LendingClub Corporation (NYSE:LC) – Equities researchers at Oppenheimer Holdings lifted their FY2017 earnings per share estimates for shares of LendingClub Corporation in a report released on Thursday. Oppenheimer Holdings analyst J. Kelly now forecasts that the credit services provider will post earnings of ($0.15) per share for the year, up from their previous forecast of ($0.16). Oppenheimer Holdings currently has a “Outperform” rating and a $7.00 target price on the stock. Oppenheimer Holdings also issued estimates for LendingClub Corporation’s FY2018 earnings at $0.00 EPS.

LendingClub Corporation (NYSE:LC) last released its quarterly earnings results on Thursday, May 4th. The credit services provider reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.04. The business had revenue of $124.50 million during the quarter, compared to analyst estimates of $121.63 million. LendingClub Corporation had a negative return on equity of 14.31% and a negative net margin of 38.40%. The company’s revenue was down 18.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 EPS.

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LC has been the subject of a number of other reports. Morgan Stanley restated an “overweight” rating and set a $8.00 price target on shares of LendingClub Corporation in a report on Tuesday, April 18th. Vetr cut shares of LendingClub Corporation from a “strong-buy” rating to a “buy” rating and set a $6.00 price target for the company. in a report on Tuesday, April 11th. Zacks Investment Research cut shares of LendingClub Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. BidaskClub cut shares of LendingClub Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Finally, CIBC upgraded shares of LendingClub Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. LendingClub Corporation presently has an average rating of “Hold” and an average target price of $6.51.

Shares of LendingClub Corporation (NYSE:LC) opened at 5.21 on Monday. The company’s market capitalization is $2.10 billion. LendingClub Corporation has a one year low of $4.30 and a one year high of $6.78. The company has a 50-day moving average price of $5.43 and a 200 day moving average price of $5.63.

A number of hedge funds and other institutional investors have recently bought and sold shares of LC. SG Americas Securities LLC increased its position in LendingClub Corporation by 0.4% in the first quarter. SG Americas Securities LLC now owns 43,485 shares of the credit services provider’s stock valued at $239,000 after buying an additional 171 shares during the last quarter. Prudential Financial Inc. increased its position in LendingClub Corporation by 3.6% in the first quarter. Prudential Financial Inc. now owns 21,680 shares of the credit services provider’s stock valued at $119,000 after buying an additional 760 shares during the last quarter. Malaga Cove Capital LLC increased its position in LendingClub Corporation by 3.7% in the first quarter. Malaga Cove Capital LLC now owns 27,800 shares of the credit services provider’s stock valued at $147,000 after buying an additional 1,000 shares during the last quarter. Nisa Investment Advisors LLC increased its position in LendingClub Corporation by 4.3% in the second quarter. Nisa Investment Advisors LLC now owns 36,240 shares of the credit services provider’s stock valued at $200,000 after buying an additional 1,500 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in LendingClub Corporation by 1.8% in the first quarter. PNC Financial Services Group Inc. now owns 140,647 shares of the credit services provider’s stock valued at $771,000 after buying an additional 2,425 shares during the last quarter. 90.92% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Simon Williams sold 80,000 shares of the stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $5.98, for a total value of $478,400.00. Following the completion of the transaction, the director now owns 161,053 shares of the company’s stock, valued at $963,096.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Sameer Gulati sold 8,305 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $5.08, for a total transaction of $42,189.40. Following the completion of the transaction, the chief operating officer now directly owns 265,657 shares of the company’s stock, valued at approximately $1,349,537.56. The disclosure for this sale can be found here. Insiders sold 463,239 shares of company stock valued at $2,677,984 in the last three months. Company insiders own 11.40% of the company’s stock.

LendingClub Corporation Company Profile

LendingClub Corporation 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 has been closed to many investors and only available on a limited basis to large institutional investors.

Earnings History and Estimates for LendingClub Corporation (NYSE:LC)

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