LendingClub (NYSE:LC) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

LendingClub (NYSE:LC) released its quarterly earnings results on Tuesday. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02, Zacks reports. LendingClub had a net margin of 6.85% and a return on equity of 4.02%.

LendingClub Trading Up 0.8 %

LC stock traded up $0.13 during trading on Tuesday, reaching $16.77. The stock had a trading volume of 3,240,798 shares, compared to its average volume of 1,588,574. The company has a market capitalization of $1.88 billion, a P/E ratio of 36.45 and a beta of 2.03. LendingClub has a 1-year low of $7.48 and a 1-year high of $18.75. The firm has a fifty day moving average price of $16.34 and a 200 day moving average price of $13.48.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LC. StockNews.com lowered LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Wedbush increased their price objective on LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods raised their price objective on shares of LendingClub from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $17.00 price target (up from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. Finally, Compass Point lifted their price target on LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.63.

Insider Activity at LendingClub

In related news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $14.89, for a total value of $253,130.00. Following the sale, the chief executive officer now directly owns 1,339,273 shares in the company, valued at $19,941,774.97. This trade represents a 1.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Jordan Cheng sold 22,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $14.83, for a total transaction of $326,260.00. Following the completion of the sale, the general counsel now owns 89,385 shares in the company, valued at $1,325,579.55. The trade was a 19.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,000 shares of company stock valued at $1,122,710 over the last ninety days. Corporate insiders own 3.31% of the company’s stock.

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.