JPMorgan Chase & Co. Lowers LendingClub (NYSE:LC) Price Target to $14.00

LendingClub (NYSE:LC - Get Free Report) had its price objective decreased by JPMorgan Chase & Co. from $17.00 to $14.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the credit services provider's stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 28.62% from the stock's current price.

A number of other equities research analysts have also weighed in on LC. Piper Sandler restated an "overweight" rating and issued a $19.00 price objective (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $16.00 price objective (down from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $16.00.

LendingClub Stock Up 4.6 %

LendingClub stock traded up $0.48 during mid-day trading on Monday, reaching $10.89. 1,145,125 shares of the company's stock were exchanged, compared to its average volume of 1,566,622. The company has a market cap of $1.23 billion, a P/E ratio of 24.19 and a beta of 2.07. LendingClub has a twelve month low of $7.48 and a twelve month high of $18.75. The company has a fifty day moving average of $13.95 and a 200-day moving average of $13.91.

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Insider Buying and Selling

In related news, Director Michael P. Zeisser purchased 20,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were purchased at an average cost of $12.88 per share, for a total transaction of $257,600.00. Following the purchase, the director now directly owns 148,018 shares of the company's stock, valued at $1,906,471.84. The trade was a 15.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Jordan Cheng sold 7,000 shares of LendingClub stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total transaction of $98,700.00. Following the sale, the general counsel now owns 88,263 shares in the company, valued at $1,244,508.30. This represents a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,000 shares of company stock worth $606,660 in the last ninety days. 3.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Comerica Bank purchased a new position in LendingClub during the 4th quarter worth $37,000. SBI Securities Co. Ltd. purchased a new position in LendingClub during the 4th quarter worth $45,000. Sterling Capital Management LLC grew its position 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 purchasing an additional 3,119 shares during the last quarter. National Bank of Canada FI grew its position 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 purchasing an additional 2,448 shares during the last quarter. Finally, FMR LLC grew its position 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 purchasing an additional 1,424 shares during the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

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.