Digital lender On Deck Capital Inc. reported adjusted net income of $7.8 million, or 10 cents per share, compared with $13.0 million, or 16 cents per share, in the third quarter of 2018.

The S&P Global Market Intelligence consensus estimate for normalized EPS for the third quarter was 7 cents.

The company posted third-quarter net income attributable to common stockholders of $8.7 million, or 11 cents per share, compared with $9.6 million, or 12 cents per share, in the year-ago period.

Third-quarter net revenue was $58.2 million, up from $52.0 million in the same quarter a year ago.

Loan originations for the quarter totaled $629.3 million, a decrease from $647.8 million in the prior-year period.

OnDeck also updated guidance for full year 2019. The company's expectations for its 2019 net income jumped to between $21 million and $25 million, up substantially from its previous expectations of $12 million to $20 million. Adjusted net income is expected to be between $28 million and $32 million, up from between $22 million and $30 million previously. It also now expects gross revenue of $442 million to $446 million, a more narrow range from its previous expectations of $438 million to $448 million.

On Oct. 21, OnDeck's digital loan origination platform, ODX, signed a partnership with Investors Bancorp Inc. to enhance its small business lending program. Investors Bancorp has $26.7 billion in assets and a network of 147 branches in New York and New Jersey. Last quarter, OnDeck announced that long-time partner JPMorgan Chase & Co. would stop originating loans through OnDeck's platform.

Shares of the company jumped 19.8% to $4.35 as of 10:33 a.m. ET on Oct. 24 from its opening price on the same day.