LendingClub FY2024 EPS Estimate Lifted by Seaport Res Ptn

LendingClub Co. (NYSE:LC) – Investment analysts at Seaport Res Ptn lifted their FY2024 earnings per share estimates for shares of LendingClub in a research note issued to investors on Thursday, October 24th. Seaport Res Ptn analyst W. Ryan now expects that the credit services provider will earn $0.45 per share for the year, up from their prior estimate of $0.39. The consensus estimate for LendingClub’s current full-year earnings is $0.38 per share.

LendingClub (NYSE:LC) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.07 by $0.06. The firm had revenue of $201.90 million during the quarter, compared to the consensus estimate of $190.40 million. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the company earned $0.05 earnings per share.

Several other research analysts have also issued reports on the company. Keefe, Bruyette & Woods raised LendingClub from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $11.50 to $15.00 in a research report on Thursday, October 10th. StockNews.com raised LendingClub from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and set a $15.00 price objective (up from $13.00) on shares of LendingClub in a research report on Thursday. Jefferies Financial Group increased their price target on LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, Compass Point upped their target price on LendingClub from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.29.

LendingClub Price Performance

Shares of NYSE LC opened at $13.81 on Friday. The company has a 50 day simple moving average of $11.64 and a 200 day simple moving average of $9.98. LendingClub has a 1 year low of $4.73 and a 1 year high of $15.52. The firm has a market cap of $1.53 billion, a PE ratio of 40.62 and a beta of 2.04.

Institutional Trading of LendingClub

A number of hedge funds and other institutional investors have recently bought and sold shares of LC. AlphaMark Advisors LLC purchased a new stake in shares of LendingClub in the third quarter valued at about $32,000. EntryPoint Capital LLC raised its stake in shares of LendingClub by 44.9% during the 1st quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock valued at $66,000 after purchasing an additional 2,328 shares during the period. nVerses Capital LLC purchased a new stake in shares of LendingClub in the second quarter worth about $71,000. Innealta Capital LLC bought a new position in LendingClub in the 2nd quarter valued at $72,000. Finally, Blue Trust Inc. boosted its stake in LendingClub by 259.8% during the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock valued at $83,000 after buying an additional 5,247 shares during the period. Institutional investors own 74.08% of the company’s stock.

Insider Transactions at LendingClub

In related news, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $11.36, for a total transaction of $193,120.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 51,703 shares of company stock valued at $562,705 in the last 90 days. 3.31% of the stock is currently owned by corporate 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.