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

LendingClub Co. (NYSE:LC) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $16.38.

LC has been the subject of a number of recent research reports. Piper Sandler reissued an “overweight” rating and issued a $19.00 target price (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $16.00 target price (down from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $17.00 price target (up from $14.00) on shares of LendingClub in a research report on Monday, December 2nd.

LendingClub Stock Performance

LC stock opened at $12.21 on Tuesday. The firm has a fifty day moving average price of $14.96 and a 200 day moving average price of $13.98. LendingClub has a fifty-two week low of $7.48 and a fifty-two week high of $18.75. The firm has a market cap of $1.38 billion, a PE ratio of 27.13 and a beta of 2.00.

Insider Transactions at LendingClub

In related news, General Counsel Jordan Cheng sold 7,000 shares of the company’s stock in a transaction dated 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 $1,244,508.30. This represents a 7.35 % decrease in their ownership of the stock. 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 company’s stock in a transaction dated 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 approximately $21,152,406.08. This trade represents a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,000 shares of company stock worth $875,940. 3.31% of the stock is currently owned by insiders.

Institutional Trading of LendingClub

A number of hedge funds have recently added to or reduced their stakes in LC. Comerica Bank purchased a new stake in LendingClub in the fourth quarter worth about $37,000. SBI Securities Co. Ltd. bought a new position in LendingClub in the fourth quarter worth about $45,000. Sterling Capital Management LLC raised its holdings in LendingClub by 818.6% in the fourth quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider’s stock worth $57,000 after purchasing an additional 3,119 shares in the last quarter. National Bank of Canada FI raised its holdings 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 worth $66,000 after purchasing an additional 2,448 shares in the last quarter. Finally, FMR LLC raised its holdings in LendingClub by 32.1% in the third 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 in the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

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.