FY2024 Earnings Estimate for LendingClub Co. (NYSE:LC) Issued By Seaport Res Ptn

LendingClub Co. (NYSE:LC) – Equities research analysts at Seaport Res Ptn decreased their FY2024 earnings per share (EPS) estimates for LendingClub in a research report issued to clients and investors on Wednesday, May 1st. Seaport Res Ptn analyst W. Ryan now forecasts that the credit services provider will earn $0.26 per share for the year, down from their prior forecast of $0.28. The consensus estimate for LendingClub’s current full-year earnings is $0.23 per share.

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

LC has been the topic of a number of other reports. Piper Sandler restated an “overweight” rating and set a $10.00 price target (up from $9.50) on shares of LendingClub in a research note on Wednesday. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. Wedbush reaffirmed an “outperform” rating and issued a $11.00 target price on shares of LendingClub in a research report on Wednesday. Finally, Keefe, Bruyette & Woods increased 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $11.42.

LendingClub Stock Down 0.5 %

Shares of LC opened at $9.28 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.03 billion, a P/E ratio of 27.29 and a beta of 2.00. The company’s 50-day moving average price is $8.23 and its 200 day moving average price is $7.64. LendingClub has a 12-month low of $4.73 and a 12-month high of $10.92.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Asset Management One Co. Ltd. grew its stake in LendingClub by 40.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 8,217 shares of the credit services provider’s stock worth $50,000 after buying an additional 2,377 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings 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 valued at $61,000 after acquiring an additional 5,489 shares during the period. Pathstone Family Office LLC acquired a new position in shares of LendingClub in the 3rd quarter valued at $65,000. Maltin Wealth Management Inc. purchased a new stake in LendingClub in the 4th quarter valued at $87,000. Finally, Acadian Asset Management LLC acquired a new stake in LendingClub during the 3rd quarter worth $91,000. 74.08% of the stock is owned by hedge funds and other institutional investors.

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.