LendingClub Co. (NYSE:LC) Receives $16.38 Average Price Target from Analysts

Shares of LendingClub Co. (NYSE:LC) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $16.38.

A number of research analysts recently weighed in on LC shares. Piper Sandler reissued an “overweight” rating and issued a $19.00 price objective (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $16.00 price objective (down from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 price objective (up from $14.00) on shares of LendingClub in a research note on Monday, December 2nd.

Insiders Place Their Bets

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $15.84, for a total value of $269,280.00. Following the transaction, the chief executive officer now directly owns 1,329,184 shares of the company’s stock, valued at $21,054,274.56. The trade was a 1.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael P. Zeisser purchased 20,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was acquired at an average cost of $12.88 per share, for a total transaction of $257,600.00. Following the completion of the transaction, the director now owns 148,018 shares in the company, valued at approximately $1,906,471.84. This trade represents a 15.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 58,000 shares of company stock valued at $875,940 in the last three months. Company insiders own 3.31% of the company’s stock.

Institutional Trading of LendingClub

Institutional investors have recently modified their holdings of the company. Comerica Bank acquired a new stake in shares of LendingClub during the 4th quarter worth approximately $37,000. SBI Securities Co. Ltd. acquired a new stake in shares of LendingClub during the 4th quarter worth approximately $45,000. Sterling Capital Management LLC grew its holdings in shares of LendingClub by 818.6% during the 4th quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider’s stock worth $57,000 after purchasing an additional 3,119 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of LendingClub by 150.6% during the 4th quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider’s stock worth $66,000 after purchasing an additional 2,448 shares in the last quarter. Finally, FMR LLC grew its holdings 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 worth $67,000 after purchasing an additional 1,424 shares in the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.

LendingClub Price Performance

Shares of LendingClub stock opened at $12.78 on Tuesday. The stock has a 50-day simple moving average of $15.04 and a 200-day simple moving average of $13.95. LendingClub has a 52-week low of $7.48 and a 52-week high of $18.75. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 28.40 and a beta of 2.00.

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.