Citizens Financial Group Inc. RI Has $344,000 Stock Holdings in LendingClub Co. (NYSE:LC)

Citizens Financial Group Inc. RI decreased its position in shares of LendingClub Co. (NYSE:LC) by 16.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,120 shares of the credit services provider’s stock after selling 6,000 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in LendingClub were worth $344,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of LC. Vanguard Group Inc. grew its stake in LendingClub by 1.6% in the first quarter. Vanguard Group Inc. now owns 11,446,014 shares of the credit services provider’s stock valued at $100,610,000 after acquiring an additional 175,706 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of LendingClub by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock valued at $49,901,000 after purchasing an additional 300,536 shares in the last quarter. American Century Companies Inc. grew its position in shares of LendingClub by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock valued at $14,032,000 after purchasing an additional 329,279 shares during the period. Assenagon Asset Management S.A. increased its stake in LendingClub by 120.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider’s stock worth $17,351,000 after purchasing an additional 828,958 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in LendingClub by 3.3% during the 2nd quarter. Bank of Montreal Can now owns 782,627 shares of the credit services provider’s stock worth $6,621,000 after buying an additional 24,927 shares during the period. Institutional investors and hedge funds own 74.08% of the company’s stock.

Analyst Ratings Changes

LC has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Piper Sandler reissued an “overweight” rating and issued a $15.00 price target (up previously from $13.00) on shares of LendingClub in a research note on Thursday, October 24th. Maxim Group upped their price objective on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods raised LendingClub from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $11.50 to $15.00 in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.38.

LendingClub Stock Performance

Shares of NYSE LC opened at $16.73 on Friday. The stock has a 50 day moving average price of $13.09 and a 200 day moving average price of $10.95. The stock has a market capitalization of $1.88 billion, a PE ratio of 36.35 and a beta of 2.01. LendingClub Co. has a 52 week low of $5.51 and a 52 week high of $16.75.

LendingClub (NYSE:LC) last released its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.07 by $0.06. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The company had revenue of $201.90 million during the quarter, compared to the consensus estimate of $190.40 million. During the same quarter in the prior year, the firm posted $0.05 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, research analysts forecast that LendingClub Co. will post 0.47 EPS for the current year.

Insider Transactions at LendingClub

In other news, General Counsel Jordan Cheng sold 22,000 shares of LendingClub stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $14.83, for a total transaction of $326,260.00. Following the completion of the transaction, the general counsel now directly owns 89,385 shares in the company, valued at approximately $1,325,579.55. The trade was a 19.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John C. Morris sold 2,500 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $14.36, for a total value of $35,900.00. Following the sale, the director now directly owns 203,348 shares of the company’s stock, valued at $2,920,077.28. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,500 shares of company stock worth $996,940 in the last ninety days. Insiders own 3.31% of the company’s stock.

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.