LendingClub Corp. (NYSE:LC) – Research analysts at FBR & Co cut their FY2016 EPS estimates for LendingClub Corp. in a note issued to investors on Tuesday. FBR & Co analyst B. Ramsey now forecasts that the brokerage will post earnings of ($0.29) per share for the year, down from their prior forecast of ($0.28). FBR & Co currently has a “Hold” rating and a $6.50 target price on the stock. FBR & Co also issued estimates for LendingClub Corp.’s Q4 2016 earnings at ($0.09) EPS, Q1 2017 earnings at ($0.07) EPS, Q2 2017 earnings at ($0.04) EPS, Q3 2017 earnings at ($0.03) EPS, Q4 2017 earnings at ($0.03) EPS and FY2017 earnings at ($0.18) EPS.

A number of other research analysts have also commented on the company. Canaccord Genuity reaffirmed a “hold” rating and set a $7.00 price target on shares of LendingClub Corp. in a research report on Tuesday, November 8th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of LendingClub Corp. in a research report on Tuesday, November 8th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $5.00 target price on shares of LendingClub Corp. in a research report on Tuesday, November 8th. BTIG Research reissued a “buy” rating and issued a $9.00 target price on shares of LendingClub Corp. in a research report on Tuesday, November 8th. Finally, Wedbush reissued an “underperform” rating and issued a $3.75 target price on shares of LendingClub Corp. in a research report on Monday, November 7th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.79.

Earnings History and Estimates for LendingClub Corp. (NYSE:LC)

Shares of LendingClub Corp. (NYSE:LC) opened at 6.14 on Friday. The company’s 50-day moving average price is $5.52 and its 200-day moving average price is $5.18. The company’s market capitalization is $2.40 billion. LendingClub Corp. has a one year low of $3.44 and a one year high of $14.40.

LendingClub Corp. (NYSE:LC) last issued its quarterly earnings results on Monday, November 7th. The company reported ($0.04) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.03. The business had revenue of $112.60 million for the quarter, compared to analyst estimates of $103.31 million. LendingClub Corp. had a negative return on equity of 6.68% and a negative net margin of 21.75%. LendingClub Corp.’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the company posted $0.04 earnings per share.

In other LendingClub Corp. news, insider Sandeep Bhandari sold 9,771 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $5.55, for a total transaction of $54,229.05. Following the sale, the insider now directly owns 219,600 shares in the company, valued at approximately $1,218,780. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Sameer Gulati sold 5,854 shares of the stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $4.95, for a total value of $28,977.30. Following the sale, the chief operating officer now owns 952,838 shares in the company, valued at $4,716,548.10. The disclosure for this sale can be found here. Company insiders own 11.40% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in shares of LendingClub Corp. by 97.1% in the first quarter. Wellington Management Group LLP now owns 7,549,341 shares of the company’s stock valued at $62,659,000 after buying an additional 3,719,295 shares in the last quarter. Evercore Wealth Management LLC increased its stake in shares of LendingClub Corp. by 64.0% in the second quarter. Evercore Wealth Management LLC now owns 2,740,353 shares of the company’s stock valued at $11,783,000 after buying an additional 1,069,870 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of LendingClub Corp. by 1,384.5% in the second quarter. BNP Paribas Arbitrage SA now owns 144,557 shares of the company’s stock valued at $622,000 after buying an additional 134,819 shares in the last quarter. Bayesian Capital Management LP increased its stake in shares of LendingClub Corp. by 41.3% in the first quarter. Bayesian Capital Management LP now owns 22,907 shares of the company’s stock valued at $190,000 after buying an additional 6,700 shares in the last quarter. Finally, AMP Capital Investors Ltd increased its stake in shares of LendingClub Corp. by 16.1% in the first quarter. AMP Capital Investors Ltd now owns 316,577 shares of the company’s stock valued at $2,567,000 after buying an additional 43,937 shares in the last quarter. Institutional investors and hedge funds own 80.90% of the company’s stock.

About LendingClub Corp.

LendingClub Corporation (Lending Club) provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that is only available on a limited basis to large institutional investors.

5 Day Chart for NYSE:LC

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