LendingClub Corporation $LC Shares Purchased by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in LendingClub Corporation by 8.7%, owning approximately 1,004,943 shares valued at about $10.37 million.
• Insider trading was noted, with CEO Scott Sanborn and CFO Andrew Labenne selling a combined total of 23,205 shares, indicating a decrease in their ownership positions.
• LendingClub reported a 14.1% increase in revenue year-over-year, achieving $248.44 million, with earnings per share surpassing analyst expectations at $0.33.

Charles Schwab Investment Management Inc. lifted its holdings in shares of LendingClub Corporation (NYSE:LC - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,004,943 shares of the credit services provider's stock after acquiring an additional 80,100 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.88% of LendingClub worth $10,371,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Comerica Bank purchased a new stake in shares of LendingClub during the 4th quarter valued at approximately $37,000. KBC Group NV bought a new position in shares of LendingClub in the 1st quarter worth $67,000. Asset Management One Co. Ltd. grew its holdings in shares of LendingClub by 95.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 9,526 shares of the credit services provider's stock valued at $98,000 after purchasing an additional 4,651 shares during the last quarter. Brevan Howard Capital Management LP bought a new stake in LendingClub in the 4th quarter worth $187,000. Finally, Highland Capital Management LLC grew its holdings in LendingClub by 24.4% in the 1st quarter. Highland Capital Management LLC now owns 13,841 shares of the credit services provider's stock worth $143,000 after acquiring an additional 2,717 shares during the last quarter. 74.08% of the stock is owned by institutional investors.

LendingClub Price Performance

NYSE LC traded up $0.06 on Friday, hitting $17.31. The company had a trading volume of 772,880 shares, compared to its average volume of 1,702,645. LendingClub Corporation has a 12-month low of $7.90 and a 12-month high of $18.75. The company has a market capitalization of $1.99 billion, a PE ratio of 27.06 and a beta of 2.46. The company's fifty day moving average price is $13.92 and its 200-day moving average price is $11.90.

LendingClub (NYSE:LC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit services provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.18. The business had revenue of $248.44 million for the quarter, compared to analysts' expectations of $227.04 million. LendingClub had a net margin of 8.36% and a return on equity of 5.66%. The business's quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 earnings per share. On average, sell-side analysts anticipate that LendingClub Corporation will post 0.72 EPS for the current year.

Insider Buying and Selling at LendingClub

In other news, CFO Andrew Labenne sold 17,955 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $16.65, for a total transaction of $298,950.75. Following the completion of the sale, the chief financial officer owned 178,111 shares in the company, valued at approximately $2,965,548.15. The trade was a 9.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott Sanborn sold 5,250 shares of the business's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $12.98, for a total value of $68,145.00. Following the sale, the chief executive officer owned 1,283,175 shares of the company's stock, valued at $16,655,611.50. The trade was a 0.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,955 shares of company stock valued at $545,648 in the last ninety days. Corporate insiders own 3.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LC shares. Citizens Jmp started coverage on shares of LendingClub in a research report on Monday, July 7th. They set a "market perform" rating for the company. Stephens assumed coverage on shares of LendingClub in a research note on Thursday, June 12th. They issued an "overweight" rating and a $15.00 price target for the company. Keefe, Bruyette & Woods boosted their target price on shares of LendingClub from $14.00 to $16.50 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Citigroup initiated coverage on shares of LendingClub in a report on Monday, July 7th. They set a "market perform" rating on the stock. Finally, Piper Sandler set a $15.50 target price on shares of LendingClub and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, LendingClub presently has a consensus rating of "Moderate Buy" and an average target price of $16.57.

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.