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

Shares of LendingClub Co. (NYSE:LC) have received an average recommendation of “Moderate Buy” from the eight research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $16.38.

Several equities research analysts have weighed in on the stock. StockNews.com cut shares of LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $17.00 price objective (up previously from $14.00) on shares of LendingClub in a report on Monday, December 2nd. Piper Sandler reissued an “overweight” rating and issued a $19.00 target price (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Maxim Group upped their price target on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $16.00 price objective (down from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th.

Insider Transactions at LendingClub

In related news, General Counsel Jordan Cheng sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $14.83, for a total value of $326,260.00. Following the completion of the transaction, the general counsel now directly owns 89,385 shares in the company, valued at approximately $1,325,579.55. The trade was a 19.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total transaction of $274,040.00. Following the sale, the chief executive officer now owns 1,312,184 shares in the company, valued at $21,152,406.08. This trade represents a 1.28 % 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 worth $1,122,710. 3.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LC. AlphaMark Advisors LLC acquired a new stake in LendingClub in the 3rd quarter valued at $32,000. FMR LLC raised its holdings in LendingClub by 32.1% during the third 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 in the last quarter. Blue Trust Inc. boosted its position in LendingClub by 259.8% during the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock valued at $83,000 after purchasing an additional 5,247 shares during the last quarter. Hsbc Holdings PLC grew its stake in LendingClub by 38.3% in the second quarter. Hsbc Holdings PLC now owns 16,748 shares of the credit services provider’s stock valued at $141,000 after purchasing an additional 4,640 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of LendingClub during the 4th quarter worth approximately $164,000. 74.08% of the stock is owned by institutional investors and hedge funds.

LendingClub Stock Performance

Shares of NYSE:LC opened at $13.20 on Friday. The business has a fifty day moving average of $16.19 and a 200-day moving average of $13.63. LendingClub has a twelve month low of $7.48 and a twelve month high of $18.75. The firm has a market cap of $1.48 billion, a PE ratio of 29.32 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.