Keefe, Bruyette & Woods Reaffirms “Outperform” Rating for LendingClub (NYSE:LC)

LendingClub (NYSE:LC)‘s stock had its “outperform” rating reissued by Keefe, Bruyette & Woods in a report released on Wednesday,Benzinga reports. They presently 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’ price target indicates a potential upside of 11.69% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Wedbush raised their price target on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Piper Sandler reissued an “overweight” rating and issued a $19.00 price objective (down previously from $20.00) on shares of LendingClub in a research report on Wednesday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $17.00 price target (up from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. Maxim Group increased their price objective on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. One 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.38.

LendingClub Stock Performance

LC opened at $14.33 on Wednesday. The firm’s fifty day moving average is $16.36 and its two-hundred day moving average is $13.54. The firm has a market cap of $1.61 billion, a PE ratio of 31.14 and a beta of 2.03. LendingClub has a twelve month low of $7.48 and a twelve month high of $18.75.

Insider Buying and Selling at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $14.89, for a total value of $253,130.00. Following the transaction, the chief executive officer now directly owns 1,339,273 shares of the company’s stock, valued at $19,941,774.97. This represents a 1.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Jordan Cheng sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $14.83, for a total value of $326,260.00. Following the sale, the general counsel now owns 89,385 shares of the company’s stock, valued at approximately $1,325,579.55. This represents a 19.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,000 shares of company stock worth $1,122,710 over the last 90 days. Company insiders own 3.31% of the company’s stock.

Institutional Trading of LendingClub

Several hedge funds have recently added to or reduced their stakes in LC. Vontobel Holding Ltd. bought a new stake in shares of LendingClub in the fourth quarter valued at approximately $166,000. Entropy Technologies LP bought a new stake in LendingClub during the fourth quarter worth about $199,000. Highland Capital Management LLC acquired a new stake in LendingClub during the fourth quarter worth about $180,000. Exchange Traded Concepts LLC bought a new position in LendingClub in the 4th quarter valued at about $280,000. Finally, SG Americas Securities LLC raised its position in shares of 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 buying an additional 278,879 shares in the last quarter. 74.08% of the stock is owned by institutional investors and hedge funds.

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.