Q2 2024 EPS Estimates for LendingClub Co. (NYSE:LC) Lowered by Analyst

LendingClub Co. (NYSE:LC) – Research analysts at Seaport Res Ptn reduced their Q2 2024 earnings per share estimates for shares of LendingClub in a report released on Wednesday, May 1st. Seaport Res Ptn analyst W. Ryan now expects that the credit services provider will earn $0.04 per share for the quarter, down from their previous forecast of $0.07. The consensus estimate for LendingClub’s current full-year earnings is $0.23 per share. Seaport Res Ptn also issued estimates for LendingClub’s Q3 2024 earnings at $0.05 EPS and Q4 2024 earnings at $0.06 EPS.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.08. The firm had revenue of $180.69 million for the quarter, compared to analyst estimates of $174.52 million. LendingClub had a return on equity of 3.07% and a net margin of 4.69%. During the same period in the previous year, the firm earned $0.13 earnings per share.

Several other equities research analysts also recently weighed in on LC. Wedbush reaffirmed an “outperform” rating and issued a $11.00 price target on shares of LendingClub in a research note on Wednesday. StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $10.00 price target (up from $9.50) on shares of LendingClub in a research note on Wednesday. Finally, Keefe, Bruyette & Woods raised their price objective on LendingClub from $9.50 to $10.00 and gave the company a “market perform” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, LendingClub presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.42.

LendingClub Stock Performance

NYSE:LC opened at $9.28 on Thursday. The firm has a market capitalization of $1.03 billion, a P/E ratio of 27.29 and a beta of 2.00. LendingClub has a twelve month low of $4.73 and a twelve month high of $10.92. The company has a fifty day moving average of $8.23 and a 200-day moving average of $7.64. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.01.

Institutional Trading of LendingClub

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Miracle Mile Advisors LLC raised its holdings in shares of LendingClub by 9.0% in the fourth quarter. Miracle Mile Advisors LLC now owns 24,134 shares of the credit services provider’s stock valued at $211,000 after purchasing an additional 2,000 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in LendingClub by 40.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 8,217 shares of the credit services provider’s stock valued at $50,000 after buying an additional 2,377 shares during the last quarter. Swiss National Bank lifted its position in shares of LendingClub by 1.8% during the 3rd quarter. Swiss National Bank now owns 236,260 shares of the credit services provider’s stock worth $1,441,000 after buying an additional 4,200 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of LendingClub by 39.4% during the 3rd quarter. Principal Financial Group Inc. now owns 15,761 shares of the credit services provider’s stock worth $96,000 after buying an additional 4,455 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of LendingClub by 363.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,999 shares of the credit services provider’s stock worth $61,000 after buying an additional 5,489 shares during the last quarter. 74.08% of the stock is owned by institutional investors.

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.