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

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

A number of other hedge funds have also recently bought and sold shares of the company. Comerica Bank acquired a new position in LendingClub during the fourth quarter worth approximately $37,000. SBI Securities Co. Ltd. purchased a new position in shares of LendingClub in the 4th quarter worth $45,000. Sterling Capital Management LLC boosted its holdings in LendingClub by 818.6% in the fourth quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider's stock valued at $57,000 after acquiring an additional 3,119 shares during the last quarter. National Bank of Canada FI grew its position in LendingClub by 150.6% during the fourth quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider's stock valued at $66,000 after acquiring an additional 2,448 shares during the period. Finally, Jones Financial Companies Lllp grew its position in LendingClub by 49.2% during the fourth quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock valued at $97,000 after acquiring an additional 1,975 shares during the period. Institutional investors and hedge funds own 74.08% of the company's stock.

Insider Buying and Selling at LendingClub

In other news, CEO Scott Sanborn sold 5,250 shares of the company's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $10.34, for a total value of $54,285.00. Following the sale, the chief executive officer now owns 1,297,782 shares in the company, valued at approximately $13,419,065.88. This represents a 0.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael P. Zeisser acquired 20,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was purchased at an average cost of $9.35 per share, with a total value of $187,000.00. Following the completion of the acquisition, the director now owns 174,138 shares of the company's stock, valued at $1,628,190.30. The trade was a 12.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 21,000 shares of company stock worth $215,198 in the last 90 days. 3.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LC has been the topic of several research analyst reports. Wall Street Zen lowered LendingClub from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. reduced their price target on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a research report on Monday, March 10th. Keefe, Bruyette & Woods reduced their price target on shares of LendingClub from $15.00 to $14.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, Piper Sandler reissued an "overweight" rating and issued a $19.00 price objective (down previously from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. One 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $15.75.

LendingClub Stock Up 3.1%

Shares of LC traded up $0.31 during mid-day trading on Tuesday, reaching $10.17. 355,701 shares of the stock traded hands, compared to its average volume of 1,610,267. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 22.63 and a beta of 2.35. The stock has a fifty day simple moving average of $10.18 and a 200 day simple moving average of $13.19. LendingClub Co. has a 12-month low of $7.81 and a 12-month high of $18.75.

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

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.