Why LendingClub Stock Popped Today [Yahoo! Finance]
LendingClub Corporation (LC)
Last lendingclub corporation earnings: 2/18 04:06 pm
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ir.lendingclub.com
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Source: Yahoo! Finance
As of 11:48 a.m. ET Wednesday, the stock was up 12.7%. LendingClub shines in Q1 In a difficult environment for lenders, LendingClub delivered a solid round of results as its balance sheet grew from $8.8 billion in the prior quarter to $9.2 billion. Book value per share also rose from $11.34 to $11.40, showing that the stock still trades at a substantial discount to its share price. Provision for credit losses also fell from $41.9 million to $31.9 million, showing its loan book is getting less risky. Loan originations were flat from the previous quarter at $1.6 billion. As for financial results, LendingClub's revenue fell 26.5% from the quarter a year ago to $180.7 million, but the company substantially cut its credit loss provision from a year ago, finishing the quarter with earnings per share of $0.11, down from $0.13 in the prior-year quarter, but better than $0.09 per share in the the fourth quarter of 2023. That result was much better than the analyst consensus of $0.03
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LC
Earnings
- 4/30/24 - Beat
LC
Sec Filings
- 5/10/24 - Form 4
- 5/2/24 - Form DEFA14A
- 5/1/24 - Form 10-Q
- LC's page on the SEC website