LendingClub Corp (LC) Shares Sold by Evercore Wealth Management LLC

Evercore Wealth Management LLC trimmed its stake in shares of LendingClub Corp (NYSE:LC) by 96.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,640 shares of the credit services provider’s stock after selling 1,841,723 shares during the quarter. Evercore Wealth Management LLC’s holdings in LendingClub were worth $473,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Royce & Associates LP increased its stake in LendingClub by 8.9% in the 2nd quarter. Royce & Associates LP now owns 565,365 shares of the credit services provider’s stock valued at $3,115,000 after purchasing an additional 46,000 shares in the last quarter. JPMorgan Chase & Co. increased its position in LendingClub by 497.8% during the second quarter. JPMorgan Chase & Co. now owns 3,345,149 shares of the credit services provider’s stock worth $18,432,000 after buying an additional 2,785,549 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in LendingClub by 1,284.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,791,600 shares of the credit services provider’s stock worth $15,382,000 after buying an additional 2,590,000 shares in the last quarter. Evergreen Capital Management LLC increased its position in LendingClub by 15.4% during the second quarter. Evergreen Capital Management LLC now owns 435,625 shares of the credit services provider’s stock worth $2,400,000 after buying an additional 58,190 shares in the last quarter. Finally, Brighton Jones LLC purchased a new position in LendingClub during the second quarter worth $154,000. 86.84% of the stock is owned by institutional investors.

In other news, CEO Scott Sanborn sold 47,273 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $4.23, for a total transaction of $199,964.79. Following the sale, the chief executive officer now owns 1,034,734 shares in the company, valued at $4,376,924.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John J. Mack acquired 20,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were acquired at an average price of $4.28 per share, for a total transaction of $85,600.00. Following the acquisition, the director now directly owns 1,513,673 shares of the company’s stock, valued at $6,478,520.44. The disclosure for this purchase can be found here. Insiders have sold 88,765 shares of company stock worth $458,573 in the last 90 days. Insiders own 9.72% of the company’s stock.

Several equities analysts have weighed in on LC shares. BidaskClub downgraded LendingClub from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 21st. Vetr downgraded LendingClub from a “buy” rating to a “hold” rating and set a $6.55 price target for the company. in a research report on Monday, September 4th. Zacks Investment Research downgraded LendingClub from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Maxim Group started coverage on LendingClub in a research report on Tuesday, November 7th. They set a “buy” rating and a $8.00 price target for the company. Finally, Needham & Company LLC started coverage on LendingClub in a research report on Wednesday, November 1st. They set a “buy” rating and a $7.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. LendingClub presently has a consensus rating of “Hold” and an average price target of $6.89.

LendingClub Corp (NYSE LC) traded down $0.04 during mid-day trading on Tuesday, hitting $4.33. The stock had a trading volume of 1,855,850 shares, compared to its average volume of 6,265,633. LendingClub Corp has a 1-year low of $4.05 and a 1-year high of $6.78. The company has a debt-to-equity ratio of 3.52, a quick ratio of 16.90 and a current ratio of 18.02.

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LendingClub Company Profile

LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors.

Institutional Ownership by Quarter for LendingClub (NYSE:LC)

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