Raymond James Financial Inc. Purchases Shares of 104,770 LendingClub Co. (NYSE:LC)

Raymond James Financial Inc. acquired a new position in LendingClub Co. (NYSE:LC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 104,770 shares of the credit services provider’s stock, valued at approximately $1,696,000. Raymond James Financial Inc. owned approximately 0.09% of LendingClub as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in LC. SBI Securities Co. Ltd. acquired a new stake in shares of LendingClub during the fourth quarter worth $45,000. FMR LLC lifted its stake in shares of LendingClub by 32.1% in the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock worth $67,000 after acquiring an additional 1,424 shares during the period. Jones Financial Companies Lllp boosted its stake in LendingClub by 49.2% during the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock valued at $97,000 after purchasing an additional 1,975 shares in the last quarter. Sanctuary Advisors LLC bought a new position in LendingClub during the fourth quarter valued at about $164,000. Finally, Vontobel Holding Ltd. bought a new position in shares of LendingClub during the 4th quarter valued at about $166,000. 74.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LC. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $16.00 target price (down previously from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their target price on LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday, March 10th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $19.00 price target (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

LendingClub Stock Down 0.7 %

NYSE LC opened at $10.34 on Tuesday. The firm has a 50-day moving average price of $12.82 and a two-hundred day moving average price of $13.92. LendingClub Co. has a 12-month low of $7.48 and a 12-month high of $18.75. The company has a market capitalization of $1.17 billion, a P/E ratio of 22.97 and a beta of 2.07.

Insider Activity at LendingClub

In related news, Director Michael P. Zeisser bought 20,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were bought at an average price of $12.88 per share, with a total value of $257,600.00. Following the completion of the transaction, the director now directly owns 148,018 shares in the company, valued at approximately $1,906,471.84. This represents a 15.62 % increase in their ownership of the stock. 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 company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total value of $274,040.00. Following the completion of the transaction, the chief executive officer now owns 1,312,184 shares of the company’s stock, valued at $21,152,406.08. This trade represents a 1.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,000 shares of company stock valued at $606,660 in the last quarter. Insiders own 3.31% of the company’s stock.

LendingClub 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.