LendingClub Q1 revenue jumps 16%, beats forecasts; rebrand to Happen Bank set for summer

LendingClub

27/04/2026 21:19

Overview

US digital bank's Q1 revenue rose 16% yr/yr, beating analyst expectations

Diluted EPS for Q1 more than quadrupled to $0.44 from prior year

Company to rebrand as Happen Bank in summer 2026

Outlook

LendingClub sees Q2 2026 loan originations of $3.0 bln to $3.1 bln

Company expects Q2 2026 diluted EPS of $0.40 to $0.45

LendingClub forecasts full-year 2026 loan originations of $11.6 bln to $12.6 bln

Company expects full-year 2026 diluted EPS of $1.65 to $1.80

Result Drivers

ORIGINATIONS GROWTH - 31% yr/yr rise in loan originations driven by product and marketing initiatives

CREDIT PERFORMANCE - Lower provision for credit losses and improved net charge-offs due to strong credit performance and adoption of fair value option accounting

OPERATIONAL EFFICIENCY - AI-powered automation led to record personal loans operations production efficiency and over 90% automation rate for issued loans

Company press release: ID:nPn1qmG5Ma

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$252.30 mln
$249.11 mln (10 Analysts)
Q1 EPS
$0.44
Q1 Net Income
$51.60 mln
Q1 Credit Loss Provision
$400,000


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the consumer lending peer group is "buy"

Wall Street's median 12-month price target for LendingClub Corp is $22.11, about 26.6% above its April 24 closing price of $17.47

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 12 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)