LendingClub Co. (NYSE:LC) Receives $16.38 Consensus PT from Analysts

Shares of LendingClub Co. (NYSE:LC) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are currently 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 1-year price target among analysts that have covered the stock in the last year is $16.38.

A number of brokerages recently issued reports on LC. Piper Sandler reiterated an “overweight” rating and issued a $19.00 price target (down previously from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. JPMorgan Chase & Co. restated a “neutral” rating and set a $17.00 target price (up previously from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $16.00 target price (down previously from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th.

Insider Transactions at LendingClub

In related news, General Counsel Jordan Cheng sold 7,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total value of $98,700.00. Following the completion of the sale, the general counsel now directly owns 88,263 shares of the company’s stock, valued at approximately $1,244,508.30. This represents a 7.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total transaction of $274,040.00. Following the completion of the sale, the chief executive officer now directly owns 1,312,184 shares of the company’s stock, valued at $21,152,406.08. This represents a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,000 shares of company stock worth $875,940 in the last quarter. Company insiders own 3.31% of the company’s stock.

Institutional Investors Weigh In On LendingClub

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Bank purchased a new stake in LendingClub during the 4th quarter valued at approximately $37,000. SBI Securities Co. Ltd. purchased a new stake in LendingClub during the 4th quarter valued at approximately $45,000. Sterling Capital Management LLC grew its holdings in LendingClub by 818.6% during the 4th quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider’s stock valued at $57,000 after buying an additional 3,119 shares in the last quarter. National Bank of Canada FI grew its holdings in LendingClub by 150.6% during 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 buying an additional 2,448 shares in the last quarter. Finally, FMR LLC grew its holdings in LendingClub by 32.1% during the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after buying an additional 1,424 shares in the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

LendingClub Price Performance

NYSE:LC opened at $12.21 on Tuesday. The firm’s 50-day moving average price is $14.96 and its 200-day moving average price is $13.98. The company has a market capitalization of $1.38 billion, a PE ratio of 27.13 and a beta of 2.00. LendingClub has a 1-year low of $7.48 and a 1-year high of $18.75.

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.