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

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

A number of other analysts have also recently issued reports on the company. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Maxim Group increased their price objective on shares of LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Wedbush lifted their target price on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 target price (up previously from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. Finally, Piper Sandler restated 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.38.

LendingClub Stock Down 5.7 %

LC stock opened at $13.47 on Wednesday. The business’s 50-day simple moving average is $16.33 and its 200 day simple moving average is $13.54. The company has a market cap of $1.51 billion, a PE ratio of 29.93 and a beta of 2.03. LendingClub has a twelve month low of $7.48 and a twelve month high of $18.75.

Insider Activity

In other LendingClub news, General Counsel Jordan Cheng sold 22,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $14.83, for a total value of $326,260.00. Following the completion of the sale, the general counsel now owns 89,385 shares in the company, valued at approximately $1,325,579.55. This trade represents a 19.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total transaction of $274,040.00. Following the completion of the transaction, the chief executive officer now directly owns 1,312,184 shares of the company’s stock, valued at approximately $21,152,406.08. This represents a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,000 shares of company stock worth $1,122,710. Insiders own 3.31% of the company’s stock.

Institutional Trading of LendingClub

A number of hedge funds and other institutional investors have recently modified their holdings of LC. AlphaMark Advisors LLC bought a new position in LendingClub in the 3rd quarter valued at $32,000. FMR LLC lifted its stake in shares of LendingClub by 32.1% during the third 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 during the period. Blue Trust Inc. boosted its holdings 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 acquiring an additional 5,247 shares during the last quarter. Hsbc Holdings PLC increased its position in LendingClub by 38.3% in the second quarter. Hsbc Holdings PLC now owns 16,748 shares of the credit services provider’s stock worth $141,000 after purchasing an additional 4,640 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in LendingClub during the 4th quarter worth about $164,000. Institutional investors and hedge funds own 74.08% of the company’s stock.

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.