LendingClub (NYSE:LC) Receives “Outperform” Rating from Keefe, Bruyette & Woods

LendingClub (NYSE:LC)‘s stock had its “outperform” rating restated by equities researchers at Keefe, Bruyette & Woods in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $16.00 target price on the credit services provider’s stock, down from their previous target price of $17.00. Keefe, Bruyette & Woods’ target price points to a potential upside of 17.99% from the stock’s current price.

LC has been the subject of a number of other reports. Maxim Group lifted their target price on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $17.00 price objective (up from $14.00) on shares of LendingClub in a report on Monday, December 2nd. StockNews.com cut shares of LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Piper Sandler restated an “overweight” rating and issued a $19.00 price target (down previously from $20.00) on shares of LendingClub in a report on Wednesday. Finally, Wedbush upped their price target on shares of LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, LendingClub presently has a consensus rating of “Moderate Buy” and an average target price of $16.38.

LendingClub Stock Performance

LendingClub stock traded down $3.27 during trading hours on Wednesday, hitting $13.56. The company had a trading volume of 5,496,615 shares, compared to its average volume of 1,839,750. The firm has a market cap of $1.52 billion, a P/E ratio of 29.75 and a beta of 2.03. The company has a 50-day moving average price of $16.34 and a two-hundred day moving average price of $13.48. LendingClub has a 1 year low of $7.48 and a 1 year high of $18.75.

Insider Transactions at LendingClub

In related news, General Counsel Jordan Cheng sold 22,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $14.83, for a total value of $326,260.00. Following the completion of the transaction, the general counsel now directly owns 89,385 shares of the company’s stock, valued at $1,325,579.55. This trade represents a 19.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the company’s 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 transaction, the chief executive officer now owns 1,339,273 shares in the company, valued at $19,941,774.97. The trade was a 1.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,000 shares of company stock valued at $1,122,710. Corporate insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On LendingClub

Several hedge funds have recently made changes to their positions in the company. AlphaMark Advisors LLC purchased a new position in shares of LendingClub in the third quarter worth about $32,000. FMR LLC raised its position 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 last quarter. Blue Trust Inc. lifted its stake in LendingClub by 259.8% during the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock valued at $83,000 after acquiring an additional 5,247 shares during the period. Highland Capital Management LLC acquired a new stake in shares of LendingClub in the fourth quarter worth $180,000. Finally, Entropy Technologies LP acquired a new stake in shares of LendingClub in the fourth quarter worth $199,000. 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.