3 Revelations From LendingClub's Earnings Report [The Motley Fool]
LendingClub Corporation (LC)
Last lendingclub corporation earnings: 2/18 04:06 pm
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US:NYSE Investor Relations:
ir.lendingclub.com
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Source: The Motley Fool
Management is still working its way back from a two-year-old scandal while navigating a challenging credit environment. An analyst with BTIG called LendingClub 's ( NYSE:LC ) recently reported fourth quarter a mixed bag, and I would agree. The leading personal-loan platform is going through a turnaround stemming from a scandal it endured back in early 2016, which is having lingering effects on the business. The company spent 2017 retrenching, refreshing its management ranks , and tightening underwriting in order to uphold loan quality. It only returned to underwriting growth in the second half of the year. However, conservatism is good for LendingClub's long-term health -- sort of like eating your vegetables. And much like a plate of steamed broccoli, low growth is not terribly appealing in the current bull market. The retrenching also comes at a time of increased legal costs relating to the 2016 scandal, which does not make for a great combination. In addition,
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LC
News
- LendingClub Co. (NYSE: LC) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
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- LendingClub Co. (NYSE: LC) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
LC
Earnings
- 1/30/24 - Beat
LC
Sec Filings
- 3/25/24 - Form 4
- 3/25/24 - Form 4
- 3/25/24 - Form 4
- LC's page on the SEC website