LendingClub Co. (NYSE:LC) Forecasted to Post Q1 2023 Earnings of $0.12 Per Share

LendingClub Co. (NYSE:LCGet Rating) – Analysts at Seaport Res Ptn issued their Q1 2023 EPS estimates for shares of LendingClub in a research note issued to investors on Friday, January 27th. Seaport Res Ptn analyst W. Ryan expects that the credit services provider will earn $0.12 per share for the quarter. The consensus estimate for LendingClub’s current full-year earnings is $0.93 per share. Seaport Res Ptn also issued estimates for LendingClub’s Q2 2023 earnings at $0.17 EPS.

LendingClub (NYSE:LCGet Rating) last issued its quarterly earnings data on Wednesday, January 25th. The credit services provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). The business had revenue of $262.70 million during the quarter, compared to the consensus estimate of $258.37 million. LendingClub had a return on equity of 14.20% and a net margin of 24.40%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 EPS.

Several other research firms also recently commented on LC. Maxim Group decreased their price objective on LendingClub from $40.00 to $20.00 and set a “buy” rating for the company in a report on Monday, October 31st. Wedbush lowered their target price on shares of LendingClub from $20.00 to $15.00 in a report on Thursday, October 27th. Janney Montgomery Scott downgraded LendingClub from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a research note on Thursday. Finally, StockNews.com initiated coverage on LendingClub in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.

LendingClub Trading Up 6.9 %

Shares of LC stock opened at $9.80 on Monday. The stock has a 50 day simple moving average of $9.45 and a two-hundred day simple moving average of $11.49. The company has a market cap of $1.03 billion, a P/E ratio of 3.56 and a beta of 1.92. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.07 and a current ratio of 1.11. LendingClub has a fifty-two week low of $8.23 and a fifty-two week high of $19.97.

Insider Transactions at LendingClub

In related news, CFO Andrew Labenne purchased 12,300 shares of the firm’s stock in a transaction on Friday, November 4th. The shares were acquired at an average cost of $9.52 per share, with a total value of $117,096.00. Following the purchase, the chief financial officer now directly owns 15,000 shares of the company’s stock, valued at $142,800. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other LendingClub news, CFO Andrew Labenne bought 12,300 shares of the business’s stock in a transaction on Friday, November 4th. The shares were acquired at an average cost of $9.52 per share, for a total transaction of $117,096.00. Following the purchase, the chief financial officer now owns 15,000 shares in the company, valued at approximately $142,800. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Allan R. Landon acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, November 2nd. The shares were acquired at an average cost of $10.01 per share, with a total value of $50,050.00. Following the transaction, the director now owns 28,340 shares in the company, valued at $283,683.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 22,300 shares of company stock valued at $214,646. 3.22% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LendingClub

A number of hedge funds and other institutional investors have recently made changes to their positions in LC. Nordea Investment Management AB boosted its position in LendingClub by 7.8% in the second quarter. Nordea Investment Management AB now owns 315,245 shares of the credit services provider’s stock valued at $3,603,000 after buying an additional 22,696 shares during the last quarter. CX Institutional acquired a new position in LendingClub during the third quarter worth $738,000. Empowered Funds LLC purchased a new stake in shares of LendingClub in the 2nd quarter valued at approximately $431,000. Bank of America Corp DE grew its holdings in shares of LendingClub by 154.0% during the 1st quarter. Bank of America Corp DE now owns 1,990,352 shares of the credit services provider’s stock worth $31,408,000 after purchasing an additional 1,206,662 shares during the period. Finally, Baader Bank Aktiengesellschaft lifted its stake in LendingClub by 54.4% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 397,477 shares of the credit services provider’s stock worth $4,647,000 after acquiring an additional 140,000 shares in the last quarter. Institutional investors own 81.11% of the company’s stock.

About LendingClub

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LendingClub Corp. operates as an online marketplace that facilitates loans to borrowers and investments. Its products include unsecured personal, secured auto refinance, patient, and education finance loans. The company was founded by Renaud Laplanche and Soulaiman Htite in 2006 and is headquartered in San Francisco, CA.

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Earnings History and Estimates for LendingClub (NYSE:LC)

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