Keefe, Bruyette & Woods Reiterates "Outperform" Rating for LendingClub (NYSE:LC)

LendingClub (NYSE:LC - Get Free Report)'s stock had its "outperform" rating reaffirmed by research analysts at Keefe, Bruyette & Woods in a report released on Wednesday,Benzinga reports. They currently have a $16.00 target price on the credit services provider's stock, down from their previous target price of $17.00. Keefe, Bruyette & Woods' price objective would suggest a potential upside of 17.99% from the company's current price.

Several other equities research analysts have also recently commented on LC. Maxim Group raised their target price on shares of LendingClub from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Piper Sandler reiterated an "overweight" rating and issued a $19.00 price target (down from $20.00) on shares of LendingClub in a research note on Wednesday. Wedbush boosted their price objective on shares of LendingClub from $14.00 to $17.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Compass Point upped their price objective on shares of LendingClub from $15.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $17.00 target price (up from $14.00) on shares of LendingClub in a report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.38.

LendingClub Price Performance

NYSE LC traded down $3.27 on Wednesday, reaching $13.56. 5,496,615 shares of the company's stock traded hands, compared to its average volume of 1,839,750. The stock has a market cap of $1.52 billion, a PE ratio of 29.75 and a beta of 2.03. LendingClub has a 12 month low of $7.48 and a 12 month high of $18.75. The stock has a 50-day simple moving average of $16.34 and a 200 day simple moving average of $13.48.

Insider Activity at LendingClub

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LC. AlphaMark Advisors LLC bought a new position in shares of LendingClub in the 3rd quarter valued at about $32,000. FMR LLC raised its position in LendingClub by 32.1% during the third quarter. FMR LLC now owns 5,865 shares of the credit services provider's stock valued at $67,000 after purchasing an additional 1,424 shares during the period. Blue Trust Inc. boosted its holdings in shares of LendingClub by 259.8% in the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider's stock worth $83,000 after purchasing an additional 5,247 shares during the period. Highland Capital Management LLC bought a new position in shares of LendingClub during the 4th quarter valued at approximately $180,000. Finally, Entropy Technologies LP purchased a new stake in LendingClub during the 4th quarter valued at $199,000. Institutional investors own 74.08% of the company's stock.

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.

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