LendingClub Co. (NYSE:LC) Receives Consensus Recommendation of "Moderate Buy" from Analysts

LendingClub Co. (NYSE:LC - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eight brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $16.00.

LC has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a research report on Monday, March 10th. StockNews.com upgraded shares of LendingClub from a "sell" rating to a "hold" rating in a research note on Friday, April 4th. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $16.00 price target (down previously from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, Piper Sandler restated an "overweight" rating and issued a $19.00 price objective (down previously from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th.

LendingClub Trading Up 1.1 %

Shares of NYSE LC traded up $0.11 during midday trading on Wednesday, reaching $9.49. The company's stock had a trading volume of 1,025,863 shares, compared to its average volume of 1,621,654. LendingClub has a fifty-two week low of $7.48 and a fifty-two week high of $18.75. The stock has a 50 day simple moving average of $11.10 and a 200-day simple moving average of $13.71. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 21.08 and a beta of 2.09.

Insider Activity

In related news, General Counsel Jordan Cheng sold 7,000 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total value of $98,700.00. Following the sale, the general counsel now owns 88,263 shares of the company's stock, valued at $1,244,508.30. The trade was a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Scott Sanborn sold 5,250 shares of the stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $10.00, for a total value of $52,500.00. Following the completion of the sale, the chief executive officer now owns 1,303,032 shares of the company's stock, valued at $13,030,320. The trade was a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,250 shares of company stock valued at $385,120. 3.31% of the stock is currently owned by corporate insiders.

Institutional Trading of LendingClub

Several institutional investors have recently added to or reduced their stakes in LC. Comerica Bank bought a new stake in shares of LendingClub in the 4th quarter valued at $37,000. SBI Securities Co. Ltd. acquired a new position in LendingClub in the fourth quarter valued at $45,000. Sterling Capital Management LLC boosted its position in LendingClub by 818.6% during the fourth quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider's stock valued at $57,000 after acquiring an additional 3,119 shares during the last quarter. National Bank of Canada FI raised its position in shares of LendingClub by 150.6% in the 4th quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider's stock worth $66,000 after acquiring an additional 2,448 shares in the last quarter. Finally, FMR LLC lifted its stake in shares of LendingClub by 32.1% in the 3rd 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. 74.08% of the stock is currently owned by 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.