BNP Paribas Financial Markets Invests $750,000 in LendingClub Co. (NYSE:LC)

BNP Paribas Financial Markets bought a new stake in shares of LendingClub Co. (NYSE:LC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 46,353 shares of the credit services provider's stock, valued at approximately $750,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LC. Comerica Bank bought a new position in shares of LendingClub in the 4th quarter worth $37,000. SBI Securities Co. Ltd. bought a new position in shares of LendingClub in the 4th quarter worth $45,000. Sterling Capital Management LLC lifted its holdings in shares of LendingClub by 818.6% in the 4th quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider's stock worth $57,000 after purchasing an additional 3,119 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of LendingClub by 150.6% in the 4th quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider's stock worth $66,000 after purchasing an additional 2,448 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of LendingClub by 49.2% in the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock worth $97,000 after purchasing an additional 1,975 shares in the last quarter. Institutional investors and hedge funds own 74.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on LC shares. Wall Street Zen cut LendingClub from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. Piper Sandler reaffirmed an "overweight" rating and set a $19.00 target price (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods decreased their target price on LendingClub from $15.00 to $14.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. decreased their target price on LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $15.75.

LendingClub Stock Down 1.3%

Shares of NYSE LC traded down $0.13 during trading on Wednesday, reaching $10.05. The company had a trading volume of 59,374 shares, compared to its average volume of 1,606,803. LendingClub Co. has a 12-month low of $7.81 and a 12-month high of $18.75. The stock has a market cap of $1.15 billion, a PE ratio of 22.27 and a beta of 2.35. The business's 50-day moving average is $10.16 and its 200 day moving average is $13.17.

LendingClub (NYSE:LC - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. LendingClub had a return on equity of 4.16% and a net margin of 6.52%. The company had revenue of $217.71 million for the quarter, compared to analysts' expectations of $213.71 million. During the same period last year, the firm posted $0.11 earnings per share. LendingClub's revenue was up 21670.0% compared to the same quarter last year. On average, analysts anticipate that LendingClub Co. will post 0.72 earnings per share for the current year.

Insiders Place Their Bets

In other LendingClub news, Director Michael P. Zeisser bought 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were bought at an average price of $9.35 per share, with a total value of $187,000.00. Following the purchase, the director now owns 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Scott Sanborn sold 5,250 shares of LendingClub stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $10.00, for a total value of $52,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,303,032 shares in the company, valued at approximately $13,030,320. The trade was a 0.40% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,000 shares of company stock valued at $215,198. Insiders own 3.31% of the company's stock.

LendingClub 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.