Wedbush Analysts Lift Earnings Estimates for LendingClub Co. (NYSE:LC)

LendingClub Co. (NYSE:LC) – Investment analysts at Wedbush boosted their Q2 2024 earnings estimates for shares of LendingClub in a research report issued to clients and investors on Wednesday, May 1st. Wedbush analyst D. Chiaverini now forecasts that the credit services provider will post earnings of $0.07 per share for the quarter, up from their previous forecast of $0.04. Wedbush has a “Outperform” rating and a $11.00 price objective on the stock. The consensus estimate for LendingClub’s current full-year earnings is $0.23 per share. Wedbush also issued estimates for LendingClub’s 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.

Several other brokerages also recently issued reports on LC. StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. Piper Sandler reiterated an “overweight” rating and set a $10.00 price target (up previously from $9.50) on shares of LendingClub in a research report on Wednesday. Finally, Keefe, Bruyette & Woods upped their price target on shares of LendingClub from $9.50 to $10.00 and gave the stock a “market perform” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, LendingClub presently has an average rating of “Moderate Buy” and an average price target of $11.42.

LendingClub Stock Down 0.5 %

Shares of NYSE:LC opened at $9.28 on Friday. LendingClub has a 52 week low of $4.73 and a 52 week high of $10.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.83 and a current ratio of 0.89. The company’s fifty day moving average is $8.23 and its 200-day moving average is $7.64. The company has a market capitalization of $1.03 billion, a PE ratio of 27.29 and a beta of 2.00.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LC. Nordea Investment Management AB increased its stake in shares of LendingClub by 190.8% in the 3rd quarter. Nordea Investment Management AB now owns 609,966 shares of the credit services provider’s stock valued at $3,733,000 after acquiring an additional 400,189 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of LendingClub in the 3rd quarter valued at about $2,970,000. Quantbot Technologies LP bought a new stake in shares of LendingClub in the 3rd quarter valued at about $643,000. Asset Management One Co. Ltd. increased its stake in shares of 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 acquiring an additional 2,377 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of LendingClub by 39.4% in the 3rd quarter. Principal Financial Group Inc. now owns 15,761 shares of the credit services provider’s stock valued at $96,000 after acquiring an additional 4,455 shares during the last quarter. 74.08% of the stock is currently owned by institutional investors and hedge funds.

LendingClub Company Profile

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.