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LendingClub Corp (LC.N)

LC.N on New York Stock Exchange

3.57USD
21 Sep 2018
Change (% chg)

$-0.04 (-1.11%)
Prev Close
$3.61
Open
$3.60
Day's High
$3.63
Day's Low
$3.54
Volume
2,626,224
Avg. Vol
1,175,083
52-wk High
$6.56
52-wk Low
$2.58

Latest Key Developments (Source: Significant Developments)

Lendingclub Reports Second Quarter 2018 Results
Tuesday, 7 Aug 2018 

Aug 7 (Reuters) - LendingClub Corp ::LENDINGCLUB REPORTS SECOND QUARTER 2018 RESULTS.Q2 ADJUSTED EARNINGS PER SHARE $0.03.Q2 LOSS PER SHARE $0.14.SEES Q3 2018 REVENUE $175 MILLION TO $185 MILLION.Q2 REVENUE $177 MILLION VERSUS I/B/E/S VIEW $166.8 MILLION.Q2 EARNINGS PER SHARE VIEW $0.02 -- THOMSON REUTERS I/B/E/S.SEES Q3 GAAP CONSOLIDATED NET LOSS IN RANGE OF $15 MILLION TO $10 MILLION.SEES FY 2018 TOTAL NET REVENUE IN RANGE OF $680 MILLION TO $705 MILLION.SEES FY 2018 GAAP CONSOLIDATED NET LOSS IN RANGE OF $124 MILLION TO $109 MILLION.Q3 REVENUE VIEW $182.1 MILLION -- THOMSON REUTERS I/B/E/S.FY2018 REVENUE VIEW $687.5 MILLION -- THOMSON REUTERS I/B/E/S.SEES Q3 ADJUSTED EBITDA IN RANGE OF $18 MILLION TO $23 MILLION.SEES FY 2018 ADJUSTED EBITDA IN RANGE OF $75 MILLION TO $90 MILLION.  Full Article

Lendingclub Responds To Federal Trade Commission Complaint
Wednesday, 25 Apr 2018 

April 25 (Reuters) - LendingClub Corp ::LENDINGCLUB RESPONDS TO FEDERAL TRADE COMMISSION COMPLAINT.LENDINGCLUB CORP - "BELIEVES THAT ALLEGATIONS IN FTC'S COMPLAINT ARE LEGALLY AND FACTUALLY UNWARRANTED".LENDINGCLUB CORP - "INTENDS TO OPPOSE CLAIMS AND WORK TOWARDS AN EARLY RESOLUTION OF MATTER IN FEDERAL COURT".  Full Article

Lendingclub Appoints Patty Mccord To Its Board Of Directors
Tuesday, 19 Dec 2017 

Lendingclub Corp ::LENDINGCLUB APPOINTS PATTY MCCORD TO ITS BOARD OF DIRECTORS.LENDINGCLUB - ‍PATTY MCCORD HAS JOINED BOARD OF DIRECTORS, EFFECTIVE DECEMBER 13, 2017​.  Full Article

Lendingclub Q3 loss per share $0.02
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - Lendingclub Corp LC.N:Lendingclub reports third quarter 2017 results.Q3 adjusted earnings per share $0.03.Q3 loss per share $0.02.Q3 revenue $154 million versus I/B/E/S view $157.5 million.Q3 earnings per share view $0.03 -- Thomson Reuters I/B/E/S.Lendingclub Corp sees ‍Q4 total net revenue in range of $158 million to $163 million​.Lendingclub Corp sees ‍q4 adjusted EBITDA in range of $19 million to $23 million​.Q4 revenue view $173.6 million -- Thomson Reuters I/B/E/S.  Full Article

LendingClub rebrands asset management business
Wednesday, 25 Oct 2017 

Oct 25 (Reuters) - LendingClub Corp : :LendingClub rebrands asset management business, positions for growth.LendingClub Asset Management - ‍LC advisors, an investment advisor registered with SEC, has rebranded its asset management business​.‍LendingClub Asset Management -in weeks leading up to rebrand co facilitated auction of assets from its legacy funds​.  Full Article

LendingClub is shutting down five of its investment funds- WSJ
Wednesday, 25 Oct 2017 

Oct 25 (Reuters) - :LendingClub is shutting down five of its investment funds, including $318 million portfolio that had been marked by accounting issues- WSJ, citing documents‍​.  Full Article

LendingClub unit enters into a warehouse credit agreement ‍​ ‍​
Monday, 16 Oct 2017 

Oct 16 (Reuters) - Lendingclub Corp :LendingClub Corp - on Oct 10, unit of co entered into a warehouse credit agreement ‍​ ‍​.LendingClub Corp - ‍ pursuant to warehouse agreement, lenders agree to provide a $250 million secured revolving credit facility to warehouse - SEC filing​.LendingClub - Proceeds under facility may only be used to purchase certain unsecured consumer loans from co, related rights, expenses related to facility​.  Full Article

Lendingclub announces updated loss forecasts, changes to credit, interest rates
Friday, 14 Oct 2016 

Lendingclub Corp : Announcing updated loss forecasts, changes to credit, interest rates as part of regular and continuous adjustment process . Anticipate loans originated in H2 and going forward to benefit from changes to co's credit policy and co's interest rates . Effective October 14, 2016, interest rates on the Lending Club platform will increase by a weighted average of 26 bps . Rate increases are concentrated in grades F and G with marginal changes in other grades . Lendingclub - About 1 percent of borrowers who previously would have been able to obtain a loan under prior underwriting criteria will no longer be approved . Lendingclub - Interest rates on co's platform increased by weighted average of approximately 135 basis points from Nov. 2015 to June 2016 - sec filing . Lendingclub - Interest rate increases from Nov. 2015 to June 2016 were concentrated in grades D through G - SEC filing Source: (http://bit.ly/2e7Y1pE) Further company coverage: [LC.N] ((bangalore.newsroom@thomsonreuters.com;)).  Full Article

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New York sues U.S. to stop fintech bank charters

NEW YORK New York state's top banking regulator on Friday sued the federal government to void its decision to award national bank charters to online lenders and payment companies, saying it was unconstitutional and put vulnerable consumers at risk.