LendingClub (NYSE:LC) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

LendingClub (NYSE:LC - Get Free Report) posted its quarterly earnings data on Tuesday. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02, Zacks reports. LendingClub had a net margin of 6.52% and a return on equity of 4.20%. During the same quarter in the prior year, the business posted $0.09 EPS.

LendingClub Stock Down 5.3 %

Shares of LC traded down $0.76 during trading hours on Friday, reaching $13.53. The stock had a trading volume of 3,369,619 shares, compared to its average volume of 2,289,335. The company has a market cap of $1.52 billion, a P/E ratio of 30.08 and a beta of 2.03. LendingClub has a 52 week low of $7.48 and a 52 week high of $18.75. The firm has a 50-day moving average of $16.33 and a 200 day moving average of $13.54.

Insiders Place Their Bets

In related news, General Counsel Jordan Cheng sold 22,000 shares of the company's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $14.83, for a total value of $326,260.00. Following the completion of the transaction, the general counsel now directly owns 89,385 shares of the company's stock, valued at approximately $1,325,579.55. This represents a 19.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total value of $274,040.00. Following the completion of the sale, the chief executive officer now directly owns 1,312,184 shares in the company, valued at $21,152,406.08. This represents a 1.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,000 shares of company stock worth $1,122,710. Corporate insiders own 3.31% of the company's stock.

Analyst Upgrades and Downgrades

LC has been the subject of a number of recent research reports. Compass Point increased their price objective on shares of LendingClub from $15.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Piper Sandler restated an "overweight" rating and set a $19.00 target price (down previously from $20.00) on shares of LendingClub in a research report on Wednesday. Keefe, Bruyette & Woods restated an "outperform" rating and set a $16.00 target price (down previously from $17.00) on shares of LendingClub in a research report on Wednesday. Maxim Group lifted their price objective on LendingClub from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Finally, Wedbush upped their target price on shares of LendingClub from $14.00 to $17.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, LendingClub presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.38.

LendingClub Company 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.