Edition:
United States

LendingClub Corp (LC.N)

LC.N on New York Stock Exchange

3.45USD
21 May 2018
Change (% chg)

$0.04 (+1.17%)
Prev Close
$3.41
Open
$3.40
Day's High
$3.48
Day's Low
$3.38
Volume
930,582
Avg. Vol
1,868,609
52-wk High
$6.56
52-wk Low
$2.58

Latest Key Developments (Source: Significant Developments)

LendingClub Reports Q1 Adjusted Earnings Per Share $0.01
Tuesday, 8 May 2018 04:06pm EDT 

May 8 (Reuters) - LendingClub Corp ::LENDINGCLUB REPORTS FIRST QUARTER 2018 RESULTS.Q1 ADJUSTED EARNINGS PER SHARE $0.01.Q1 LOSS PER SHARE $0.07.SEES Q2 2018 REVENUE $162 MILLION TO $172 MILLION.Q1 REVENUE $151.7 MILLION VERSUS I/B/E/S VIEW $152.8 MILLION.Q1 EARNINGS PER SHARE VIEW $-0.01 -- THOMSON REUTERS I/B/E/S.SEES FULL YEAR TOTAL NET REVENUE IN RANGE OF $680 MILLION TO $705 MILLION.SEES Q2 NET LOSS $20 MILLION TO $10 MILLION.SEES FULL YEAR NET LOSS IN RANGE OF $70 MILLION TO $55 MILLION.  Full Article

Lendingclub Reports Q4 Loss Per Share $0.22
Tuesday, 20 Feb 2018 04:06pm EST 

Feb 20 (Reuters) - Lendingclub Corp ::LENDINGCLUB REPORTS FOURTH QUARTER AND FULL YEAR 2017 RESULTS.Q4 ADJUSTED EARNINGS PER SHARE $0.01.Q4 LOSS PER SHARE $0.22.Q4 REVENUE ROSE 2 PERCENT TO $156.5 MILLION.REAFFIRMS 2018 GUIDANCE.LENDINGCLUB - REACHED PRELIMINARY SETTLEMENT OF CLASS ACTION LAWSUITS ARISING FROM LEGACY ISSUES DISCLOSED BY CO IN 2016.LENDINGCLUB - PARTIES AGREED TO STIPULATION OF SETTLEMENT THAT INCLUDES $125 MILLION AGREEMENT.LENDINGCLUB - PRELIMINARY SETTLEMENT WILL HAVE NO MATERIAL IMPACT ON CO'S BUSINESS OPERATIONS IN 2018.SEES Q1 2018 TOTAL NET REVENUE IN RANGE OF $145 MILLION TO $155 MILLION.LENDINGCLUB - $47.75 MILLION OF SETTLEMENT WILL BE COVERED BY CO'S INSURANCE, REMAINING $77.25 MILLION IS REFLECTED IN Q4 NET LOSS.SEES Q1 NET LOSS IN RANGE OF $25 MILLION TO $20 MILLION.  Full Article

Lendingclub Appoints Patty Mccord To Its Board Of Directors
Tuesday, 19 Dec 2017 04:10pm EST 

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 04:01pm EST 

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 04:30pm EDT 

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 03:06pm EDT 

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 04:31pm EDT 

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 Corp reports qtrly adjusted loss/shr of $0.01
Monday, 7 Aug 2017 06:14pm EDT 

Aug 7 (Reuters) - Lendingclub Corp ::LendingClub reports second quarter and full year 2017 results.Q2 adjusted loss per share $0.01.Q2 loss per share $0.06.Q2 revenue $139.6 million versus i/b/e/s view $136.4 million.Q2 earnings per share view $-0.01 -- Thomson Reuters I/B/E/S.Sees full year 2017 ‍total net revenue in range of $585 million to $600 million​.FY2017 revenue view $589.9 million -- Thomson Reuters I/B/E/S.Sees full year 2017 ‍adjusted EBITDA in range of $50 million to $58 million .Sees ‍Q3 total net revenue in range of $154 million to $159 million​.Says ‍loan originations in Q2 of 2017 were $2.15 billion, up 10% from q1 of 2017​.Sees full year 2017 ‍net loss in range $61 million - $69 million​.Sees ‍Q3 net loss in range of $8 million to $12 million ​.Sees ‍Q3 adjusted ebitda in range of $18 million to $22 million​.Q3 revenue view $155.6 million -- Thomson Reuters I/B/E/S.  Full Article

LendingClub cautions investors against potential unsolicited exchange offer from IEG Holdings
Friday, 7 Jul 2017 04:01pm EDT 

July 7 (Reuters) - LendingClub Corp ::LendingClub cautions investors against potential unsolicited exchange offer from ieg holdings.LendingClub Corp - board has unanimously concluded offer "is not in best interests" of lendingclub and its stockholders.LendingClub- On June 29, board got letter from ieg holdings stating intention to buy up to 9.99 percent of outstanding common stock of LendingClub​.LendingClub Corp - board has unanimously concluded ieg holdings offer is "grossly inadequate".LendingClub-IEG stated intention to buy up to 9.99 percent of LendingClub on basis of 2 shares of ieg stock for each share of LendingClub common stock​.  Full Article

LendingClub Corp says requests that its S-3, filed with U.S. SEC on May 22, be withdrawn
Monday, 22 May 2017 01:57pm EDT 

May 22 (Reuters) - Lendingclub Corp :LendingClub Corp says requests that its S-3, filed with U.S. SEC on May 22, be withdrawn - SEC filing.LendingClub Corp says requesting withdrawal of S-3 because of a filing error relating to the Edgar coding.Registration statement was incorrectly coded & filed as “S-3,” while Co intended registration statement to be filed with with code “S-3ASR”.  Full Article

BRIEF-Quarz Capital Management Sends Open Letter To Lendingclub

* QUARZ CAPITAL MANAGEMENT SAYS PROPOSES THAT LENDINGCLUB REVAMPS ITS TOP EXECUTIVE COMPENSATION STRUCTURE Source text for Eikon: Further company coverage: