New York State Common Retirement Fund Buys 50,224 Shares of LendingClub Corporation $LC

New York State Common Retirement Fund grew its stake in shares of LendingClub Corporation (NYSE:LC) by 171.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,540 shares of the credit services provider’s stock after acquiring an additional 50,224 shares during the period. New York State Common Retirement Fund owned 0.07% of LendingClub worth $1,208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in LendingClub during the 2nd quarter worth approximately $53,000. State of Alaska Department of Revenue acquired a new stake in shares of LendingClub during the third quarter worth $69,000. Marex Group plc acquired a new stake in shares of LendingClub during the second quarter worth $120,000. MQS Management LLC bought a new stake in shares of LendingClub in the second quarter valued at about $121,000. Finally, Systematic Alpha Investments LLC acquired a new position in shares of LendingClub in the second quarter valued at about $122,000. Institutional investors and hedge funds own 74.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on LC. Janney Montgomery Scott lifted their price objective on shares of LendingClub from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. BTIG Research reiterated a “buy” rating and issued a $26.00 price target on shares of LendingClub in a research note on Thursday, January 29th. Keefe, Bruyette & Woods raised their price objective on LendingClub from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Citizens Jmp upgraded LendingClub from a “market perform” rating to an “outperform” rating and set a $23.00 target price for the company in a research report on Monday, November 10th. Finally, JPMorgan Chase & Co. increased their target price on LendingClub from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

Insider Activity at LendingClub

In other news, Director Erin Selleck sold 2,390 shares of the stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $19.47, for a total value of $46,533.30. Following the completion of the transaction, the director owned 76,377 shares of the company’s stock, valued at approximately $1,487,060.19. This represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.31% of the company’s stock.

LendingClub Stock Performance

Shares of LC stock opened at $17.25 on Tuesday. LendingClub Corporation has a fifty-two week low of $7.90 and a fifty-two week high of $21.67. The stock’s fifty day moving average price is $19.28 and its two-hundred day moving average price is $17.45. The company has a market cap of $1.99 billion, a PE ratio of 15.00 and a beta of 2.08.

LendingClub (NYSE:LC) last posted its quarterly earnings results on Wednesday, January 28th. The credit services provider reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $266.47 million during the quarter, compared to analysts’ expectations of $262.88 million. LendingClub had a return on equity of 9.62% and a net margin of 13.58%.LendingClub’s revenue was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.08 EPS. LendingClub has set its FY 2026 guidance at 1.650-1.800 EPS and its Q1 2026 guidance at 0.340-0.390 EPS. On average, equities analysts predict that LendingClub Corporation will post 0.72 EPS for the current fiscal year.

LendingClub announced that its Board of Directors has authorized a share repurchase plan on Wednesday, November 5th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the credit services provider to buy up to 4.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

About LendingClub

LendingClub Corporation operates an online lending marketplace that connects borrowers seeking personal and small business credit with individual and institutional investors. The platform leverages technology to streamline the loan application and underwriting process, offering unsecured personal loans, auto refinancing, and small business loans. In addition to lending products, LendingClub provides high-yield savings accounts and certificates of deposit through its banking charter, following its acquisition of Radius Bank in 2021.

Founded in 2006 by Renaud Laplanche, LendingClub pioneered peer-to-peer lending in the United States, helping to democratize access to credit and investment opportunities.