Citizens Financial Group Inc. RI Has $342,000 Stake in LendingClub Co. (NYSE:LC)

Citizens Financial Group Inc. RI reduced its stake in shares of LendingClub Co. (NYSE:LC) by 29.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 21,120 shares of the credit services provider’s stock after selling 9,000 shares during the period. Citizens Financial Group Inc. RI’s holdings in LendingClub were worth $342,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in shares of LendingClub during the 4th quarter valued at approximately $45,000. FMR LLC raised its stake in LendingClub by 32.1% during the third quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock worth $67,000 after buying an additional 1,424 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of LendingClub by 49.2% in the 4th 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 period. Sanctuary Advisors LLC acquired a new position in LendingClub in the fourth quarter valued at approximately $164,000. Finally, Vontobel Holding Ltd. bought a new position in LendingClub during the fourth quarter worth $166,000. 74.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LC has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price target on LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $16.00 price objective (down from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $19.00 target price (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $16.00.

Insider Transactions at LendingClub

In related news, General Counsel Jordan Cheng sold 7,000 shares of LendingClub stock in a transaction 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 of the company’s stock, valued at approximately $1,244,508.30. This trade represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $13.76, for a total value of $233,920.00. Following the transaction, the chief executive officer now directly owns 1,295,184 shares of the company’s stock, valued at $17,821,731.84. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,000 shares of company stock valued at $606,660 over the last three months. Company insiders own 3.31% of the company’s stock.

LendingClub Trading Down 3.4 %

LC opened at $10.39 on Friday. The company has a market cap of $1.18 billion, a PE ratio of 23.08 and a beta of 2.07. The company has a 50 day moving average of $14.08 and a 200 day moving average of $13.92. LendingClub Co. has a 12 month low of $7.48 and a 12 month high of $18.75.

About LendingClub

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.