LendingClubNYSE: LC

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.

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.

Goldilocks macro backdrop provides tailwinds to LC's business model. Lower rates translate to higher marketplace volumes and margins. Asset Managers and Bank Investors are expected to come back to the platform en masse.

SAN FRANCISCO , Oct. 3, 2024 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, announced that it will report earnings for the third quarter 2024 after the market closes on Wednesday, October 23, 2024. LendingClub will host a conference call to discuss the third quarter 2024 financial results at 2:00 p.m.

PITTSBURGH--(BUSINESS WIRE)--FHLBank Pittsburgh will relocate our headquarters at close-of-business on Friday, Oct. 11, 2024, to 301 Grant Street, Suite 2000, Pittsburgh, PA 15219.

LendingClub (LC) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Members Who Regularly Save Are Rewarded With a 5.30% Annual Percentage Yield (APY) SAN FRANCISCO , Aug. 22, 2024 /PRNewswire/ -- LendingClub Bank, America's leading digital marketplace bank and a subsidiary of LendingClub Corporation (NYSE: LC), announced the launch of LevelUp Savings, a high-yield savings account that rewards members with competitive rates for making ongoing monthly deposit contributions. "We're excited to offer LevelUp Savings, an all-new deposit product that rewards members who regularly engage with us, while still allowing us the flexibility to manage funding costs as Fed rate policy eases," said Scott Sanborn, LendingClub CEO.