Citizens analyst David Scharf reiterated a Market Perform rating and $20.00 price target on Upstart Holdings Inc (NASDAQ: UPST).

The analyst commented, "Upstart Holdings is following other lenders by seeking a banking license. The company announced after the close yesterday that it would be applying for a federal bank charter. The announcement follows similar moves from other non-bank lenders that are capitalizing on the uniquely favorable regulatory environment under the Trump administration to apply for or acquire banking licenses and replace their current patchwork of state-level regulatory regimes."

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Shares of Upstart Holdings Inc closed at $28.16 yesterday.