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.

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