LendingClub (NYSE:LC) Issues Quarterly Earnings Results

LendingClub (NYSE:LC) released its quarterly earnings results on Tuesday. The credit services provider reported $0.11 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 Price Performance

Shares of LC traded up $0.13 during midday trading on Tuesday, hitting $16.77. The stock had a trading volume of 3,240,798 shares, compared to its average volume of 1,588,574. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 36.45 and a beta of 2.03. LendingClub has a twelve month low of $7.48 and a twelve month high of $18.75. The company has a 50 day simple moving average of $16.34 and a two-hundred day simple moving average of $13.48.

Insiders Place Their Bets

In related news, General Counsel Jordan Cheng sold 22,000 shares of the company’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 transaction, the general counsel now directly owns 89,385 shares in the company, valued at $1,325,579.55. This represents a 19.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total transaction of $274,040.00. Following the completion of the sale, the chief executive officer now owns 1,312,184 shares in the company, valued at $21,152,406.08. This represents a 1.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,000 shares of company stock valued at $1,122,710 in the last quarter. 3.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Compass Point boosted their target price on shares of LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $17.00 target price (up from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Wedbush lifted their target price on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Piper Sandler increased their price objective on LendingClub from $15.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $16.63.

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.