Piper Sandler Reaffirms “Overweight” Rating for LendingClub (NYSE:LC)

LendingClub (NYSE:LC)‘s stock had its “overweight” rating reiterated by equities researchers at Piper Sandler in a research report issued on Wednesday,Benzinga reports. They currently have a $19.00 target price on the credit services provider’s stock, down from their previous target price of $20.00. Piper Sandler’s price objective indicates a potential upside of 32.64% from the stock’s previous close.

Several other equities analysts also recently issued reports on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $17.00 price objective (up previously from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. Compass Point lifted their price target on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. StockNews.com lowered shares of LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods boosted their target price on shares of LendingClub from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Maxim Group increased their price target on shares of LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

LendingClub Trading Down 0.7 %

Shares of LendingClub stock opened at $14.33 on Wednesday. LendingClub has a 1-year low of $7.48 and a 1-year high of $18.75. The firm’s 50-day moving average price is $16.36 and its two-hundred day moving average price is $13.54. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 31.14 and a beta of 2.03.

Insider Buying and Selling

In other news, General Counsel Jordan Cheng sold 22,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $14.83, for a total transaction of $326,260.00. Following the completion of the transaction, the general counsel now directly owns 89,385 shares in the company, valued at approximately $1,325,579.55. The trade was a 19.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $14.89, for a total transaction of $253,130.00. Following the completion of the sale, the chief executive officer now owns 1,339,273 shares in the company, valued at $19,941,774.97. This represents a 1.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,000 shares of company stock valued at $1,122,710 over the last ninety days. Insiders own 3.31% of the company’s stock.

Institutional Investors Weigh In On LendingClub

Several large investors have recently bought and sold shares of the company. AlphaMark Advisors LLC acquired a new stake in shares of LendingClub during the third quarter worth about $32,000. FMR LLC raised its holdings in 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 buying an additional 1,424 shares during the period. Blue Trust Inc. raised its holdings in LendingClub by 259.8% during the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after buying an additional 5,247 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of LendingClub by 38.3% in the second quarter. Hsbc Holdings PLC now owns 16,748 shares of the credit services provider’s stock valued at $141,000 after buying an additional 4,640 shares during the period. Finally, Vontobel Holding Ltd. bought a new stake in shares of LendingClub during the fourth quarter worth $166,000. 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.