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

LendingClub (NYSE:LC) posted its quarterly earnings data on Wednesday. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.06, Briefing.com reports. The company had revenue of $201.90 million for the quarter, compared to the consensus estimate 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 in the previous year, the business earned $0.05 EPS.

LendingClub Stock Performance

Shares of LC traded up $0.54 during trading hours on Friday, hitting $14.36. 550,417 shares of the company were exchanged, compared to its average volume of 1,437,842. The company has a market cap of $1.60 billion, a PE ratio of 41.41 and a beta of 2.04. The firm’s 50 day moving average is $11.64 and its 200-day moving average is $9.98. LendingClub has a 52 week low of $4.73 and a 52 week high of $15.52.

Insider Activity at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction dated 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 51,703 shares of company stock valued at $562,705. Corporate insiders own 3.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LC. Compass Point lifted their price target on shares of LendingClub from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods upgraded LendingClub from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $11.50 to $15.00 in a research report on Thursday, October 10th. Wedbush raised their price target on LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a report on Thursday. StockNews.com raised LendingClub from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Maxim Group lifted their target price on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.88.

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.