LendingClub (NYSE:LC) Earns Outperform Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of LendingClub (NYSE:LC) in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a $11.00 target price on the credit services provider’s stock. Wedbush also issued estimates for LendingClub’s Q2 2024 earnings at $0.07 EPS, Q3 2024 earnings at $0.11 EPS, Q4 2024 earnings at $0.10 EPS, FY2024 earnings at $0.40 EPS, Q1 2025 earnings at $0.23 EPS, Q2 2025 earnings at $0.22 EPS, Q3 2025 earnings at $0.25 EPS, Q4 2025 earnings at $0.21 EPS, FY2025 earnings at $0.90 EPS and FY2026 earnings at $1.10 EPS.

Separately, StockNews.com lowered LendingClub from a hold rating to a sell rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $11.42.

LendingClub Stock Down 0.5 %

Shares of LendingClub stock opened at $9.28 on Wednesday. The stock has a market capitalization of $1.03 billion, a P/E ratio of 27.29 and a beta of 2.00. The stock has a 50 day moving average price of $8.23 and a two-hundred day moving average price of $7.64. LendingClub has a 12-month low of $4.73 and a 12-month high of $10.92.

LendingClub (NYSE:LC) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.08. LendingClub had a return on equity of 3.04% and a net margin of 4.69%. The company had revenue of $180.69 million during the quarter, compared to analysts’ expectations of $174.52 million. During the same period in the prior year, the business earned $0.13 earnings per share. Sell-side analysts anticipate that LendingClub will post 0.26 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. boosted its position in shares of LendingClub by 526.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,884,751 shares of the credit services provider’s stock worth $11,497,000 after purchasing an additional 1,583,882 shares during the last quarter. Wellington Management Group LLP lifted its stake in LendingClub by 176.1% in the fourth quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock valued at $11,749,000 after buying an additional 857,371 shares during the period. rhino investment partners Inc bought a new position in LendingClub during the fourth quarter worth about $6,838,000. Verition Fund Management LLC acquired a new position in shares of LendingClub during the 4th quarter worth about $6,115,000. Finally, Jackson Square Partners LLC increased its stake in shares of LendingClub by 5.9% in the 4th quarter. Jackson Square Partners LLC now owns 9,723,943 shares of the credit services provider’s stock valued at $84,987,000 after acquiring an additional 541,538 shares during the last quarter. 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.