Northern Trust Corp Grows Stock Position in LendingClub Co. (NYSE:LC)

Northern Trust Corp increased its stake in LendingClub Co. (NYSE:LC - Free Report) by 6.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,048,618 shares of the credit services provider's stock after purchasing an additional 59,186 shares during the quarter. Northern Trust Corp owned approximately 0.93% of LendingClub worth $16,977,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in LendingClub in the 4th quarter worth approximately $45,000. Sterling Capital Management LLC increased its position in 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 buying an additional 3,119 shares during the period. National Bank of Canada FI increased its position in 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 buying an additional 2,448 shares during the period. Jones Financial Companies Lllp increased its position in 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 buying an additional 1,975 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in LendingClub in the 4th quarter worth approximately $164,000. Hedge funds and other institutional investors own 74.08% of the company's stock.

Insider Transactions at LendingClub

In related news, CEO Scott Sanborn sold 5,250 shares of the stock in a transaction 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 sale, the chief executive officer now owns 1,303,032 shares in the company, valued at approximately $13,030,320. This trade represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Jordan Cheng sold 7,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total value of $98,700.00. Following 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 position. The disclosure for this sale can be found here. Insiders sold a total of 28,000 shares of company stock valued at $313,898 over the last ninety days. 3.19% of the stock is currently owned by insiders.

LendingClub Trading Down 0.5%

NYSE LC traded down $0.05 during midday trading on Tuesday, hitting $10.52. The company had a trading volume of 48,491 shares, compared to its average volume of 1,602,723. The company has a market capitalization of $1.20 billion, a PE ratio of 23.35 and a beta of 2.35. The firm has a 50-day moving average price of $10.26 and a 200-day moving average price of $13.35. LendingClub Co. has a twelve month low of $7.81 and a twelve month high of $18.75.

LendingClub (NYSE:LC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.10. The company had revenue of $217.71 million for 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 was up 21670.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 EPS. On average, equities analysts anticipate that LendingClub Co. will post 0.72 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.