Victory Capital Management Inc. Increases Position in LendingClub Corporation (NYSE:LC)

Victory Capital Management Inc. boosted its stake in shares of LendingClub Corporation (NYSE:LC) by 195.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 161,723 shares of the credit services provider’s stock after purchasing an additional 107,036 shares during the period. Victory Capital Management Inc. owned approximately 0.14% of LendingClub worth $1,669,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Comerica Bank purchased a new position in LendingClub during the fourth quarter worth approximately $37,000. Sterling Capital Management LLC increased its stake in 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 buying an additional 3,119 shares during the period. National Bank of Canada FI increased its stake in 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 buying an additional 2,448 shares during the period. KBC Group NV acquired a new position in LendingClub during the 1st quarter worth $67,000. Finally, Asset Management One Co. Ltd. grew its holdings in LendingClub by 95.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 9,526 shares of the credit services provider’s stock worth $98,000 after acquiring an additional 4,651 shares in the last quarter. Hedge funds and other institutional investors own 74.08% of the company’s stock.

LendingClub Trading Up 1.6%

LC stock opened at $13.16 on Wednesday. The firm’s 50-day moving average is $11.59 and its two-hundred day moving average is $11.79. LendingClub Corporation has a 52 week low of $7.90 and a 52 week high of $18.75. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 29.91 and a beta of 2.44.

LendingClub (NYSE:LC) last released its earnings results on Tuesday, July 29th. The credit services provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.18. LendingClub had a net margin of 6.16% and a return on equity of 4.04%. The business had revenue of $248.44 million for the quarter, compared to the consensus estimate of $227.04 million. During the same period in the previous year, the firm earned $0.13 EPS. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities research analysts predict that LendingClub Corporation will post 0.72 earnings per share for the current year.

Insider Activity at LendingClub

In related news, CEO Scott Sanborn sold 5,250 shares of the business’s stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $12.98, for a total value of $68,145.00. Following the sale, the chief executive officer directly owned 1,283,175 shares in the company, valued at $16,655,611.50. The trade was a 0.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 31,500 shares of company stock valued at $355,110. 3.31% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Citizens Jmp assumed coverage on shares of LendingClub in a report on Monday, July 7th. They issued a “market perform” rating for the company. Keefe, Bruyette & Woods cut their price objective on shares of LendingClub from $15.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Citigroup started coverage on shares of LendingClub in a research report on Monday, July 7th. They issued a “market perform” rating on the stock. Wall Street Zen downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a research report on Saturday, July 12th. Finally, Stephens started coverage on shares of LendingClub in a research report on Thursday, June 12th. They issued an “overweight” rating and a $15.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, LendingClub has an average rating of “Moderate Buy” and a consensus price target of $16.71.

LendingClub 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.