Brokerages Set LendingClub Co. (NYSE:LC) Target Price at $16.00

Shares of LendingClub Co. (NYSE:LC) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $16.00.

LC has been the subject of several recent research reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $16.00 price objective (down previously from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. JPMorgan Chase & Co. cut their price objective on LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, March 10th. StockNews.com raised shares of LendingClub from a “sell” rating to a “hold” rating in a research report on Friday, April 4th. Finally, Piper Sandler reiterated an “overweight” rating and set a $19.00 price objective (down previously from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th.

Insider Activity at LendingClub

In related news, Director Michael P. Zeisser acquired 20,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were purchased at an average price of $12.88 per share, with a total value of $257,600.00. Following the completion of the purchase, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Jordan Cheng sold 7,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total transaction of $98,700.00. Following the completion of the sale, the general counsel now directly owns 88,263 shares of the company’s stock, valued at $1,244,508.30. This represents a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,250 shares of company stock worth $385,120. 3.31% of the stock is owned by insiders.

Hedge Funds Weigh In On LendingClub

Large investors have recently made changes to their positions in the business. Comerica Bank purchased a new position in LendingClub in the 4th quarter worth approximately $37,000. SBI Securities Co. Ltd. bought a new stake in LendingClub in the 4th quarter valued at $45,000. Sterling Capital Management LLC lifted its stake in LendingClub by 818.6% in the 4th quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider’s stock worth $57,000 after purchasing an additional 3,119 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of 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 purchasing an additional 2,448 shares during the last quarter. Finally, FMR LLC grew its position 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 purchasing an additional 1,424 shares in the last quarter. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

LendingClub Stock Up 1.1 %

Shares of NYSE:LC opened at $9.49 on Wednesday. The stock has a market cap of $1.08 billion, a PE ratio of 21.08 and a beta of 2.09. The company’s fifty day moving average is $11.10 and its 200 day moving average is $13.68. LendingClub has a 52 week low of $7.48 and a 52 week high of $18.75.

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.