LendingClub loss rates picking up - Compass Point
Dec. 23, 2016 10:43 AM ETLendingClub Corporation (LC)LCBy: Stephen Alpher, SA News Editor20 Comments
- Loss rates have started to pick up more "meaningfully," says Compass Point's bearish Michael Tarkan. And with delinquencies trending higher, he expects this to continue.
- The delinquency rate across all grades for 3-year loans within the Q2 vintage rose to 1.81% from 1.47% the previous quarter. The consolidated loss rate for 3-year loans in the Q1 vintage rose to 0.98% from 0.77% three months earlier.
- Tarkan rates LendingClub (NYSE:LC) a Sell with $4 price target.
- Shares +1.15% today to $5.32.