Q2 2024 Earnings Forecast for LendingClub Co. Issued By Seaport Res Ptn (NYSE:LC)

LendingClub Co. (NYSE:LC) – Seaport Res Ptn reduced their Q2 2024 earnings estimates for shares of LendingClub in a research note issued on Wednesday, May 1st. Seaport Res Ptn analyst W. Ryan now anticipates that the credit services provider will earn $0.04 per share for the quarter, down from their prior forecast of $0.07. The consensus estimate for LendingClub’s current full-year earnings is $0.23 per share. Seaport Res Ptn also issued estimates for LendingClub’s Q3 2024 earnings at $0.05 EPS and Q4 2024 earnings at $0.06 EPS.

Other equities analysts also recently issued reports about the company. Wedbush restated an “outperform” rating and issued a $11.00 price objective on shares of LendingClub in a report on Wednesday. Piper Sandler restated an “overweight” rating and issued a $10.00 price target (up previously from $9.50) on shares of LendingClub in a report on Wednesday. StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Finally, Keefe, Bruyette & Woods raised their target price on shares of LendingClub from $9.50 to $10.00 and gave the company a “market perform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.42.

LendingClub Trading Down 0.5 %

Shares of LC opened at $9.28 on Thursday. The stock’s fifty day simple moving average is $8.23 and its 200 day simple moving average is $7.64. LendingClub has a twelve month low of $4.73 and a twelve month high of $10.92. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.03 billion, a P/E ratio of 27.29 and a beta of 2.00.

LendingClub (NYSE:LC) last posted its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. LendingClub had a net margin of 4.69% and a return on equity of 3.07%. The company had revenue of $180.69 million for the quarter, compared to the consensus estimate of $174.52 million. During the same quarter last year, the firm posted $0.13 earnings per share.

Institutional Investors Weigh In On LendingClub

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of LendingClub during the third quarter valued at about $157,000. Asset Management One Co. Ltd. increased its holdings in LendingClub by 40.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 8,217 shares of the credit services provider’s stock worth $50,000 after purchasing an additional 2,377 shares during the last quarter. Brighton Jones LLC increased its holdings in LendingClub by 28.4% during the 3rd quarter. Brighton Jones LLC now owns 444,801 shares of the credit services provider’s stock worth $2,713,000 after purchasing an additional 98,425 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of LendingClub by 39.4% in the 3rd quarter. Principal Financial Group Inc. now owns 15,761 shares of the credit services provider’s stock valued at $96,000 after purchasing an additional 4,455 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of LendingClub by 272.6% during the 3rd quarter. Victory Capital Management Inc. now owns 41,307 shares of the credit services provider’s stock valued at $252,000 after buying an additional 30,221 shares during the last quarter. 74.08% of the stock is owned by institutional investors and hedge funds.

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.