Hsbc Holdings PLC Boosts Position in LendingClub Corporation $LC

Hsbc Holdings PLC increased its holdings in shares of LendingClub Corporation (NYSE:LC - Free Report) by 71.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,176 shares of the credit services provider's stock after purchasing an additional 16,367 shares during the quarter. Hsbc Holdings PLC's holdings in LendingClub were worth $405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. Quantbot Technologies LP lifted its holdings in LendingClub by 115.0% in the first quarter. Quantbot Technologies LP now owns 308,599 shares of the credit services provider's stock valued at $3,185,000 after acquiring an additional 165,069 shares during the period. Wellington Management Group LLP raised its stake in shares of LendingClub by 36.0% in the first quarter. Wellington Management Group LLP now owns 5,167,642 shares of the credit services provider's stock worth $53,330,000 after buying an additional 1,368,057 shares during the period. Cresset Asset Management LLC grew its position in shares of LendingClub by 2.5% during the first quarter. Cresset Asset Management LLC now owns 371,814 shares of the credit services provider's stock worth $3,837,000 after purchasing an additional 8,900 shares in the last quarter. Marathon Trading Investment Management LLC purchased a new stake in shares of LendingClub during the first quarter worth about $251,000. Finally, Fox Run Management L.L.C. grew its position in shares of LendingClub by 7.7% during the first quarter. Fox Run Management L.L.C. now owns 70,325 shares of the credit services provider's stock worth $726,000 after purchasing an additional 5,005 shares in the last quarter. Institutional investors own 74.08% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on LC shares. Piper Sandler set a $15.50 price target on LendingClub and gave the company an "overweight" rating in a report on Wednesday, July 30th. Keefe, Bruyette & Woods raised their price target on LendingClub from $14.00 to $16.50 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Wall Street Zen raised LendingClub from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Stephens started coverage on LendingClub in a research report on Thursday, June 12th. They set an "overweight" rating and a $15.00 target price for the company. Finally, Citizens Jmp assumed coverage on LendingClub in a research report on Monday, July 7th. They issued a "market perform" rating for the company. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $16.57.

LendingClub Stock Down 0.6%

Shares of NYSE LC traded down $0.10 during midday trading on Friday, hitting $16.59. The stock had a trading volume of 1,310,455 shares, compared to its average volume of 1,395,117. The company has a market capitalization of $1.90 billion, a PE ratio of 25.92 and a beta of 2.53. The stock has a 50 day simple moving average of $14.55 and a 200-day simple moving average of $12.03. LendingClub Corporation has a 1 year low of $7.90 and a 1 year high of $18.75.

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

Insider Activity

In related news, CEO Scott Sanborn sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $16.65, for a total transaction of $499,500.00. Following the completion of the sale, the chief executive officer owned 1,270,070 shares in the company, valued at $21,146,665.50. The trade was a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew Labenne sold 17,955 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $16.65, for a total value of $298,950.75. Following the sale, the chief financial officer owned 178,111 shares of the company's stock, valued at approximately $2,965,548.15. The trade was a 9.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,705 shares of company stock valued at $991,073. 3.19% of the stock is currently owned by corporate insiders.

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.