LendingClub Co. (NYSE:LC) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its holdings in shares of LendingClub Co. (NYSE:LC) by 41.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 107,078 shares of the credit services provider’s stock after selling 76,741 shares during the period. Federated Hermes Inc. owned approximately 0.10% of LendingClub worth $936,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LC. Jacobs Levy Equity Management Inc. lifted its stake in LendingClub by 526.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,884,751 shares of the credit services provider’s stock valued at $11,497,000 after buying an additional 1,583,882 shares in the last quarter. Wellington Management Group LLP purchased a new position in LendingClub in the 3rd quarter valued at about $2,970,000. Nordea Investment Management AB lifted its stake in LendingClub by 190.8% in the 3rd quarter. Nordea Investment Management AB now owns 609,966 shares of the credit services provider’s stock worth $3,733,000 after purchasing an additional 400,189 shares in the last quarter. International Assets Investment Management LLC lifted its stake in LendingClub by 617.9% in the 4th quarter. International Assets Investment Management LLC now owns 265,696 shares of the credit services provider’s stock worth $2,322,000 after purchasing an additional 228,684 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in LendingClub by 33.2% in the 3rd quarter. American Century Companies Inc. now owns 776,505 shares of the credit services provider’s stock worth $4,737,000 after purchasing an additional 193,455 shares in the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

LendingClub Stock Up 19.4 %

LC stock opened at $8.98 on Thursday. The firm has a market cap of $997.86 million, a PE ratio of 24.94 and a beta of 1.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.83 and a current ratio of 0.89. The firm’s 50 day moving average price is $8.18 and its 200-day moving average price is $7.61. LendingClub Co. has a one year low of $4.73 and a one year high of $10.92.

LendingClub (NYSE:LC) last posted its earnings results on Tuesday, April 30th. The credit services provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.08. LendingClub had a net margin of 4.50% and a return on equity of 3.21%. The firm had revenue of $180.69 million during the quarter, compared to the consensus estimate of $174.52 million. During the same quarter last year, the firm earned $0.13 EPS. On average, equities research analysts anticipate that LendingClub Co. will post 0.23 EPS for the current year.

Wall Street Analysts Forecast Growth

LC has been the topic of a number of research reports. Keefe, Bruyette & Woods raised their target price on shares of LendingClub from $9.50 to $10.00 and gave the stock a “market perform” rating in a research note on Wednesday. Piper Sandler reissued an “overweight” rating and issued a $10.00 target price (up from $9.50) on shares of LendingClub in a research note on Wednesday. StockNews.com lowered shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Finally, Wedbush reissued an “outperform” rating and issued a $11.00 target price on shares of LendingClub in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, LendingClub has a consensus rating of “Moderate Buy” and a consensus target price of $11.42.

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.