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Citizens Jmp Initiates Coverage on LendingClub (NYSE:LC)

LendingClub logo with Finance background

Citizens Jmp assumed coverage on shares of LendingClub (NYSE:LC - Get Free Report) in a report issued on Monday,Briefing.com Automated Import reports. The firm set a "market perform" rating on the credit services provider's stock.

Other equities research analysts have also recently issued reports about the stock. Wall Street Zen raised shares of LendingClub from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Keefe, Bruyette & Woods lowered their price target on LendingClub from $15.00 to $14.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Stephens assumed coverage on LendingClub in a research note on Thursday, June 12th. They set an "overweight" rating and a $15.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price objective on LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a research note on Monday, March 10th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $16.13.

Check Out Our Latest Report on LendingClub

LendingClub Stock Performance

Shares of LC stock opened at $12.58 on Monday. The stock has a fifty day moving average price of $10.82 and a 200 day moving average price of $12.19. The stock has a market cap of $1.44 billion, a PE ratio of 28.58 and a beta of 2.44. LendingClub has a 1 year low of $7.90 and a 1 year high of $18.75.

LendingClub (NYSE:LC - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. LendingClub had a return on equity of 4.04% and a net margin of 6.16%. The company had revenue of $217.71 million during the quarter, compared to the consensus estimate of $213.71 million. LendingClub's revenue was up 21670.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 earnings per share. As a group, equities research analysts predict that LendingClub will post 0.72 earnings per share for the current year.

Insider Activity at LendingClub

In other news, Director Michael P. Zeisser bought 20,000 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was acquired at an average cost of $9.35 per share, for a total transaction of $187,000.00. Following the completion of the purchase, the director owned 174,138 shares of the company's stock, valued at $1,628,190.30. This trade represents a 12.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott Sanborn sold 5,250 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $11.15, for a total transaction of $58,537.50. Following the completion of the transaction, the chief executive officer owned 1,293,675 shares in the company, valued at $14,424,476.25. This represents a 0.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,500 shares of company stock valued at $327,810 in the last ninety days. 3.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LC. Proficio Capital Partners LLC acquired a new stake in shares of LendingClub during the 4th quarter valued at approximately $453,000. Jones Financial Companies Lllp boosted its position in LendingClub by 49.2% during the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock worth $97,000 after acquiring an additional 1,975 shares during the period. SBI Securities Co. Ltd. acquired a new stake in LendingClub in the fourth quarter worth about $45,000. Charles Schwab Investment Management Inc. grew its position in LendingClub by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 924,843 shares of the credit services provider's stock valued at $14,973,000 after buying an additional 23,486 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in LendingClub by 301.0% in the 4th quarter. Victory Capital Management Inc. now owns 54,687 shares of the credit services provider's stock valued at $885,000 after buying an additional 41,048 shares in the last quarter. Institutional investors and hedge funds own 74.08% of the company's stock.

About LendingClub

(Get Free Report)

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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Analyst Recommendations for LendingClub (NYSE:LC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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