JPMorgan Chase & Co. Has $11.41 Million Stock Holdings in LendingClub Co. (NYSE:LC)

JPMorgan Chase & Co. increased its stake in shares of LendingClub Co. (NYSE:LC - Free Report) by 4.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 998,148 shares of the credit services provider's stock after buying an additional 45,307 shares during the quarter. JPMorgan Chase & Co. owned 0.89% of LendingClub worth $11,409,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. AlphaMark Advisors LLC acquired a new stake in shares of LendingClub in the 3rd quarter valued at $32,000. FMR LLC boosted its stake in 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 acquiring an additional 1,424 shares during the last quarter. Blue Trust Inc. grew its holdings in LendingClub by 259.8% during the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider's stock valued at $83,000 after purchasing an additional 5,247 shares during the period. Hsbc Holdings PLC increased its stake in LendingClub by 38.3% in the second 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 in the last quarter. Finally, Alpha Cubed Investments LLC acquired a new stake in LendingClub in the third quarter worth $170,000. 74.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on LC shares. JPMorgan Chase & Co. restated a "neutral" rating and issued a $17.00 price objective (up previously from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. Maxim Group raised their price target on LendingClub from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Compass Point boosted their price objective on LendingClub from $15.00 to $19.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Piper Sandler raised their target price on shares of LendingClub from $15.00 to $20.00 and gave the stock an "overweight" rating in a report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of LendingClub from $15.00 to $17.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $16.63.

LendingClub Price Performance

Shares of NYSE LC opened at $14.85 on Monday. The business has a 50-day moving average of $16.02 and a 200-day moving average of $12.87. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 32.28 and a beta of 2.03. LendingClub Co. has a fifty-two week low of $7.48 and a fifty-two week high of $18.75.

LendingClub (NYSE:LC - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.07 by $0.06. The company had revenue of $201.90 million during the quarter, compared to the consensus estimate of $190.40 million. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The firm's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 EPS. On average, sell-side analysts expect that LendingClub Co. will post 0.47 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Jordan Cheng sold 22,000 shares of the firm's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $14.83, for a total transaction 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. This trade represents a 19.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total transaction 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,500 shares of company stock worth $1,158,610. Company insiders own 3.31% of the company's stock.

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.