Sterne Agee CRT Downgrades Lending Club (LC) to Underperform
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May 9, 2016 3:50 PM EDT
LendingClub (NYSE: LC) sell-off accelerates into the close. Shares now down 32.6%.
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May 9, 2016 9:10 AM EDT
Stifel downgraded Lending Club (NYSE: LC) from Buy to Hold.
For an analyst ratings summary and ratings history on Lending Club click here. For more ratings news on Lending Club click here.
Shares of Lending Club closed at $7.10 yesterday.
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May 9, 2016 7:10 AM EDT
LendingClub (NYSE: LC) reported Q1 EPS of $0.05, in-line with the analyst estimate of $0.05. Revenue for the quarter came in at $151.3 million versus the consensus estimate of $148.2 million.
Lending Club today also reported that on May 6, 2016, the board of directors accepted the resignation of Renaud Laplanche as Chairman and CEO. His resignation followed an internal review of sales of $22 million in near-prime loans to a single investor, in contravention of the investor's express instructions as to a non-credit and non-pricing element, in March and April 2016.
Scott Sanborn will continue in his role of... More
