Northern Trust Corp Has $16.98 Million Holdings in LendingClub Co. (NYSE:LC)

Northern Trust Corp boosted its holdings in LendingClub Co. (NYSE:LC - Free Report) by 6.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,048,618 shares of the credit services provider's stock after buying an additional 59,186 shares during the quarter. Northern Trust Corp owned approximately 0.93% of LendingClub worth $16,977,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of LC. SBI Securities Co. Ltd. bought a new position in LendingClub in the fourth quarter valued at about $45,000. Sterling Capital Management LLC raised its position 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 purchasing an additional 3,119 shares during the last quarter. National Bank of Canada FI raised its position in LendingClub by 150.6% in 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 purchasing an additional 2,448 shares during the last quarter. Jones Financial Companies Lllp raised its position in LendingClub by 49.2% in the fourth quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock valued at $97,000 after purchasing an additional 1,975 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in LendingClub in the fourth quarter valued at about $164,000. 74.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LC. Keefe, Bruyette & Woods lowered their price objective on LendingClub from $15.00 to $14.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. JPMorgan Chase & Co. lowered their price objective on LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a research report on Monday, March 10th. Piper Sandler restated an "overweight" rating and set a $19.00 price objective (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, StockNews.com downgraded LendingClub from a "hold" rating to a "sell" rating in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $15.75.

Insiders Place Their Bets

In other news, General Counsel Jordan Cheng sold 7,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total transaction of $98,700.00. Following the completion of the sale, the general counsel now owns 88,263 shares in the company, valued at $1,244,508.30. The trade was a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael P. Zeisser acquired 20,000 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were purchased at an average price of $9.35 per share, with a total value of $187,000.00. Following the acquisition, the director now owns 174,138 shares of the company's stock, valued at approximately $1,628,190.30. This represents a 12.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 22,750 shares of company stock worth $257,985. 3.19% of the stock is owned by corporate insiders.

LendingClub Stock Performance

Shares of LC stock opened at $11.14 on Thursday. The company has a market cap of $1.27 billion, a P/E ratio of 24.76 and a beta of 2.35. The stock has a 50 day simple moving average of $10.25 and a two-hundred day simple moving average of $13.44. LendingClub Co. has a fifty-two week low of $7.81 and a fifty-two week high of $18.75.

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

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.

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