Citizens Financial Group Inc. RI Has $344,000 Stock Holdings in LendingClub Co. (NYSE:LC)

Citizens Financial Group Inc. RI lowered its position in shares of LendingClub Co. (NYSE:LC) by 16.6% in the third quarter, Holdings Channel reports. The institutional investor owned 30,120 shares of the credit services provider’s stock after selling 6,000 shares during the period. Citizens Financial Group Inc. RI’s holdings in LendingClub were worth $344,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. AlphaMark Advisors LLC bought a new stake in shares of LendingClub in the third quarter valued at approximately $32,000. EntryPoint Capital LLC lifted its position in shares of LendingClub by 44.9% during the 1st quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock valued at $66,000 after acquiring an additional 2,328 shares during the period. nVerses Capital LLC acquired a new stake in shares of LendingClub during the 2nd quarter worth $71,000. Innealta Capital LLC bought a new position in shares of LendingClub in the second quarter worth $72,000. Finally, Blue Trust Inc. raised its stake in LendingClub by 259.8% in 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 in the last quarter. Institutional investors own 74.08% of the company’s stock.

Analyst Upgrades and Downgrades

LC has been the topic of a number of recent analyst reports. Piper Sandler reissued an “overweight” rating and issued a $15.00 price objective (up from $13.00) on shares of LendingClub in a research note on Thursday, October 24th. StockNews.com lowered LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods raised LendingClub from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $11.50 to $15.00 in a research note on Thursday, October 10th. Compass Point lifted their target price on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Maxim Group increased their target price on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.38.

LendingClub Trading Up 5.2 %

NYSE:LC opened at $16.73 on Friday. The stock’s 50-day moving average is $13.09 and its 200-day moving average is $10.95. The stock has a market cap of $1.88 billion, a P/E ratio of 36.35 and a beta of 2.01. LendingClub Co. has a 1-year low of $5.51 and a 1-year high of $16.75.

LendingClub (NYSE:LC) last announced its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.06. The firm had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $190.40 million. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The company’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.05 EPS. As a group, equities analysts forecast that LendingClub Co. will post 0.47 EPS for the current year.

Insiders Place Their Bets

In other news, Director John C. Morris sold 2,500 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $14.36, for a total transaction of $35,900.00. Following the completion of the sale, the director now directly owns 203,348 shares in the company, valued at $2,920,077.28. This represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $11.09, for a total transaction of $188,530.00. Following the completion of the transaction, the chief executive officer now owns 1,356,273 shares in the company, valued at approximately $15,041,067.57. The trade was a 1.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,500 shares of company stock valued at $996,940. 3.31% of the stock is currently owned by company insiders.

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.