3.63 0.00 (0.00%)
After hours: 5:00PM EDT
|Bid||0.00 x 36900|
|Ask||3.68 x 1100|
|Day's Range||3.57 - 3.68|
|52 Week Range||2.57 - 6.56|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 5, 2018 - Nov 9, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||5.04|
Renaud Laplanche spent ten years building LendingClub. Circumventing conventional banking channels for consumer credit began in 1996 when Chris Larsen started E-LOAN, which ultimately led to Prosper Marketplace. While LendingClub has struggled in the public markets since their late 2014 IPO, they have managed to propel their industry into significance, while rapidly expanding their share of the personal loan market to 10%.
Senior managers are winning flexible schedules that allow them to commute long distances, extended temporary-housing contracts and bigger sums to cover money lost on home sales, recruiters and compensation specialists say. “Talented executives asked to relocate now have the power to get what they need from an employer,” said Hayes Reilly, a managing partner at Preston & Partners Talent Solutions, an executive-search firm. LendingClub Corp. spent nearly $6.4 million to bring two new top officers and their families to the San Francisco Bay Area in 2017, according to an analysis of data from company proxies by research firm Equilar Inc. That sum largely reflects $3 million in relocation bonuses for Steve Allocca, the new president, and Thomas Casey, LendingClub’s chief financial officer.
LendingClub (LC) is a leader in the P2P (peer-to-peer) lending market, meaning that it’s well-positioned to capitalize on the strong demand for P2P loans. The global P2P lending market is expanding at a rate of 48.2% annually and is on track to hit $897.9 billion by 2024, according to Transparency Market Research. LendingClub operates an online platform that brings borrowers and lenders together.
Renaud Laplanche is taking steps to avoid the pitfalls he faced when running LendingClub. More than two years after his ouster from LendingClub LC , Renaud Laplanche still owns millions of dollars worth of stock in the company he created, even though he's since started a rival online lender that's rapidly growing. "I still very much believe in the company and the people who work there," Laplanche told CNBC.
PayPal’s (PYPL) FundsNow program allows businesses to access their sales funds instantly instead of waiting for days or weeks, as has been typical over the years. Instant access to funds could allow borrowers to settle their PayPal loans faster. PayPal could end up facilitating more loans in a year than it did before it launched the FundsNow program.
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.
A national banking regulator is offering cutting-edge financial firms a new pathway into the traditional banking system. The lack of immediate interest from the likes of LendingClub Corp., Square Inc., and others comes in large part from uncertainty about what activities the Office of the Comptroller of the Currency’s so-called fintech charter will allow, what regulatory requirements it will carry, and whether it will hold up in court. The OCC opened its door to formal applications July 31, giving the states a fresh legal angle to pursue after previous suits were deemed premature.
Square’s (SQ) expanding list of products and services could see the company capture a higher share of merchants’ operating expenditures. This trend could allow the company to grow its revenues faster than Wall Street currently expects, according to investment and advisory firm Guggenheim Partners.
Square (SQ) has released an improved model of its basic card reader device, a move that is expected to enable more small businesses to accept card-based payments.
Funding Circle (IPO-FNIG.L) will test investor demand for British peer-to-peer lenders in a listing scheduled for October and expected to value it at more than 1.5 billion pounds. As the first of Britain's new breed of financial technology firms to IPO, the company backed by Danish billionaire Anders Holch Povlsen and launched in 2010 hopes to raise around 300 million pounds from the listing on the London Stock Exchange. Some in the financial industry are concerned about whether upstart peer-to-peer lenders challenging established banks will be able to weather an economic downturn and similar platforms in the United States have seen their shares tank after hitting problems.
Upgrade co-founder and CEO Renaud Laplanche said the startup expects to be profitable next year. The lending platform has originated more than $1 billion in consumer loans since its founding in 2016.
U.S. equities moved lower on Thursday — the first decline in five sessions — as optimism around trade talks with Canada are eclipsed by a worsening situation in emerging market currencies. The company will next report results on Nov. 6, after the close.
NEW YORK, Aug. 31, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of Inter ...
Square (SQ) has updated its payment card readers to process chip card transactions faster, allowing sellers who use the readers to speed up the lines at their checkout terminals. Customers also benefit by not having to wait so long in line.
Financial technology companies that lend online are sounding a cautious note on a U.S. banking regulator's plan to offer them special federal charters because of concerns over legal challenges and requirements that are more onerous than expected. The Office of the Comptroller of the Currency said last month it would accept applications for banking licenses from the likes of LendingClub (LC.N) and OnDeck Capital Inc (ONDK.N), online lenders that do business outside the traditional banking system. Fintech executives lobbied for the license and applauded the OCC's decision, but they are not immediately rushing in, they told Reuters.
Financial technology companies that lend online are sounding a cautious note on a U.S. banking regulator's plan to offer them special federal charters because of concerns over legal challenges and requirements that are more onerous than expected. The Office of the Comptroller of the Currency said last month it would accept applications for banking licenses from the likes of LendingClub (LC.N) and OnDeck Capital Inc (ONDK.N), online lenders that do business outside the traditional banking system. Fintech executives lobbied for the licence and applauded the OCC's decision, but they are not immediately rushing in, they told Reuters.
LendingClub Corp. (lc) disclosed a Massachusetts investigation into its advertising and disclosure practices Thursday, sending shares down in after-hours trading following a rough regular session. In its quarterly filing with the Securities and Exchange Commission, the online lender said that it had received a civil investigative demand from the Massachusetts attorney general in June. The company also noted that it had "responded to inquiries from the California Department of Business Oversight and the New York Department of Financial Services regarding the operation of the company's business and the overall 'FinTech' industry." LendingClub did not disclose the investigations in its earnings report nor in its related conference call Tuesday afternoon.
MARKET PULSE Shares of LendingClub Inc. (lc) are down 10% in Wednesday morning trading after the company reported better-than-expected revenue and earnings for its second quarter but delivered a disappointing forecast.
LendingClub's (LC) Q2 loss reflects rise in operating expenses, along with decline in loan balances. However, revenues continue to improve year over year.