LendingClub Co. (NYSE:LC) Receives $16.00 Average Price Target from Analysts

LendingClub Co. (NYSE:LC) has earned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $16.00.

LC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their target price on LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, March 10th. Piper Sandler reiterated an “overweight” rating and set a $19.00 target price (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $16.00 price target (down previously from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th.

LendingClub Stock Performance

LC opened at $11.66 on Friday. The stock’s 50 day moving average price is $13.37 and its 200-day moving average price is $13.91. LendingClub has a 52-week low of $7.48 and a 52-week high of $18.75. The stock has a market capitalization of $1.32 billion, a PE ratio of 25.92 and a beta of 2.07.

Insiders Place Their Bets

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total value of $274,040.00. Following the completion of the transaction, the chief executive officer now directly owns 1,312,184 shares of the company’s stock, valued at approximately $21,152,406.08. The trade was a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Jordan Cheng sold 7,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total transaction of $98,700.00. Following the completion of the transaction, the general counsel now owns 88,263 shares of the company’s stock, valued at approximately $1,244,508.30. This trade represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,000 shares of company stock valued at $606,660. 3.31% of the stock is currently owned by insiders.

Institutional Trading of LendingClub

Several institutional investors have recently bought and sold shares of LC. Comerica Bank acquired a new position in LendingClub in the 4th quarter valued at $37,000. SBI Securities Co. Ltd. acquired a new position in LendingClub in the 4th quarter valued at about $45,000. Sterling Capital Management LLC increased its position in shares of LendingClub by 818.6% during the fourth quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider’s stock worth $57,000 after acquiring an additional 3,119 shares during the period. National Bank of Canada FI increased its stake in shares of LendingClub by 150.6% during the fourth quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider’s stock worth $66,000 after buying an additional 2,448 shares during the period. Finally, FMR LLC lifted its position 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. 74.08% of the stock is owned by institutional investors and hedge funds.

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.