.com raised LendingClub from a “sell” rating to a “hold” rating in a research report on Friday, April 4th. Piper Sandler restated an “overweight” rating and set a $19.00 price objective (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $16.00 price target (down previously from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. dropped their target price on LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, March 10th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.00.

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.