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

LendingClub (NYSE:LC) released its 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 return on equity of 4.02% and a net margin of 6.85%.

LendingClub Price Performance

NYSE LC traded up $0.13 during mid-day trading on Tuesday, reaching $16.77. 3,345,190 shares of the stock were exchanged, compared to its average volume of 1,588,574. The stock has a market cap of $1.88 billion, a P/E ratio of 36.45 and a beta of 2.03. The stock has a 50 day simple moving average of $16.34 and a 200-day simple moving average of $13.48. LendingClub has a one year low of $7.48 and a one year high of $18.75.

Analyst Ratings Changes

Several equities analysts recently commented on LC shares. Piper Sandler increased their price objective on shares of LendingClub from $15.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Maxim Group upped their target price on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Wedbush boosted their price target on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Compass Point raised their price objective on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.63.

Insider Buying and Selling at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total value of $274,040.00. Following the completion of the sale, the chief executive officer now directly owns 1,312,184 shares of the company’s stock, valued at approximately $21,152,406.08. The trade was a 1.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Jordan Cheng sold 22,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $14.83, for a total transaction of $326,260.00. Following the transaction, the general counsel now directly owns 89,385 shares in the company, valued at $1,325,579.55. This trade represents a 19.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,000 shares of company stock valued at $1,122,710. 3.31% of the stock is currently owned by insiders.

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.