LendingClub (NYSE:LC – Get Free Report) released its earnings results on Wednesday. The credit services provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.07 by $0.06, Briefing.com reports. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. The firm had revenue of $201.90 million for the quarter, compared to analyst estimates of $190.40 million. During the same period last year, the firm earned $0.05 EPS. The business’s quarterly revenue was up .5% compared to the same quarter last year.
LendingClub Stock Up 10.8 %
Shares of LC stock traded up $1.35 during trading hours on Thursday, hitting $13.81. 8,588,719 shares of the company’s stock traded hands, compared to its average volume of 1,442,114. LendingClub has a 12 month low of $4.73 and a 12 month high of $15.52. The stock has a market cap of $1.53 billion, a PE ratio of 40.62 and a beta of 2.04. The stock’s 50 day simple moving average is $11.64 and its 200 day simple moving average is $9.98.
Insider Activity at LendingClub
In other news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $11.36, for a total value of $193,120.00. Following the completion of the sale, the chief executive officer now owns 1,373,273 shares of the company’s stock, valued at approximately $15,600,381.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 51,703 shares of company stock worth $562,705 over the last three months. Company insiders own 3.31% of the company’s stock.
Analyst Upgrades and Downgrades
View Our Latest Stock Report on LendingClub
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.
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