LendingClub FY2024 EPS Forecast Lifted by Seaport Res Ptn

LendingClub Co. (NYSE:LC - Free Report) - Investment analysts at Seaport Res Ptn raised their FY2024 earnings per share estimates for LendingClub in a report released on Thursday, October 24th. Seaport Res Ptn analyst W. Ryan now expects that the credit services provider will post earnings of $0.45 per share for the year, up from their previous forecast of $0.39. The consensus estimate for LendingClub's current full-year earnings is $0.39 per share.

LendingClub (NYSE:LC - Get Free Report) last released its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.06. The business had revenue of $201.90 million for the quarter, compared to the consensus estimate of $190.40 million. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. The business's revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 EPS.

LC has been the topic of several other reports. StockNews.com cut shares of LendingClub from a "hold" rating to a "sell" rating in a research report on Friday. JPMorgan Chase & Co. lifted their price target on LendingClub from $12.00 to $14.00 and gave the company an "overweight" rating in a report on Tuesday, August 20th. Piper Sandler reissued an "overweight" rating and issued a $15.00 price objective (up from $13.00) on shares of LendingClub in a research note on Thursday. Wedbush lifted their target price on LendingClub from $14.00 to $17.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Maxim Group upped their target price on LendingClub from $16.00 to $19.00 and gave the company a "buy" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.38.

LendingClub Trading Down 1.7 %

Shares of LendingClub stock traded down $0.23 on Friday, reaching $13.59. 2,407,502 shares of the company were exchanged, compared to its average volume of 1,446,909. LendingClub has a fifty-two week low of $4.73 and a fifty-two week high of $15.52. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 35.76 and a beta of 2.04. The stock has a fifty day moving average price of $11.69 and a 200-day moving average price of $10.02.

Institutional Trading of LendingClub

Several institutional investors have recently modified their holdings of LC. International Assets Investment Management LLC boosted its position in shares of LendingClub by 5.3% during the 2nd quarter. International Assets Investment Management LLC now owns 19,900 shares of the credit services provider's stock valued at $168,000 after acquiring an additional 1,000 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of LendingClub by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 302,844 shares of the credit services provider's stock valued at $2,562,000 after purchasing an additional 1,445 shares during the period. ProShare Advisors LLC raised its holdings in shares of LendingClub by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 19,518 shares of the credit services provider's stock worth $172,000 after buying an additional 1,536 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of LendingClub by 16.3% during the 2nd quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider's stock worth $104,000 after buying an additional 1,732 shares during the period. Finally, Swiss National Bank boosted its stake in LendingClub by 1.0% in the 1st quarter. Swiss National Bank now owns 216,360 shares of the credit services provider's stock valued at $1,902,000 after buying an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 74.08% of the company's stock.

Insider Buying and Selling

In other news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $11.36, for a total value of $193,120.00. Following the completion of the sale, the chief executive officer now directly owns 1,373,273 shares of the company's stock, valued at approximately $15,600,381.28. This represents a 0.00 % 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 this hyperlink. In the last 90 days, insiders sold 51,703 shares of company stock valued at $562,705. Insiders own 3.31% of the company's stock.

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.