Raymond James Financial Inc. Buys New Shares in LendingClub Co. (NYSE:LC)

Raymond James Financial Inc. purchased a new stake in LendingClub Co. (NYSE:LC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 104,770 shares of the credit services provider's stock, valued at approximately $1,696,000. Raymond James Financial Inc. owned approximately 0.09% of LendingClub as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in shares of LendingClub during the 4th quarter worth $45,000. National Bank of Canada FI lifted 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 worth $66,000 after purchasing an additional 2,448 shares during the period. Jones Financial Companies Lllp lifted 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 worth $97,000 after purchasing an additional 1,975 shares during the period. Sanctuary Advisors LLC acquired a new stake in LendingClub during the fourth quarter worth about $164,000. Finally, Vontobel Holding Ltd. bought a new position in LendingClub in the 4th quarter valued at about $166,000. 74.08% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $13.76, for a total transaction of $233,920.00. Following the completion of the transaction, the chief executive officer now owns 1,295,184 shares of the company's stock, valued at $17,821,731.84. This trade represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael P. Zeisser purchased 20,000 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were purchased at an average cost of $9.35 per share, for a total transaction of $187,000.00. Following the transaction, the director now directly owns 174,138 shares of the company's stock, valued at approximately $1,628,190.30. The trade was a 12.98 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 39,750 shares of company stock valued at $491,905 in the last three months. Insiders own 3.19% of the company's stock.

LendingClub Stock Performance

Shares of LendingClub stock traded up $0.28 on Wednesday, hitting $10.28. The stock had a trading volume of 1,198,770 shares, compared to its average volume of 1,619,717. The stock has a 50 day moving average of $10.33 and a 200 day moving average of $13.51. The firm has a market capitalization of $1.17 billion, a P/E ratio of 22.83 and a beta of 2.35. 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 released its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. LendingClub had a net margin of 6.52% and a return on equity of 4.16%. The firm had revenue of $217.71 million during the quarter, compared to the consensus estimate of $213.71 million. During the same quarter last year, the firm earned $0.11 earnings per share. The company's revenue for the quarter was up 21670.0% on a year-over-year basis. Equities analysts expect that LendingClub Co. will post 0.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LC has been the topic of several analyst reports. StockNews.com lowered shares of LendingClub from a "hold" rating to a "sell" rating in a research report on Tuesday. 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. 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, JPMorgan Chase & Co. lowered their target price on LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $15.75.

LendingClub 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.