Seaport Res Ptn Equities Analysts Lower Earnings Estimates for LendingClub Co. (NYSE:LC)

LendingClub Co. (NYSE:LC) – Analysts at Seaport Res Ptn dropped their FY2024 earnings per share (EPS) estimates for LendingClub in a report issued on Wednesday, May 1st. Seaport Res Ptn analyst W. Ryan now expects that the credit services provider will post earnings per share of $0.26 for the year, down from their previous forecast of $0.28. The consensus estimate for LendingClub’s current full-year earnings is $0.26 per share.

LendingClub (NYSE:LC) last posted its earnings results on Tuesday, April 30th. The credit services provider reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.08. LendingClub had a net margin of 4.69% and a return on equity of 3.04%. The company had revenue of $180.69 million for the quarter, compared to analysts’ expectations of $174.52 million. During the same quarter in the prior year, the company posted $0.13 earnings per share.

LC has been the topic of a number of other research reports. Keefe, Bruyette & Woods boosted their target price on LendingClub from $9.50 to $10.00 and gave the company a “market perform” rating in a research report on Wednesday. StockNews.com lowered LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Piper Sandler restated an “overweight” rating and issued a $10.00 price target (up previously from $9.50) on shares of LendingClub in a research note on Wednesday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $11.00 price target on shares of LendingClub in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.42.

LendingClub Stock Performance

Shares of LC stock opened at $9.28 on Friday. The firm has a market cap of $1.03 billion, a P/E ratio of 27.29 and a beta of 2.00. The firm’s 50 day moving average price is $8.23 and its 200-day moving average price is $7.66. LendingClub has a one year low of $4.73 and a one year high of $10.92.

Institutional Trading of LendingClub

Institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB lifted its position in shares of LendingClub by 190.8% during the 3rd quarter. Nordea Investment Management AB now owns 609,966 shares of the credit services provider’s stock worth $3,733,000 after buying an additional 400,189 shares during the last quarter. Wellington Management Group LLP acquired a new stake in LendingClub during the 3rd quarter worth $2,970,000. Quantbot Technologies LP purchased a new stake in LendingClub in the third quarter valued at $643,000. Asset Management One Co. Ltd. boosted its stake in LendingClub by 40.7% in the third quarter. Asset Management One Co. Ltd. now owns 8,217 shares of the credit services provider’s stock valued at $50,000 after acquiring an additional 2,377 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of LendingClub by 39.4% during the third quarter. Principal Financial Group Inc. now owns 15,761 shares of the credit services provider’s stock worth $96,000 after purchasing an additional 4,455 shares during the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

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.