Analysts Set LendingClub Co. (NYSE:LC) Target Price at $16.38

Shares of LendingClub Co. (NYSE:LC) have received a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $16.38.

A number of research analysts recently issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and set a $19.00 target price (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $16.00 target price (down from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $17.00 target price (up from $14.00) on shares of LendingClub in a report on Monday, December 2nd.

LendingClub Stock Up 2.0 %

NYSE:LC opened at $12.78 on Tuesday. The business’s 50-day moving average price is $15.04 and its 200 day moving average price is $13.95. The firm has a market cap of $1.45 billion, a P/E ratio of 28.40 and a beta of 2.00. LendingClub has a 52-week low of $7.48 and a 52-week high of $18.75.

Insider Activity at LendingClub

In other LendingClub news, General Counsel Jordan Cheng sold 7,000 shares of the firm’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 sale, the general counsel now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael P. Zeisser acquired 20,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were acquired at an average price of $12.88 per share, with a total value of $257,600.00. Following the completion of the transaction, the director now directly owns 148,018 shares in the company, valued at approximately $1,906,471.84. This trade represents a 15.62 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 58,000 shares of company stock worth $875,940 in the last quarter. 3.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On LendingClub

A number of institutional investors have recently bought and sold shares of LC. Wellington Management Group LLP boosted its position in LendingClub by 353.1% during the 4th quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider’s stock worth $61,515,000 after acquiring an additional 2,961,050 shares during the period. Driehaus Capital Management LLC lifted its holdings in shares of LendingClub by 229.1% during the 4th quarter. Driehaus Capital Management LLC now owns 3,588,799 shares of the credit services provider’s stock valued at $58,103,000 after buying an additional 2,498,318 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of LendingClub by 196.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,131,253 shares of the credit services provider’s stock valued at $34,505,000 after buying an additional 1,412,568 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of LendingClub by 158.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,522,360 shares of the credit services provider’s stock valued at $24,647,000 after buying an additional 933,680 shares during the last quarter. Finally, Cramer Rosenthal Mcglynn LLC acquired a new stake in shares of LendingClub during the 4th quarter valued at about $13,432,000. 74.08% of the stock is currently owned by institutional investors and hedge funds.

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.