Raymond James Financial Inc. Takes Position in LendingClub Co. (NYSE:LC)

Raymond James Financial Inc. acquired a new stake in LendingClub Co. (NYSE:LC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 104,770 shares of the credit services provider's stock, valued at approximately $1,696,000. Raymond James Financial Inc. owned about 0.09% of LendingClub at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of LendingClub during the fourth quarter valued at $45,000. FMR LLC boosted its stake in shares of 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. Jones Financial Companies Lllp grew its holdings in shares of LendingClub by 49.2% during the fourth quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock worth $97,000 after buying an additional 1,975 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of LendingClub in the fourth quarter valued at approximately $164,000. Finally, Vontobel Holding Ltd. purchased a new position in shares of LendingClub during the fourth quarter valued at approximately $166,000. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Scott Sanborn sold 17,000 shares of the firm's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $13.76, for a total transaction of $233,920.00. Following the sale, the chief executive officer now directly owns 1,295,184 shares in the company, valued at approximately $17,821,731.84. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael P. Zeisser purchased 20,000 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was bought at an average price of $12.88 per share, with a total value of $257,600.00. Following the acquisition, the director now owns 148,018 shares in the company, valued at $1,906,471.84. This trade represents a 15.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.31% of the stock is owned by insiders.

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LendingClub Trading Down 8.0 %

NYSE:LC traded down $0.76 on Friday, hitting $8.68. 2,242,630 shares of the stock were exchanged, compared to its average volume of 1,609,747. The stock has a fifty day moving average of $12.25 and a 200-day moving average of $13.87. The stock has a market cap of $983.61 million, a PE ratio of 19.28 and a beta of 2.07. LendingClub Co. has a fifty-two week low of $7.48 and a fifty-two week high of $18.75.

Wall Street Analysts Forecast Growth

LC has been the subject of several recent analyst reports. StockNews.com raised shares of LendingClub from a "sell" rating to a "hold" rating in a research note on Friday. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $16.00 price objective (down previously from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. Piper Sandler reiterated an "overweight" rating and set a $19.00 target price (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lowered their price target on LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a report on Monday, March 10th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, LendingClub presently has a consensus rating of "Moderate Buy" and an average price target of $16.00.

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.