Seaport Res Ptn Raises Earnings Estimates for LendingClub

Key Points

• Seaport Res Ptn has increased its FY2025 earnings per share (EPS) estimate for LendingClub to $1.01, up from a previous estimate of $0.70, exceeding the consensus estimate of $0.72.
• LendingClub's stock has been assigned a "Moderate Buy" rating by analysts, with an average target price of $16.57.
• The company's recent earnings report highlighted a significant increase in revenue, reporting $248.44 million for the quarter, surpassing analysts' expectations.

LendingClub Corporation (NYSE:LC - Free Report) - Equities research analysts at Seaport Res Ptn upped their FY2025 EPS estimates for shares of LendingClub in a note issued to investors on Wednesday, July 30th. Seaport Res Ptn analyst W. Ryan now forecasts that the credit services provider will earn $1.01 per share for the year, up from their previous estimate of $0.70. The consensus estimate for LendingClub's current full-year earnings is $0.72 per share.

A number of other research firms also recently commented on LC. Piper Sandler set a $15.50 price objective on LendingClub and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Citigroup initiated coverage on LendingClub in a research note on Monday, July 7th. They issued a "market perform" rating on the stock. Wall Street Zen upgraded LendingClub from a "sell" rating to a "hold" rating in a research note on Saturday. Citizens Jmp assumed coverage on LendingClub in a research report on Monday, July 7th. They set a "market perform" rating for the company. Finally, Keefe, Bruyette & Woods increased their price target on LendingClub from $14.00 to $16.50 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, LendingClub currently has an average rating of "Moderate Buy" and an average price target of $16.57.

LendingClub Trading Down 1.4%

LC stock traded down $0.23 during trading on Friday, hitting $15.83. 915,855 shares of the company's stock were exchanged, compared to its average volume of 1,724,560. LendingClub has a 52-week low of $7.90 and a 52-week high of $18.75. The business has a 50-day moving average price of $12.06 and a two-hundred day moving average price of $11.76. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 24.75 and a beta of 2.46.

LendingClub (NYSE:LC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit services provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.18. LendingClub had a net margin of 8.36% and a return on equity of 5.66%. The company had revenue of $248.44 million for the quarter, compared to the consensus estimate of $227.04 million. During the same quarter in the prior year, the company earned $0.13 EPS. LendingClub's quarterly revenue was up 14.1% on a year-over-year basis.

Insider Buying and Selling

In other LendingClub news, CFO Andrew Labenne sold 17,955 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $16.65, for a total value of $298,950.75. Following the sale, the chief financial officer owned 178,111 shares in the company, valued at $2,965,548.15. The trade was a 9.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the chief executive officer 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 disclosure for this sale can be found here. Insiders have sold a total of 44,205 shares of company stock valued at $601,561 in the last ninety days. 3.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LendingClub

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd increased its position in shares of LendingClub by 167.3% during the second quarter. Y Intercept Hong Kong Ltd now owns 129,990 shares of the credit services provider's stock valued at $1,564,000 after acquiring an additional 81,365 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in LendingClub by 18.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 46,771 shares of the credit services provider's stock worth $563,000 after buying an additional 7,431 shares during the last quarter. MQS Management LLC purchased a new position in shares of LendingClub in the 2nd quarter valued at about $121,000. AlphaQuest LLC grew its stake in LendingClub by 48.9% in the 2nd quarter. AlphaQuest LLC now owns 60,831 shares of the credit services provider's stock valued at $732,000 after acquiring an additional 19,967 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in LendingClub by 7.4% in the 2nd quarter. Asset Management One Co. Ltd. now owns 10,232 shares of the credit services provider's stock valued at $123,000 after acquiring an additional 706 shares during the last quarter. Hedge funds and other 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.