LendingClub (NYSE:LC) Earns “Outperform” Rating from Keefe, Bruyette & Woods

LendingClub (NYSE:LC)‘s stock had its “outperform” rating reaffirmed by equities researchers at Keefe, Bruyette & Woods in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $16.00 price objective on the credit services provider’s stock, down from their prior price objective of $17.00. Keefe, Bruyette & Woods’ target price suggests a potential upside of 11.69% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Piper Sandler restated an “overweight” rating and set a $19.00 price target (down previously from $20.00) on shares of LendingClub in a report on Wednesday. Wedbush upped their price target 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. StockNews.com lowered LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Maxim Group upped their target price on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $17.00 target price (up from $14.00) on shares of LendingClub in a report on Monday, December 2nd. One investment 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 an average rating of “Moderate Buy” and an average price target of $16.38.

LendingClub Trading Down 0.7 %

Shares of LC stock opened at $14.33 on Wednesday. The stock has a 50-day moving average of $16.36 and a 200-day moving average of $13.54. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 31.14 and a beta of 2.03. LendingClub has a 1-year low of $7.48 and a 1-year high of $18.75.

Insider Buying and Selling at LendingClub

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vontobel Holding Ltd. purchased a new stake in LendingClub in the 4th quarter valued at about $166,000. Entropy Technologies LP purchased a new stake in shares of LendingClub during the fourth quarter valued at approximately $199,000. Highland Capital Management LLC bought a new stake in LendingClub during the fourth quarter worth $180,000. Exchange Traded Concepts LLC purchased a new position in LendingClub in the fourth quarter worth $280,000. Finally, SG Americas Securities LLC grew its stake in LendingClub by 699.5% in the 4th quarter. SG Americas Securities LLC now owns 318,745 shares of the credit services provider’s stock valued at $5,160,000 after purchasing an additional 278,879 shares during the period. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

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.