LendingClub (NYSE:LC – Get Free Report) released its quarterly earnings data on Wednesday. The credit services provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06, Briefing.com reports. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. The company had revenue of $201.90 million for the quarter, compared to analysts’ expectations of $190.40 million. During the same quarter last year, the company earned $0.05 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis.
LendingClub Stock Up 3.9 %
Shares of LC traded up $0.54 during trading hours on Friday, reaching $14.36. 550,417 shares of the company traded hands, compared to its average volume of 1,437,842. The stock has a market capitalization of $1.60 billion, a PE ratio of 41.41 and a beta of 2.04. The stock has a fifty day simple moving average of $11.64 and a 200 day simple moving average of $9.98. LendingClub has a fifty-two week low of $4.73 and a fifty-two week high of $15.52.
Insiders Place Their Bets
In related news, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $11.09, for a total transaction of $188,530.00. Following the completion of the transaction, the chief executive officer now owns 1,356,273 shares of the company’s stock, valued at approximately $15,041,067.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 51,703 shares of company stock valued at $562,705. Company insiders own 3.31% of the company’s stock.
Wall Street Analyst Weigh In
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.
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