LendingClub (NYSE:LC) Releases Earnings Results, Beats Expectations By $0.09 EPS

LendingClub (NYSE:LC) issued its quarterly earnings results on Tuesday. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09, Briefing.com reports. The business had revenue of $187.20 million during the quarter, compared to analyst estimates of $177.03 million. LendingClub had a net margin of 5.61% and a return on equity of 3.41%. The business’s revenue was down 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 earnings per share.

LendingClub Trading Down 6.0 %

Shares of NYSE:LC traded down $0.69 on Friday, reaching $10.73. The company had a trading volume of 1,013,798 shares, compared to its average volume of 1,444,628. LendingClub has a 52-week low of $4.73 and a 52-week high of $12.87. The firm’s 50 day simple moving average is $9.16 and its 200-day simple moving average is $8.71. The firm has a market capitalization of $1.19 billion, a PE ratio of 33.59 and a beta of 2.06.

Insider Activity

In other LendingClub news, Director Erin Selleck sold 4,083 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $8.88, for a total value of $36,257.04. Following the transaction, the director now directly owns 54,571 shares of the company’s stock, valued at approximately $484,590.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on LC. Piper Sandler reiterated an “overweight” rating and issued a $13.00 target price (up from $10.00) on shares of LendingClub in a research note on Wednesday. Wedbush boosted their price target on shares of LendingClub from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Wednesday. StockNews.com upgraded LendingClub from a “sell” rating to a “hold” rating in a research note on Thursday. BTIG Research started coverage on LendingClub in a report on Friday, June 7th. They set a “buy” rating and a $12.00 target price on the stock. Finally, Keefe, Bruyette & Woods increased their target price on LendingClub from $10.00 to $11.50 and gave the company a “market perform” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, LendingClub presently has an average rating of “Moderate Buy” and a consensus target price of $12.64.

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.