LendingClub (NYSE:LC) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

by · The Cerbat Gem

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

LendingClub Price Performance

Shares of LendingClub stock traded down $0.23 during trading on Friday, hitting $13.59. The stock had a trading volume of 2,407,502 shares, compared to its average volume of 1,446,909. LendingClub has a 12 month low of $4.73 and a 12 month high of $15.52. The firm’s fifty day simple moving average is $11.69 and its 200-day simple moving average is $10.02. The stock has a market cap of $1.52 billion, a PE ratio of 35.76 and a beta of 2.04.

Insider Activity at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $11.36, for a total transaction of $193,120.00. Following the transaction, the chief executive officer now owns 1,373,273 shares of the company’s stock, valued at approximately $15,600,381.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 51,703 shares of company stock worth $562,705 in the last 90 days. 3.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Jefferies Financial Group increased their price objective on shares of LendingClub from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. increased their price objective on shares of LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. StockNews.com upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Compass Point increased 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. Finally, Keefe, Bruyette & Woods upgraded shares of LendingClub from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $11.50 to $15.00 in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.38.

View Our Latest Stock Report on LC

LendingClub Company Profile

(Get Free Report)

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.

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