LendingClub’s (LC) “Outperform” Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their outperform rating on shares of LendingClub (NYSE:LC) in a report published on Wednesday morning,Benzinga reports. They currently have a $16.00 target price on the credit services provider’s stock, down from their prior target price of $17.00.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. reissued a “neutral” rating and set a $17.00 target price (up from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. Compass Point boosted their target price on shares of LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Piper Sandler reissued an “overweight” rating and set a $19.00 target price (down from $20.00) on shares of LendingClub in a research report on Wednesday. Wedbush boosted their target price on shares of LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. One investment 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

LendingClub Trading Down 14.6 %

LC opened at $14.38 on Wednesday. LendingClub has a 1-year low of $7.48 and a 1-year high of $18.75. The company has a market cap of $1.62 billion, a P/E ratio of 31.25 and a beta of 2.03. The company has a fifty day moving average price of $16.38 and a two-hundred day moving average price of $13.53.

Insiders Place Their Bets

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $14.89, for a total value of $253,130.00. Following the transaction, the chief executive officer now directly owns 1,339,273 shares in the company, valued at $19,941,774.97. The trade was a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Jordan Cheng sold 22,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $14.83, for a total transaction of $326,260.00. Following the completion of the transaction, the general counsel now owns 89,385 shares in the company, valued at approximately $1,325,579.55. The trade was a 19.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,000 shares of company stock valued at $1,122,710. Corporate insiders own 3.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AlphaMark Advisors LLC purchased a new stake in shares of LendingClub during the 3rd quarter valued at approximately $32,000. FMR LLC lifted its stake in shares of LendingClub by 32.1% during 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. Blue Trust Inc. lifted its stake in shares of LendingClub by 259.8% during the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock valued at $83,000 after buying an additional 5,247 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of LendingClub by 38.3% during the 2nd quarter. Hsbc Holdings PLC now owns 16,748 shares of the credit services provider’s stock valued at $141,000 after buying an additional 4,640 shares in the last quarter. Finally, Alpha Cubed Investments LLC purchased a new stake in shares of LendingClub during the 3rd quarter valued at approximately $170,000. 74.08% of the stock is currently owned by hedge funds and other 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.