LendingClub Co. (NYSE:LC) Shares Acquired by State Street Corp

State Street Corp increased its holdings in shares of LendingClub Co. (NYSE:LC - Free Report) by 2.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,896,816 shares of the credit services provider's stock after purchasing an additional 82,315 shares during the quarter. State Street Corp owned 3.47% of LendingClub worth $44,541,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of LC. Dimensional Fund Advisors LP lifted its stake in LendingClub by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider's stock worth $49,901,000 after purchasing an additional 300,536 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of LendingClub by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider's stock valued at $14,032,000 after buying an additional 329,279 shares during the period. Point72 Asset Management L.P. lifted its stake in LendingClub by 98.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,547,342 shares of the credit services provider's stock worth $17,686,000 after acquiring an additional 766,287 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in LendingClub by 120.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider's stock valued at $17,351,000 after acquiring an additional 828,958 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in LendingClub by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 901,357 shares of the credit services provider's stock valued at $10,303,000 after acquiring an additional 10,094 shares during the period. 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 company's stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $11.09, for a total value of $188,530.00. Following the completion of the sale, the chief executive officer now owns 1,356,273 shares in the company, valued at $15,041,067.57. This represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John C. Morris sold 2,500 shares of LendingClub stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $14.36, for a total transaction of $35,900.00. Following the completion of the transaction, the director now owns 203,348 shares in the company, valued at approximately $2,920,077.28. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,500 shares of company stock valued at $1,073,100. 3.31% of the stock is currently owned by insiders.

LendingClub Stock Performance

NYSE LC traded up $0.16 during trading on Friday, reaching $16.46. 3,410,404 shares of the company's stock were exchanged, compared to its average volume of 1,532,620. The company has a 50 day moving average price of $15.03 and a two-hundred day moving average price of $11.90. The stock has a market cap of $1.85 billion, a P/E ratio of 35.78 and a beta of 2.02. LendingClub Co. has a 1 year low of $7.48 and a 1 year high of $18.75.

LendingClub (NYSE:LC - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.06. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The firm had revenue of $201.90 million during the quarter, compared to analysts' expectations of $190.40 million. During the same quarter in the previous year, the business earned $0.05 earnings per share. The firm's revenue was up .5% compared to the same quarter last year. Research analysts forecast that LendingClub Co. will post 0.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LC. Keefe, Bruyette & Woods increased their price target 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. StockNews.com lowered shares of LendingClub from a "hold" rating to a "sell" rating in a report on Friday, October 25th. Compass Point boosted their price target on shares of LendingClub from $15.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Wedbush increased their price objective on LendingClub from $14.00 to $17.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Finally, Maxim Group boosted their target price on LendingClub from $16.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.