FY2024 EPS Estimates for LendingClub Increased by Analyst

LendingClub Co. (NYSE:LC) – Equities research analysts at Seaport Res Ptn boosted their FY2024 EPS estimates for LendingClub in a report issued on Thursday, October 24th. Seaport Res Ptn analyst W. Ryan now forecasts 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) last posted its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.06. The business had revenue of $201.90 million for 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 revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the company earned $0.05 EPS.

Several other equities analysts also recently commented on LC. Maxim Group upped their price objective on shares of LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday. Wedbush increased their price objective on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. StockNews.com lowered LendingClub from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Compass Point boosted their price objective on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.38.

LendingClub Stock Down 1.7 %

NYSE:LC opened at $13.59 on Friday. The firm has a market capitalization of $1.52 billion, a P/E ratio of 35.76 and a beta of 2.04. The company has a fifty day moving average of $11.69 and a 200 day moving average of $10.02. LendingClub has a 52 week low of $4.73 and a 52 week high of $15.52.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LC. SteelPeak Wealth LLC bought a new stake in shares of LendingClub in the 3rd quarter worth $562,000. Assenagon Asset Management S.A. boosted its position in shares of LendingClub by 120.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider’s stock valued at $17,351,000 after buying an additional 828,958 shares during the last quarter. International Assets Investment Management LLC increased its holdings in LendingClub by 813.3% in the 3rd quarter. International Assets Investment Management LLC now owns 181,737 shares of the credit services provider’s stock worth $2,077,000 after buying an additional 161,837 shares in the last quarter. Blue Trust Inc. raised its position in LendingClub by 259.8% in the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after buying an additional 5,247 shares during the last quarter. Finally, AlphaMark Advisors LLC bought a new position in LendingClub during the 3rd quarter valued at about $32,000. Institutional investors own 74.08% of the company’s stock.

Insider Transactions at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction 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 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 SEC, which is accessible through this link. Insiders have sold a total of 51,703 shares of company stock valued at $562,705 in the last ninety days. 3.31% of the stock is currently 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.