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

LendingClub Co. (NYSE:LC) has received an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $16.38.

Several brokerages recently commented on LC. JPMorgan Chase & Co. restated a “neutral” rating and issued a $17.00 price target (up previously from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. Piper Sandler reissued an “overweight” rating and issued a $19.00 price objective (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods reaffirmed 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 Activity

In related news, General Counsel Jordan Cheng sold 7,000 shares of the firm’s stock in a transaction 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 transaction, the general counsel now directly owns 88,263 shares in the company, valued at approximately $1,244,508.30. This trade represents a 7.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael P. Zeisser purchased 20,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was acquired at an average cost 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. This trade represents a 15.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 58,000 shares of company stock worth $875,940 in the last three months. 3.31% of the stock is owned by insiders.

Institutional Investors Weigh In On LendingClub

Institutional investors and hedge funds have recently made changes to their positions in the company. Comerica Bank bought a new position in LendingClub in the fourth quarter valued at about $37,000. SBI Securities Co. Ltd. bought a new stake in shares of LendingClub during the fourth quarter worth $45,000. Sterling Capital Management LLC increased 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 worth $57,000 after purchasing an additional 3,119 shares in the last quarter. National Bank of Canada FI raised its position in LendingClub by 150.6% in 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 during the last quarter. Finally, FMR LLC lifted its position in shares of 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. Institutional investors and hedge funds own 74.08% of the company’s stock.

LendingClub Trading Down 4.2 %

NYSE LC opened at $12.49 on Tuesday. LendingClub has a 1 year low of $7.48 and a 1 year high of $18.75. The stock’s 50-day moving average price is $15.49 and its two-hundred day moving average price is $13.90. The company has a market cap of $1.42 billion, a PE ratio of 27.75 and a beta of 2.01.

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.