LendingClub (NYSE:LC) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

LendingClub (NYSE:LC) issued its quarterly earnings data on Tuesday. The credit services provider reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02, Zacks reports. LendingClub had a net margin of 6.85% and a return on equity of 4.02%.

LendingClub Stock Performance

NYSE:LC traded up $0.13 on Tuesday, reaching $16.77. The company’s stock had a trading volume of 3,345,190 shares, compared to its average volume of 1,588,574. The firm has a market cap of $1.88 billion, a PE ratio of 36.45 and a beta of 2.03. The business’s 50-day moving average price is $16.34 and its two-hundred day moving average price is $13.48. LendingClub has a 1-year low of $7.48 and a 1-year high of $18.75.

Analyst Ratings Changes

LC has been the subject of a number of analyst reports. Compass Point upped 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. JPMorgan Chase & Co. reissued a “neutral” rating and set a $17.00 target price (up from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods increased their target price on shares of LendingClub from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler boosted their price target on LendingClub from $15.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.63.

Insider Buying and Selling

In other LendingClub news, General Counsel Jordan Cheng sold 22,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was 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 in the company, valued at $1,325,579.55. This trade represents a 19.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total transaction of $274,040.00. Following the transaction, the chief executive officer now owns 1,312,184 shares in the company, valued at approximately $21,152,406.08. The trade was a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 73,000 shares of company stock valued at $1,122,710. 3.31% of the stock is owned by corporate insiders.

About LendingClub

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.