Deutsche Bank AG Purchases 185,761 Shares of LendingClub Co. (NYSE:LC)

Deutsche Bank AG grew its holdings in shares of LendingClub Co. (NYSE:LC) by 63.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 476,469 shares of the credit services provider’s stock after purchasing an additional 185,761 shares during the quarter. Deutsche Bank AG owned about 0.42% of LendingClub worth $7,714,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Wellington Management Group LLP lifted its holdings in LendingClub by 353.1% during the 4th quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider’s stock worth $61,515,000 after purchasing an additional 2,961,050 shares in the last quarter. Driehaus Capital Management LLC increased its position 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 buying an additional 2,498,318 shares during the period. Balyasny Asset Management L.P. lifted its holdings in shares of 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 buying an additional 1,412,568 shares in the last quarter. American Century Companies Inc. boosted its position in shares of LendingClub by 9.3% in the fourth quarter. American Century Companies Inc. now owns 1,895,699 shares of the credit services provider’s stock valued at $30,691,000 after acquiring an additional 160,916 shares during the period. Finally, Senvest Management LLC grew its stake in LendingClub by 3.4% during the fourth quarter. Senvest Management LLC now owns 1,529,587 shares of the credit services provider’s stock valued at $24,764,000 after acquiring an additional 50,000 shares in the last quarter. Hedge funds and other institutional investors own 74.08% of the company’s stock.

LendingClub Stock Up 0.3%

Shares of LC stock opened at $10.62 on Friday. The business has a 50-day moving average price of $10.26 and a two-hundred day moving average price of $13.39. LendingClub Co. has a 12-month low of $7.81 and a 12-month high of $18.75. The firm has a market cap of $1.21 billion, a P/E ratio of 23.60 and a beta of 2.35.

LendingClub (NYSE:LC) last released its earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share for the quarter, hitting 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 return on equity of 4.16% and a net margin of 6.52%. LendingClub’s quarterly revenue was up 21670.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS. As a group, research analysts expect that LendingClub Co. will post 0.72 EPS for the current fiscal year.

Insider Transactions at LendingClub

In related news, Director Michael P. Zeisser purchased 20,000 shares of LendingClub stock in a transaction that occurred on Wednesday, April 30th. The shares were acquired at an average cost of $9.35 per share, for a total transaction of $187,000.00. Following the transaction, the director now directly owns 174,138 shares in the company, valued at $1,628,190.30. The trade was a 12.98% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Sanborn sold 5,250 shares of LendingClub stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $10.00, for a total value of $52,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,303,032 shares in the company, valued at $13,030,320. This trade represents a 0.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,000 shares of company stock worth $313,898. 3.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

LC has been the subject of several analyst reports. StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a report on Tuesday, May 6th. Keefe, Bruyette & Woods dropped their price objective on LendingClub from $15.00 to $14.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Piper Sandler restated an “overweight” rating and set a $19.00 target price (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lowered their price target on LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.75.

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.