Wedbush Positive on Lending Club (LC) Related to OCC Approval of Radius Bank Merger
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Wedbush analyst Henry Coffey reiterated an Outperform rating and $14.00 price target on Lending Club (NYSE: LC) after receiving approval from the OCC to merge with Radius Bank.
Coffey commented, "The regulatory approval process is moving quicker than expected, increasing our confidence that the merger between LC and Radius bank will occur on, or ahead, of schedule. This is an important step forward for this company and its evolution into a fully comprehensive loan/deposit platform or "neo-bank"."
Shares of Lending Club closed at $8.37 yesterday.
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