LendingClub (NYSE:LC) Given New $14.00 Price Target at JPMorgan Chase & Co.

LendingClub (NYSE:LC) had its price objective cut by JPMorgan Chase & Co. from $17.00 to $14.00 in a report released on Monday,Benzinga reports. They currently have a neutral rating on the credit services provider’s stock.

Several other research firms have also recently weighed in on LC. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $16.00 price objective (down previously from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. Piper Sandler reiterated an “overweight” rating and set a $19.00 price target (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $16.00.

LendingClub Trading Down 8.1 %

NYSE:LC opened at $10.29 on Monday. The firm has a market capitalization of $1.17 billion, a PE ratio of 22.86 and a beta of 2.07. LendingClub has a 1 year low of $7.48 and a 1 year high of $18.75. The firm’s fifty day simple moving average is $14.42 and its 200 day simple moving average is $13.98.

Insider Activity

In related news, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $13.76, for a total transaction of $233,920.00. Following the completion of the transaction, the chief executive officer now owns 1,295,184 shares in the company, valued at $17,821,731.84. This trade represents a 1.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael P. Zeisser purchased 20,000 shares of the stock in a transaction on Monday, February 3rd. The stock was bought at an average price of $12.88 per share, for a total transaction of $257,600.00. Following the completion of the transaction, the director now directly owns 148,018 shares of the company’s stock, 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. Over the last ninety days, insiders have sold 41,000 shares of company stock worth $606,660. Company insiders own 3.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LC. Wellington Management Group LLP increased its position in shares of LendingClub by 21.6% during the 3rd quarter. Wellington Management Group LLP now owns 838,535 shares of the credit services provider’s stock worth $9,584,000 after purchasing an additional 148,685 shares in the last quarter. JPMorgan Chase & Co. grew its stake in LendingClub by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider’s stock worth $11,409,000 after buying an additional 45,307 shares during the last quarter. Captrust Financial Advisors acquired a new stake in shares of LendingClub during the third quarter worth approximately $237,000. GSA Capital Partners LLP raised its stake in shares of LendingClub by 47.3% in the third quarter. GSA Capital Partners LLP now owns 214,192 shares of the credit services provider’s stock valued at $2,448,000 after acquiring an additional 68,791 shares during the last quarter. Finally, Quantbot Technologies LP boosted its holdings in shares of LendingClub by 153.2% in the 3rd quarter. Quantbot Technologies LP now owns 158,763 shares of the credit services provider’s stock worth $1,815,000 after acquiring an additional 96,053 shares in the last quarter. 74.08% of the stock is owned by 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.