LendingClub hits another 52-week high

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It is not fair Bitcoin that reaches new heights. Loan Club (NYSE: LC), once a market lending platform and now a nationally chartered bank, hit a new 52-week high. While Bitcoin is up around 4.28% for the day, LendingClub is doing better with an increase of 4.52% (at current prices before market close).

Last week, CI reported that LendingClub was trading around $ 34 per share for the first time in a very long time. Today, LendingClub traded over $ 36 / share, setting a new high for the year. While the overall market has had a good day so far to help LendingClub, the increase may be due to rising earnings expectations as LendingClub will share third quarter performance next week after a beat in the last quarter.

Although coverage is limited, consensus EPS for the quarter is set at $ 0.11 and will increase over the next year.

Investors will be interested in both the highest and the lowest numbers, but the most interesting will be the development of LendingClub Bank. Digital banking is a hot sector of FinTech. LendingClub is one of the few pure Fintechs to have a national charter. The fact that several budding digital banks have decided to bail out the pursuit of a banking charter means they will be relegated to neo-bank status – providing services in partnership with others. This can give LendingClub a competitive edge with things like deposits and loans. The Biden administration has emerged as less supportive of innovation when it comes to the financial services industry and less fintech could become true banks over the next two years, making LendingClub more easily differentiate itself.

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