HomeTop MoversHere is why LendingClub Corporation (LC) stock turnaround in the after-hours on...

Here is why LendingClub Corporation (LC) stock turnaround in the after-hours on Wednesday?

LendingClub Corporation (LC) shares surged 27.77% in after-hours on Wednesday, October 27, 2021, and closed the daily trading at $40.40. However, in the regular trading session, LC’s stock lost 8.88%. LC shares have risen 568.50% over the last 12 months, and they have moved down 10.09% in the past week. Over the past three months, the stock has gained 31.64%, while over the past six months, it has soared 97.75%.

Let’s have a brief look at its recent developments.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free.

Sponsored


>> 7 Top Picks for the Post-Pandemic Economy << 

LC recent financial results announcement

On October 27, 2021, LendingClub Corporation (LC) announced financial results for the third quarter ended September 30, 2021.

Read More

Q3 2021 financial highlights

  • LC reported record revenue of $246.2 million in Q3 2021 compared to $71.04 million in Q3 2020.
  • Total interest expenses were $17.57 million in Q3 2021.
  • Total non-interest expenses were $178.77 million in Q3 2021.
  • It earned Net income of $27.2 million and earnings per share of $0.26in Q3 2021 compared to $34.3 million of net income and earnings per share of $0.38 in Q3 2020.

Q4 and FY 2021 financial guidance

  • For Q4 2021, the company is expecting total revenue in the range of $240 million to $250 million and net income of $20 million to $25 million.
  • For FY 2021, the company is expecting total revenue in the range of $796 million to $806 million and net income in the range of $9million to $14 million.

LC expand investor access

On September 9, 2021, LendingClub Corporation (LC) extended the capabilities of its electronic trading platform LCX to include LCX Link. This innovation opens access and removes friction for institutional platform investors, allowing them to automatically purchase, sell and settle loan transactions through LCX without the need for technology infrastructure or the ability to build connectivity.

LC participation in the recent investor conference

LendingClub Corporation (LC) recently participated at the JMP Securities Fintech Forum which was held on September 10, 2021. The company was presented by its Chief Financial Officer Tom Casey and its Chief Consumer Banking Officer Ronnie Momen during the event.

>> 7 Top Picks for the Post-Pandemic Economy << 

Conclusion

The recent financial results were the reason behind its exceptional performance in the after-hours on Wednesday. we can expect it to continue its momentum on Thursday as well.

Must Read

Related News

LEAVE A REPLY

Please enter your comment!
Please enter your name here