Evercore Wealth Management buys $12,715,238 stake in LendingClub Corp (LC)

LendingClub Corp (LC) : Evercore Wealth Management scooped up 1,069,870 additional shares in LendingClub Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 2,740,353 shares of LendingClub Corp which is valued at $12,715,238.LendingClub Corp makes up approximately 0.55% of Evercore Wealth Management’s portfolio.

Other Hedge Funds, Including , Aberdeen Asset Management Plcuk added LC to its portfolio by purchasing 100,866 company shares during the most recent quarter which is valued at $468,018. Quantitative Systematic Strategies added LC to its portfolio by purchasing 132,159 company shares during the most recent quarter which is valued at $610,575. LendingClub Corp makes up approx 0.26% of Quantitative Systematic Strategies’s portfolio. Public Employees Retirement Association Of Colorado sold out all of its stake in LC during the most recent quarter. The investment firm sold 2,143 shares of LC which is valued $9,901. Nisa Investment Advisors added LC to its portfolio by purchasing 4,000 company shares during the most recent quarter which is valued at $18,400.Cutler Group Lp boosted its stake in LC in the latest quarter, The investment management firm added 192,042 additional shares and now holds a total of 209,068 shares of LendingClub Corp which is valued at $888,539. LendingClub Corp makes up approx 0.06% of Cutler Group Lp’s portfolio.

LendingClub Corp closed down -0.04 points or -0.86% at $4.6 with 71,25,631 shares getting traded on Thursday. Post opening the session at $4.65, the shares hit an intraday low of $4.53 and an intraday high of $4.78 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, LendingClub Corp reported $0.05 EPS for the quarter, based on the information available during the earnings call on May 9, 2016. Analyst had a consensus estimate of $0.05. The company had revenue of $151.30 million for the quarter, compared to analysts expectations of $147.90 million. The company’s revenue was up 86.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.

Many Wall Street Analysts have commented on LendingClub Corp. LendingClub Corp was Upgraded by Keefe Bruyette to ” Mkt Perform” on Jun 8, 2016. Shares were Downgraded by FBR Capital on Jun 8, 2016 to ” Mkt Perform” and Lowered the Price Target to $ 4 from a previous price target of $7 .LendingClub Corp was Resumed by Morgan Stanley to “Equal-Weight” on May 31, 2016.

LendingClub Corporation (Lending Club) is engaged in providing online marketplace for connecting borrowers and investors. The Company’s online marketplace connects borrowers. Lending Club’s marketplace allows borrowers and investors to engage in transactions relating to standard or custom program loans. The Company’s standard program loans are a part of the standard loan program. The standard program loans are three- or five-year unsecured personal loans which are offered to borrowers. These loans can be invested in through the purchase of notes issued pursuant to a Note Registration Statement and are available through the Company’s Website. The custom program loans include small business loans super prime consumer loans education and patient finance loans and personal loans. The Company’s technology platform supports its marketplace and makes available loan products to investor channels.

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