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Does LendingClub (LC) have what it takes to be a top stock pick for momentum investors? Let's find out.
This Small-Cap Stock Is Up 63% in 2024. Here's Why a Historic Opportunity Could Send It Even Higher.
Consumers have racked up record credit card debt. Falling interest rates could benefit this company in a huge way.
Does LendingClub (LC) have what it takes to be a top stock pick for momentum investors? Let's find out.
J.P. Morgan analysts notes the lender's management says they are seeing bank partners return to the loan marketplace for the first time in about six quarters.
I believe LendingClub's Q3 2024 earnings report was a solid, and the market rewarded it with a 6% increase in its share price. The company is capitalizing on favorable market conditions with consistent loan origination growth and a strategic $1.3 billion loan portfolio acquisition. I am confident that LendingClub's strong loan origination growth, recent loan portfolio acquisition, and improved return on assets make it well-positioned for a turnaround.
LendingClub's latest quarterly results show an acceleration of loan originations, and banks have moved back to the company's platform as consumers look for ways to consolidate and pay down debt — particularly credit card debt. The company's earnings supplementals indicated that loan originations were up 6% sequentially to $1.
LendingClub Corporation (NYSE:LC ) Q3 2024 Earnings Conference Call October 23, 2024 5:00 PM ET Company Participants Artem Nalivayko - Head, IR Scott Sanborn - CEO Drew LaBenne - CFO Conference Call Participants Tim Switzer - KBW Vincent Caintic - BTIG Giuliano Bologna - Compass Point John Hecht - Jefferies Brad Capuzzi - Piper Sandler Reggie Smith - JP Morgan Operator Good afternoon. Thank you for attending today's LendingClub Third Quarter 2024 Earnings Conference Call.
The headline numbers for LendingClub (LC) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
LendingClub (LC) came out with quarterly earnings of $0.13 per share, beating the Zacks Consensus Estimate of $0.07 per share. This compares to earnings of $0.05 per share a year ago.
Originations and Revenue Growth Supported by Return of Bank Buyers Total Assets Grew 25% Year to Date Driven by $1.3 Billion Purchase of LendingClub Loans Acquired Tally's Technology in October to Accelerate Product Roadmap SAN FRANCISCO , Oct. 23, 2024 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, today announced financial results for the third quarter ended September 30, 2024. "We had a standout quarter, with credit outperformance and the return of bank buyers driving improved loan sales pricing, our capital strategy delivering a 25% larger balance sheet year to date, and strong financial performance translating to a meaningful improvement in book value per common share over the past 12 months," said Scott Sanborn, LendingClub CEO.