LendingClub Co. (NYSE:LC) Shares Bought by National Bank of Canada FI - BBNS
Several other institutional investors and hedge funds have also modified their holdings of LC. Franklin Resources Inc. acquired a new position in shares of LendingClub in the 4th quarter valued at $1,832,000. Alliancebernstein L.P. boosted its stake in shares of LendingClub by 10.5% during the 4th quarter. Alliancebernstein L.P. now owns 115,198 shares of the credit services provider’s stock worth $1,865,000 after acquiring an additional 10,978 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of 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 in the last quarter. Brandywine Global Investment Management LLC acquired a new stake in shares of LendingClub during the 4th quarter valued at about $3,700,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of LendingClub by 158.6% in 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 purchasing an additional 933,680 shares in the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.
NYSE:LC opened at $9.20 on Friday. The company has a market cap of $1.04 billion, a P/E ratio of 20.43 and a beta of 2.09. LendingClub Co. has a twelve month low of $7.48 and a twelve month high of $18.75. The company’s 50-day moving average price is $11.50 and its 200-day moving average price is $13.76.
Several brokerages have commented on LC. StockNews.com raised LendingClub from a “sell” rating to a “hold” rating in a report on Friday, April 4th. JPMorgan Chase & Co. dropped their price target on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $16.00 price objective (down from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $19.00 target price (down previously from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.00.
View Our Latest Stock Analysis on LC
In other news, General Counsel Jordan Cheng sold 7,000 shares of LendingClub stock in a transaction on Wednesday, February 19th. The stock was 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 $1,244,508.30. The trade was a 7.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael P. Zeisser acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was purchased at an average cost of $12.88 per share, with a total value of $257,600.00. Following the acquisition, the director now directly owns 148,018 shares of the company’s stock, valued at $1,906,471.84. This trade represents a 15.62 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 29,250 shares of company stock worth $385,120. Insiders own 3.31% of the company’s stock.
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.
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