LendingClub (NYSE:LC – Get Free Report)‘s stock had its “overweight” rating restated by investment analysts at Piper Sandler in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $19.00 price objective on the credit services provider’s stock, down from their prior price objective of $20.00. Piper Sandler’s price objective would suggest a potential upside of 36.52% from the stock’s previous close.
LC has been the topic of several other research reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $17.00 price target (up previously from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. Maxim Group increased their price objective on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Compass Point increased their price target on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of LendingClub from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.50.
LendingClub Stock Performance
Insider Buying and Selling
In other LendingClub news, General Counsel Jordan Cheng sold 22,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $14.83, for a total value of $326,260.00. Following the transaction, the general counsel now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 1,312,184 shares of the company’s stock, valued at $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. Insiders have sold 73,000 shares of company stock worth $1,122,710 in the last quarter. 3.31% of the stock is owned by insiders.
Hedge Funds Weigh In On LendingClub
Several hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC raised its stake in LendingClub by 38.3% in the 2nd quarter. Hsbc Holdings PLC now owns 16,748 shares of the credit services provider’s stock valued at $141,000 after purchasing an additional 4,640 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of LendingClub during the second quarter valued at approximately $2,412,000. The Manufacturers Life Insurance Company boosted its position in LendingClub by 0.5% during the second quarter. The Manufacturers Life Insurance Company now owns 302,844 shares of the credit services provider’s stock worth $2,562,000 after acquiring an additional 1,445 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in LendingClub in the 2nd quarter worth approximately $264,000. Finally, Algert Global LLC boosted its holdings in shares of LendingClub by 265.0% during the second quarter. Algert Global LLC now owns 146,305 shares of the credit services provider’s stock worth $1,238,000 after purchasing an additional 106,224 shares during the last quarter. 74.08% of the stock is 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.
Read More
- Five stocks we like better than LendingClub
- Transportation Stocks Investing
- 3 Steel Stocks Soaring After Tariff Announcements
- What is diluted earnings per share (Diluted EPS)?
- Top Analysts’ Picks for 2025: 3 of Morgan Stanley’s Favorites
- How to Invest in the Best Canadian Stocks
- Why Salesforce Stock Could Be at Fresh Highs by February
Receive News & Ratings for LendingClub Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LendingClub and related companies with MarketBeat.com's FREE daily email newsletter.