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

LendingClub Co. (NYSE:LC) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $16.00.

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price target on LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, March 10th. Piper Sandler reiterated an “overweight” rating and issued a $19.00 target price (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $16.00 price target (down from $17.00) on shares of LendingClub in a report on Wednesday, January 29th.

Insider Buying and Selling

In other LendingClub news, General Counsel Jordan Cheng sold 7,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total transaction of $98,700.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $13.76, for a total value of $233,920.00. Following the completion of the transaction, the chief executive officer now directly owns 1,295,184 shares in the company, valued at $17,821,731.84. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,000 shares of company stock valued at $606,660 over the last ninety days. 3.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On LendingClub

A number of institutional investors and hedge funds have recently modified their holdings of LC. Comerica Bank acquired a new position in shares of LendingClub during the 4th quarter valued at $37,000. SBI Securities Co. Ltd. acquired a new position in shares of LendingClub during the fourth quarter valued at about $45,000. Sterling Capital Management LLC boosted its position in shares of 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 grew its stake in shares of 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 period. Finally, FMR LLC increased its position in LendingClub by 32.1% in the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after buying an additional 1,424 shares in the last quarter. 74.08% of the stock is currently owned by institutional investors.

LendingClub Price Performance

Shares of NYSE:LC opened at $11.09 on Friday. LendingClub has a one year low of $7.48 and a one year high of $18.75. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 24.63 and a beta of 2.07. The firm has a 50 day simple moving average of $13.43 and a 200 day simple moving average of $13.88.

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.