LendingClub Co. (NYSE:LC – Get Rating) – Equities researchers at Wedbush increased their FY2022 EPS estimates for LendingClub in a report issued on Thursday, January 12th. Wedbush analyst D. Chiaverini now forecasts that the credit services provider will earn $1.45 per share for the year, up from their prior estimate of $1.38. The consensus estimate for LendingClub’s current full-year earnings is $1.37 per share. Wedbush also issued estimates for LendingClub’s Q4 2022 earnings at $0.26 EPS, Q1 2023 earnings at $0.15 EPS, Q2 2023 earnings at $0.17 EPS, Q3 2023 earnings at $0.20 EPS, Q4 2023 earnings at $0.18 EPS, FY2023 earnings at $0.70 EPS, FY2025 earnings at $1.75 EPS and FY2026 earnings at $2.05 EPS.
LC has been the topic of a number of other research reports. Maxim Group dropped their target price on LendingClub from $40.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, October 31st. StockNews.com started coverage on LendingClub in a report on Wednesday, October 12th. They issued a “hold” rating on the stock.
LendingClub Price Performance
LC stock opened at $9.46 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.07 and a debt-to-equity ratio of 0.08. LendingClub has a one year low of $8.23 and a one year high of $25.47. The firm has a market capitalization of $994.14 million, a PE ratio of 3.38 and a beta of 1.92. The firm has a 50-day moving average of $9.55 and a two-hundred day moving average of $11.69.
LendingClub (NYSE:LC – Get Rating) last posted its quarterly earnings data on Wednesday, October 26th. The credit services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. LendingClub had a net margin of 24.88% and a return on equity of 21.55%. The company had revenue of $304.91 million during the quarter, compared to analyst estimates of $294.95 million.
Institutional Investors Weigh In On LendingClub
A number of large investors have recently added to or reduced their stakes in LC. Envestnet Asset Management Inc. bought a new stake in LendingClub during the first quarter worth approximately $241,000. Advisor Group Holdings Inc. boosted its position in LendingClub by 27.2% during the first quarter. Advisor Group Holdings Inc. now owns 20,242 shares of the credit services provider’s stock worth $320,000 after purchasing an additional 4,334 shares during the period. JPMorgan Chase & Co. boosted its position in LendingClub by 84.1% during the first quarter. JPMorgan Chase & Co. now owns 549,930 shares of the credit services provider’s stock worth $8,677,000 after purchasing an additional 251,160 shares during the period. Raymond James & Associates bought a new stake in LendingClub during the first quarter worth approximately $438,000. Finally, PNC Financial Services Group Inc. boosted its position in LendingClub by 367.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,607 shares of the credit services provider’s stock worth $41,000 after purchasing an additional 2,049 shares during the period. Institutional investors own 81.11% of the company’s stock.
Insider Activity
In other news, Director Allan R. Landon acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The shares were purchased at an average price of $9.50 per share, for a total transaction of $47,500.00. Following the completion of the acquisition, the director now owns 48,340 shares of the company’s stock, valued at approximately $459,230. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Allan R. Landon acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The shares were purchased at an average price of $9.50 per share, for a total transaction of $47,500.00. Following the completion of the acquisition, the director now owns 48,340 shares of the company’s stock, valued at approximately $459,230. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ronnie Momen sold 28,607 shares of the stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $10.08, for a total value of $288,358.56. Following the completion of the transaction, the insider now owns 180,173 shares in the company, valued at approximately $1,816,143.84. The disclosure for this sale can be found here. Insiders have acquired 22,300 shares of company stock worth $214,646 in the last 90 days. Company insiders own 3.22% of the company’s stock.
LendingClub Company Profile
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LendingClub Corporation, operates as a bank holding company for LendingClub Bank, National Association that provides range of financial products and services through a technology-driven platform in the United States. The company provides commercial and industrial, commercial real estate, small business, and equipment loans, as well as leases equipment; and unsecured personal and auto, patient finance, and education finance loans.
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