Raymond James Financial Inc. Makes New $1.70 Million Investment in LendingClub Co. (NYSE:LC)

Raymond James Financial Inc. bought a new stake in shares of LendingClub Co. (NYSE:LC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 104,770 shares of the credit services provider’s stock, valued at approximately $1,696,000. Raymond James Financial Inc. owned 0.09% of LendingClub as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Commonwealth Equity Services LLC raised its holdings in LendingClub by 2.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 27,248 shares of the credit services provider’s stock worth $441,000 after purchasing an additional 748 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of LendingClub by 49.2% during the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock worth $97,000 after acquiring an additional 1,975 shares in the last quarter. New York State Common Retirement Fund lifted its position in LendingClub by 7.3% during the fourth quarter. New York State Common Retirement Fund now owns 29,316 shares of the credit services provider’s stock valued at $475,000 after acquiring an additional 2,000 shares during the last quarter. National Bank of Canada FI boosted its stake in LendingClub by 150.6% in the fourth 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 in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in LendingClub in the fourth quarter worth $45,000. Institutional investors own 74.08% of the company’s stock.

LendingClub Trading Up 1.3 %

LC opened at $9.90 on Friday. The firm has a 50 day moving average of $10.51 and a two-hundred day moving average of $13.59. The firm has a market capitalization of $1.13 billion, a PE ratio of 21.99 and a beta of 2.09. LendingClub Co. has a 12-month low of $7.81 and a 12-month high of $18.75.

LendingClub (NYSE:LC) last posted its earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. The company had revenue of $217.71 million during the quarter, compared to the consensus estimate of $213.71 million. LendingClub had a net margin of 6.52% and a return on equity of 4.16%. The firm’s quarterly revenue was up 21670.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.11 earnings per share. As a group, analysts predict that LendingClub Co. will post 0.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lowered their price objective on LendingClub from $15.00 to $14.00 and set an “outperform” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. StockNews.com upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a research note on Friday, April 4th. Finally, Piper Sandler reissued an “overweight” rating and set a $19.00 target price (down previously from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, LendingClub has an average rating of “Moderate Buy” and a consensus target price of $15.75.

Insider Transactions at LendingClub

In other news, Director Michael P. Zeisser acquired 20,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was acquired at an average price of $12.88 per share, for a total transaction of $257,600.00. Following the completion of the transaction, the director now owns 148,018 shares in the company, valued at approximately $1,906,471.84. The trade was a 15.62 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Sanborn sold 5,250 shares of LendingClub stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $10.34, for a total value of $54,285.00. Following the completion of the transaction, the chief executive officer now owns 1,297,782 shares of the company’s stock, valued at approximately $13,419,065.88. This represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,500 shares of company stock worth $439,405 over the last quarter. 3.31% of the stock is currently owned by insiders.

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.