LendingClub Co. (NYSE:LC) Given Consensus Recommendation of “Moderate Buy” by Analysts

LendingClub Co. (NYSE:LC) has received an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $16.38.

Several analysts have recently commented on the stock. StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Piper Sandler restated an “overweight” rating and issued a $19.00 price target (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Wedbush upped their price objective on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $16.00 price objective (down previously from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $17.00 target price (up from $14.00) on shares of LendingClub in a research report on Monday, December 2nd.

LendingClub Price Performance

Shares of LendingClub stock opened at $13.65 on Friday. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 30.32 and a beta of 2.00. The stock’s 50-day moving average is $16.07 and its 200 day moving average is $13.64. LendingClub has a one year low of $7.48 and a one year high of $18.75.

Insiders Place Their Bets

In other LendingClub news, Director Michael P. Zeisser purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were acquired at an average cost of $12.88 per share, for a total transaction of $257,600.00. Following the completion of the acquisition, the director now owns 148,018 shares of the company’s stock, valued at $1,906,471.84. The trade was a 15.62 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Sanborn sold 17,000 shares of the company’s 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 transaction, the chief executive officer now owns 1,312,184 shares of the company’s stock, valued at $21,152,406.08. This trade represents a 1.28 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On LendingClub

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new stake in LendingClub in the fourth quarter worth about $45,000. AlphaMark Advisors LLC bought a new stake in shares of LendingClub in the third quarter valued at approximately $32,000. FMR LLC lifted its stake in shares of LendingClub by 32.1% during the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after buying an additional 1,424 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in LendingClub by 49.2% in the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock worth $97,000 after buying an additional 1,975 shares during the period. Finally, Blue Trust Inc. raised its holdings in LendingClub by 259.8% during the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock valued at $83,000 after acquiring an additional 5,247 shares during the period. 74.08% of the stock is owned by hedge funds and other institutional investors.

About LendingClub

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.