36,120 Shares in LendingClub Co. (NYSE:LC) Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI bought a new position in LendingClub Co. (NYSE:LC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 36,120 shares of the credit services provider’s stock, valued at approximately $306,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP grew its position in LendingClub by 176.1% during the fourth quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock valued at $11,749,000 after acquiring an additional 857,371 shares during the last quarter. rhino investment partners Inc purchased a new stake in LendingClub during the 4th quarter valued at about $6,838,000. Verition Fund Management LLC purchased a new position in LendingClub in the 4th quarter worth approximately $6,115,000. Vanguard Group Inc. lifted its position in LendingClub by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock valued at $98,502,000 after purchasing an additional 336,827 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of LendingClub by 24.8% during the second quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock valued at $14,032,000 after purchasing an additional 329,279 shares during the period. Hedge funds and other institutional investors own 74.08% of the company’s stock.

LendingClub Stock Performance

LendingClub stock opened at $10.93 on Thursday. LendingClub Co. has a fifty-two week low of $4.73 and a fifty-two week high of $12.87. The stock’s 50 day simple moving average is $10.95 and its two-hundred day simple moving average is $9.33. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 32.15 and a beta of 2.04.

LendingClub (NYSE:LC) last released its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.09. The company had revenue of $187.20 million for the quarter, compared to analyst estimates of $177.03 million. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The firm’s revenue was down 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. On average, analysts predict that LendingClub Co. will post 0.38 earnings per share for the current year.

Insider Activity

In related news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $10.25, for a total value of $174,250.00. Following the completion of the transaction, the chief executive officer now directly owns 1,383,362 shares in the company, valued at approximately $14,179,460.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 34,703 shares of company stock worth $374,175. Corporate insiders own 3.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on LC shares. StockNews.com upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Jefferies Financial Group increased their target price on shares of LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Piper Sandler restated an “overweight” rating and set a $13.00 price target (up previously from $10.00) on shares of LendingClub in a report on Wednesday, July 31st. Compass Point increased their price objective on LendingClub from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods lifted their price objective on LendingClub from $10.00 to $11.50 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, LendingClub has a consensus rating of “Moderate Buy” and a consensus target price of $13.07.

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.