Brokerages Set LendingClub Co. (NYSE:LC) Target Price at $16.00

LendingClub Co. (NYSE:LC) has received an average rating of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $16.00.

Several analysts have issued reports on LC shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $16.00 price objective (down previously from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Piper Sandler restated an “overweight” rating and set a $19.00 price target (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. reduced their price target on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday, March 10th.

LendingClub Stock Down 2.1 %

Shares of LendingClub stock opened at $11.21 on Friday. LendingClub has a 12-month low of $7.48 and a 12-month high of $18.75. The firm has a market capitalization of $1.27 billion, a PE ratio of 24.90 and a beta of 2.07. The stock’s fifty day moving average is $13.19 and its 200-day moving average is $13.89.

Insider Activity at LendingClub

In other news, General Counsel Jordan Cheng sold 7,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total transaction of $98,700.00. Following the transaction, the general counsel now owns 88,263 shares in the company, valued at approximately $1,244,508.30. This trade represents a 7.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,312,184 shares of the company’s stock, valued at $21,152,406.08. This represents a 1.28 % 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. Corporate insiders own 3.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Comerica Bank bought a new position in LendingClub in the 4th quarter worth approximately $37,000. SBI Securities Co. Ltd. acquired a new stake in shares of LendingClub in the fourth quarter worth $45,000. Sterling Capital Management LLC increased 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 worth $57,000 after acquiring an additional 3,119 shares during the period. National Bank of Canada FI raised its stake 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 valued at $66,000 after purchasing an additional 2,448 shares during the last quarter. Finally, FMR LLC boosted its holdings in 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. Institutional investors own 74.08% of the company’s stock.

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.