Bank of New York Mellon Corp Sells 11,095 Shares of LendingClub Co. (NYSE:LC)

Bank of New York Mellon Corp decreased its position in LendingClub Co. (NYSE:LC) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 349,293 shares of the credit services provider’s stock after selling 11,095 shares during the period. Bank of New York Mellon Corp’s holdings in LendingClub were worth $5,655,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of LC. FMR LLC lifted its holdings in LendingClub by 32.1% in the third 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 during the period. Sanctuary Advisors LLC bought a new stake in LendingClub in the 4th quarter worth about $164,000. Vontobel Holding Ltd. bought a new stake in LendingClub in the 4th quarter worth about $166,000. Princeton Capital Management LLC bought a new stake in LendingClub in the 3rd quarter worth about $171,000. Finally, Highland Capital Management LLC bought a new position in shares of LendingClub during the 4th quarter valued at approximately $180,000. Institutional investors and hedge funds own 74.08% of the company’s stock.

Insiders Place Their Bets

In related news, Director Michael P. Zeisser purchased 20,000 shares of LendingClub stock in a transaction that occurred on Monday, February 3rd. The shares were bought at an average price of $12.88 per share, for a total transaction of $257,600.00. Following the completion of the transaction, the director now directly owns 148,018 shares of the company’s stock, valued at $1,906,471.84. This represents a 15.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total transaction of $274,040.00. Following the transaction, the chief executive officer now owns 1,312,184 shares in the company, valued at $21,152,406.08. This represents a 1.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,000 shares of company stock valued at $606,660 over the last three months. Insiders own 3.31% of the company’s stock.

LendingClub Stock Up 4.6 %

LendingClub stock opened at $10.89 on Monday. The company has a market capitalization of $1.23 billion, a PE ratio of 24.19 and a beta of 2.07. The firm has a fifty day simple moving average of $13.95 and a two-hundred day simple moving average of $13.94. LendingClub Co. has a twelve month low of $7.48 and a twelve month high of $18.75.

Analyst Ratings Changes

LC has been the subject of a number of research reports. Keefe, Bruyette & Woods restated an “outperform” rating and set a $16.00 price target (down from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th. JPMorgan Chase & Co. cut their price target on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, March 10th. Finally, Piper Sandler reissued an “overweight” rating and issued a $19.00 price target (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, LendingClub currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

LendingClub 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.