LendingClub Co. (NYSE:LC) Receives $16.00 Consensus Price Target from Brokerages

LendingClub Co. (NYSE:LC) has received a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $16.00.

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their target price on LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday, March 10th. Piper Sandler reaffirmed an “overweight” rating and set a $19.00 target price (down previously from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $16.00 price target (down from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th.

LendingClub Trading Down 4.1 %

Shares of NYSE:LC opened at $10.40 on Friday. The company has a 50 day moving average of $12.95 and a 200-day moving average of $13.87. The firm has a market cap of $1.18 billion, a P/E ratio of 23.12 and a beta of 2.07. LendingClub has a twelve month low of $7.48 and a twelve month high of $18.75.

Insiders Place Their Bets

In other news, Director Michael P. Zeisser bought 20,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were bought at an average cost of $12.88 per share, with a total value of $257,600.00. Following the purchase, the director now directly owns 148,018 shares in the company, valued at $1,906,471.84. This trade represents a 15.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 1,312,184 shares of the company’s stock, valued at $21,152,406.08. The trade was a 1.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have 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

Large investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its holdings in shares of LendingClub by 353.1% during the 4th quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider’s stock valued at $61,515,000 after buying an additional 2,961,050 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in LendingClub in the fourth quarter valued at approximately $3,830,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in LendingClub by 62.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 289,251 shares of the credit services provider’s stock valued at $4,683,000 after acquiring an additional 111,031 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of LendingClub by 50.8% during the 4th quarter. ProShare Advisors LLC now owns 31,128 shares of the credit services provider’s stock worth $504,000 after purchasing an additional 10,490 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of LendingClub by 2.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,839,360 shares of the credit services provider’s stock valued at $29,779,000 after purchasing an additional 49,996 shares in the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.

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.