Swiss National Bank Sells 22,000 Shares of LendingClub Co. (NYSE:LC)

Swiss National Bank cut its stake in LendingClub Co. (NYSE:LC) by 9.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 214,260 shares of the credit services provider’s stock after selling 22,000 shares during the period. Swiss National Bank’s holdings in LendingClub were worth $1,873,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its stake in shares of LendingClub by 363.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,999 shares of the credit services provider’s stock worth $61,000 after acquiring an additional 5,489 shares in the last quarter. Maltin Wealth Management Inc. bought a new position in shares of LendingClub during the 4th quarter valued at $87,000. Pathstone Family Office LLC purchased a new position in LendingClub in the 3rd quarter worth $65,000. Acadian Asset Management LLC bought a new stake in LendingClub in the third quarter worth $91,000. Finally, CenterBook Partners LP purchased a new stake in LendingClub during the third quarter valued at about $93,000. Institutional investors own 74.08% of the company’s stock.

LendingClub Price Performance

Shares of NYSE:LC opened at $9.02 on Friday. LendingClub Co. has a 1 year low of $4.73 and a 1 year high of $10.92. The stock’s 50-day moving average is $8.59 and its 200 day moving average is $8.06. The company has a market cap of $1.00 billion, a PE ratio of 26.53 and a beta of 2.00.

LendingClub (NYSE:LC) last posted its earnings results on Tuesday, April 30th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.08. The firm had revenue of $180.69 million for the quarter, compared to analysts’ expectations of $174.52 million. LendingClub had a return on equity of 3.04% and a net margin of 4.69%. During the same period in the previous year, the firm earned $0.13 earnings per share. Analysts expect that LendingClub Co. will post 0.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LC. StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. Wedbush reaffirmed an “outperform” rating and issued a $11.00 price target on shares of LendingClub in a research note on Wednesday, May 1st. Keefe, Bruyette & Woods increased their price objective on LendingClub from $9.50 to $10.00 and gave the company a “market perform” rating in a research note on Wednesday, May 1st. Finally, Piper Sandler restated an “overweight” rating and issued a $10.00 target price (up previously from $9.50) on shares of LendingClub in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.42.

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.