JPMorgan Chase & Co. Buys 45,307 Shares of LendingClub Co. (NYSE:LC)

JPMorgan Chase & Co. increased its holdings in shares of LendingClub Co. (NYSE:LC) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 998,148 shares of the credit services provider’s stock after acquiring an additional 45,307 shares during the quarter. JPMorgan Chase & Co.’s holdings in LendingClub were worth $11,409,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the stock. Wellington Management Group LLP increased its position in LendingClub by 21.6% during the 3rd quarter. Wellington Management Group LLP now owns 838,535 shares of the credit services provider’s stock worth $9,584,000 after purchasing an additional 148,685 shares in the last quarter. Captrust Financial Advisors acquired a new stake in LendingClub during the 3rd quarter valued at approximately $237,000. GSA Capital Partners LLP lifted its holdings in LendingClub by 47.3% in the third quarter. GSA Capital Partners LLP now owns 214,192 shares of the credit services provider’s stock valued at $2,448,000 after buying an additional 68,791 shares during the period. Quantbot Technologies LP grew its stake in LendingClub by 153.2% during the third quarter. Quantbot Technologies LP now owns 158,763 shares of the credit services provider’s stock worth $1,815,000 after purchasing an additional 96,053 shares during the period. Finally, Alpha DNA Investment Management LLC acquired a new position in shares of LendingClub during the 3rd quarter valued at $411,000. 74.08% of the stock is currently owned by institutional investors.

Insider Transactions at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the firm’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 transaction, the chief executive officer now directly owns 1,312,184 shares of the company’s stock, valued at approximately $21,152,406.08. This trade represents a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John C. Morris sold 2,500 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $14.36, for a total value of $35,900.00. Following the completion of the sale, the director now owns 203,348 shares of the company’s stock, valued at $2,920,077.28. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,500 shares of company stock worth $1,158,610 over the last quarter. 3.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Piper Sandler raised their price objective on LendingClub from $15.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. StockNews.com lowered LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Wedbush increased their price objective on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Maxim Group increased their price objective on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods upped their target price on shares of LendingClub from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.63.

LendingClub Trading Down 5.8 %

LendingClub stock opened at $15.00 on Monday. The firm has a 50-day moving average of $16.02 and a 200-day moving average of $12.87. LendingClub Co. has a 1-year low of $7.48 and a 1-year high of $18.75. The firm has a market cap of $1.69 billion, a P/E ratio of 32.61 and a beta of 2.03.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. The company had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $190.40 million. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. LendingClub’s revenue was up .5% on a year-over-year basis. During the same period last year, the company posted $0.05 EPS. Research analysts forecast that LendingClub Co. will post 0.47 earnings per share for the current fiscal year.

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.