LendingClub (NYSE:LC) Given New $14.00 Price Target at JPMorgan Chase & Co.

LendingClub (NYSE:LC) had its price objective trimmed by JPMorgan Chase & Co. from $17.00 to $14.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a neutral rating on the credit services provider’s stock.

LC has been the subject of a number of other research reports. Piper Sandler reiterated an “overweight” rating and set a $19.00 price target (down previously from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $16.00 price target (down previously from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.00.

LendingClub Price Performance

Shares of NYSE:LC opened at $10.75 on Monday. The stock has a market cap of $1.22 billion, a P/E ratio of 23.88 and a beta of 2.07. The firm has a fifty day moving average price of $14.19 and a 200 day moving average price of $13.95. LendingClub has a 1-year low of $7.48 and a 1-year high of $18.75.

Insider Transactions at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction dated 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 in the company, valued at $21,152,406.08. This trade represents a 1.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Jordan Cheng sold 7,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total transaction of $98,700.00. Following the completion of the transaction, the general counsel now owns 88,263 shares of the company’s stock, valued at $1,244,508.30. This represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,000 shares of company stock worth $606,660. Company insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On LendingClub

Several hedge funds have recently added to or reduced their stakes in LC. Comerica Bank purchased a new position in LendingClub during the 4th quarter valued at about $37,000. SBI Securities Co. Ltd. purchased a new position in LendingClub during the 4th quarter valued at about $45,000. Sterling Capital Management LLC increased its holdings in LendingClub by 818.6% during the 4th quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider’s stock valued at $57,000 after acquiring an additional 3,119 shares in the last quarter. National Bank of Canada FI increased its holdings in LendingClub by 150.6% during 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 acquiring an additional 2,448 shares in the last quarter. Finally, FMR LLC increased its holdings in 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 acquiring an additional 1,424 shares in the last quarter. 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.