Deutsche Bank AG Acquires 185,761 Shares of LendingClub Co. (NYSE:LC)

Deutsche Bank AG boosted its holdings in shares of LendingClub Co. (NYSE:LC) by 63.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 476,469 shares of the credit services provider’s stock after purchasing an additional 185,761 shares during the period. Deutsche Bank AG’s holdings in LendingClub were worth $7,714,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC lifted its position in shares of LendingClub by 206.6% in the 3rd quarter. Barclays PLC now owns 225,902 shares of the credit services provider’s stock worth $2,582,000 after purchasing an additional 152,224 shares during the period. SG Americas Securities LLC raised its stake in LendingClub by 699.5% in the fourth quarter. SG Americas Securities LLC now owns 318,745 shares of the credit services provider’s stock worth $5,160,000 after buying an additional 278,879 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in LendingClub in the fourth quarter worth about $280,000. Highland Capital Management LLC bought a new stake in LendingClub during the 4th quarter valued at approximately $180,000. Finally, Entropy Technologies LP bought a new stake in LendingClub during the 4th quarter valued at approximately $199,000. Institutional investors own 74.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LC shares. StockNews.com lowered LendingClub from a “hold” rating to a “sell” rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. dropped their target price on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Piper Sandler reiterated an “overweight” rating and issued a $19.00 price target (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of LendingClub from $15.00 to $14.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. One 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.75.

LendingClub Price Performance

Shares of LendingClub stock opened at $10.62 on Friday. LendingClub Co. has a 1 year low of $7.81 and a 1 year high of $18.75. The firm’s 50-day moving average is $10.26 and its 200 day moving average is $13.39. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 23.60 and a beta of 2.35.

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

Insider Buying and Selling at LendingClub

In related news, Director Michael P. Zeisser acquired 20,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were bought at an average price of $9.35 per share, for a total transaction of $187,000.00. Following the completion of the transaction, the director now directly owns 174,138 shares in the company, valued at approximately $1,628,190.30. This trade represents a 12.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Jordan Cheng sold 7,000 shares of the firm’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. This represents a 7.35% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,000 shares of company stock worth $313,898. Insiders own 3.19% 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.