LendingClub (NYSE:LC) Releases Earnings Results, Beats Estimates By $0.06 EPS

LendingClub (NYSE:LC) issued its quarterly earnings results on Wednesday. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06, Briefing.com reports. The firm had revenue of $201.90 million during the quarter, compared to analyst estimates of $190.40 million. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. LendingClub’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the company earned $0.05 EPS.

LendingClub Stock Performance

LC stock traded up $1.35 during trading on Thursday, reaching $13.81. 8,588,719 shares of the company traded hands, compared to its average volume of 1,442,114. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 40.62 and a beta of 2.04. The business has a 50 day simple moving average of $11.64 and a 200 day simple moving average of $9.98. LendingClub has a 12 month low of $4.73 and a 12 month high of $15.52.

Wall Street Analysts Forecast Growth

LC has been the topic of a number of research analyst reports. Piper Sandler restated an “overweight” rating and issued a $15.00 price target (up from $13.00) on shares of LendingClub in a report on Thursday. JPMorgan Chase & Co. upped their target price on shares of LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Jefferies Financial Group lifted their price target on shares of LendingClub from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. StockNews.com raised LendingClub from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Wedbush lifted their target price on LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $14.29.

Insider Buying and Selling at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $11.36, for a total value of $193,120.00. Following the transaction, the chief executive officer now owns 1,373,273 shares of the company’s stock, valued at $15,600,381.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 51,703 shares of company stock valued at $562,705. 3.31% of the stock is currently owned by insiders.

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.