Seaport Res Ptn Raises Earnings Estimates for LendingClub

LendingClub Corporation (NYSE:LC) – Research analysts at Seaport Res Ptn boosted their FY2025 earnings per share (EPS) estimates for shares of LendingClub in a research note issued to investors on Wednesday, July 30th. Seaport Res Ptn analyst W. Ryan now expects that the credit services provider will post earnings of $1.01 per share for the year, up from their prior forecast of $0.70. The consensus estimate for LendingClub’s current full-year earnings is $0.72 per share.

Several other brokerages have also issued reports on LC. Citigroup started coverage on LendingClub in a research report on Monday, July 7th. They set a “market perform” rating for the company. Wall Street Zen upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a report on Saturday. Keefe, Bruyette & Woods lifted their price objective on shares of LendingClub from $14.00 to $16.50 and gave the stock an “outperform” rating in a research report on Wednesday. Citizens Jmp began coverage on shares of LendingClub in a research report on Monday, July 7th. They set a “market perform” rating for the company. Finally, Stephens initiated coverage on shares of LendingClub in a research note on Thursday, June 12th. They set an “overweight” rating and a $15.00 price target for the company. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.57.

LendingClub Price Performance

NYSE LC opened at $15.59 on Friday. The company has a fifty day moving average price of $11.93 and a 200-day moving average price of $11.83. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 24.36 and a beta of 2.45. LendingClub has a 1 year low of $7.90 and a 1 year high of $18.75.

LendingClub (NYSE:LC) last issued its quarterly earnings data on Tuesday, July 29th. The credit services provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.18. LendingClub had a return on equity of 5.72% and a net margin of 8.36%. The firm had revenue of $248.44 million during the quarter, compared to analyst estimates of $227.04 million. During the same period in the previous year, the company posted $0.13 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis.

Insider Buying and Selling

In other LendingClub news, CEO Scott Sanborn sold 5,250 shares of the company’s stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $12.98, for a total transaction of $68,145.00. Following the completion of the sale, the chief executive officer directly owned 1,283,175 shares in the company, valued at $16,655,611.50. This represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Andrew Labenne sold 17,955 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $16.65, for a total value of $298,950.75. Following the transaction, the chief financial officer directly owned 178,111 shares in the company, valued at $2,965,548.15. This trade represents a 9.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,205 shares of company stock valued at $601,561 in the last 90 days. 3.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE raised its position in LendingClub by 111.5% during the 4th quarter. Bank of America Corp DE now owns 402,033 shares of the credit services provider’s stock valued at $6,509,000 after purchasing an additional 211,979 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of LendingClub during the first quarter valued at approximately $161,000. Invesco Ltd. raised its holdings in shares of LendingClub by 87.1% during the fourth quarter. Invesco Ltd. now owns 637,458 shares of the credit services provider’s stock valued at $10,320,000 after acquiring an additional 296,813 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of LendingClub by 62.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 289,251 shares of the credit services provider’s stock valued at $4,683,000 after acquiring an additional 111,031 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in LendingClub by 95.4% in the first quarter. Asset Management One Co. Ltd. now owns 9,526 shares of the credit services provider’s stock worth $98,000 after acquiring an additional 4,651 shares during the period. Institutional investors own 74.08% of the company’s stock.

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.