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

LendingClub Co. (NYSE:LC) has received an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation 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.

Several brokerages recently commented on LC. Piper Sandler reaffirmed an “overweight” rating and issued a $19.00 target price (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price objective on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, March 10th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $16.00 target price (down previously from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th.

LendingClub Trading Down 2.1 %

Shares of LC stock opened at $11.21 on Friday. LendingClub has a 12 month low of $7.48 and a 12 month high of $18.75. The company has a market capitalization of $1.27 billion, a P/E ratio of 24.90 and a beta of 2.07. The stock has a 50 day moving average of $13.19 and a two-hundred day moving average of $13.89.

Insider Buying and Selling

In other LendingClub news, Director Michael P. Zeisser acquired 20,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was purchased at an average price of $12.88 per share, for a total transaction of $257,600.00. Following the transaction, the director now owns 148,018 shares in the company, valued at $1,906,471.84. This trade represents a 15.62 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total value of $274,040.00. Following the completion of the transaction, the chief executive officer now directly owns 1,312,184 shares in the company, valued at approximately $21,152,406.08. This represents a 1.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,000 shares of company stock worth $606,660 in the last quarter. 3.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. State Street Corp lifted its holdings in LendingClub by 2.2% during 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 in the last quarter. Wellington Management Group LLP raised its position in shares of LendingClub by 353.1% during the fourth quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider’s stock worth $61,515,000 after acquiring an additional 2,961,050 shares during the last quarter. Driehaus Capital Management LLC lifted its stake in shares of LendingClub by 229.1% during the fourth quarter. Driehaus Capital Management LLC now owns 3,588,799 shares of the credit services provider’s stock valued at $58,103,000 after acquiring an additional 2,498,318 shares during the period. 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 valued at $29,265,000 after acquiring an additional 42,429 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its position in LendingClub by 196.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,131,253 shares of the credit services provider’s stock worth $34,505,000 after purchasing an additional 1,412,568 shares during the period. 74.08% of the stock is owned by institutional investors.

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.