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Video: What is a Stock Split?

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LendingClub operates an online lending marketplace platform that connects borrowers and investors. Co.'s marketplace enables credit decisioning, pricing, servicing and support operations. Co.'s subsidiary, LC Trust I (the LC Trust), is an independent Delaware business trust that acquires loans from Co. and holds them for the sole benefit of certain investors that have purchased trust certificates issued by the LC Trust that are related to specific underlying loans for the benefit of the investor. Springstone Financial, LLC, is a wholly-owned subsidiary of Co. that facilitates education and patient finance loans originated by third-party issuing banks. According to our LC split history records, LendingClub has had 2 splits.
LC split history picture
LendingClub (LC) has 2 splits in our LC split history database. The first split for LC took place on December 03, 1991. This was a 2 for 1 split, meaning for each share of LC owned pre-split, the shareholder now owned 2 shares. For example, a 1000 share position pre-split, became a 2000 share position following the split. LC's second split took place on July 08, 2019. This was a 1 for 5 reverse split, meaning for each 5 shares of LC owned pre-split, the shareholder now owned 1 share. For example, a 2000 share position pre-split, became a 400 share position following the split.

When a company such as LendingClub splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business. When a company such as LendingClub conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.

Looking at the LC split history from start to finish, an original position size of 1000 shares would have turned into 400 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into LendingClub shares, starting with a $10,000 purchase of LC, presented on a split-history-adjusted basis factoring in the complete LC split history. LC split adjusted history picture

Growth of $10,000.00
Without Dividends Reinvested

Start date: 12/11/2014
End date: 07/14/2020
Start price/share: $117.15
End price/share: $5.17
Dividends collected/share: $0.00
Total return: -95.59%
Average Annual Total Return: -42.77%
Starting investment: $10,000.00
Ending investment: $441.25
Years: 5.59
Date Ratio
12/03/19912 for 1
07/08/20191 for 5
LC is categorized under the Financials sector; below are some other companies in the same sector that also have a history of stock splits:

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