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Fly News Breaks for February 19, 2020
LC
Feb 19, 2020 | 08:52 EDT
After LendingClub announced an agreement to acquire Radius Bancorp, Janney Montgomery Scott analyst John Rowan said there are many benefits to the company of owning a bank, but he believes these benefits are a second half of 2021 event "at best". In the meantime, the standalone entity has decelerating net revenue growth and just issued disappointing guidance for 2020, said Rowan, who maintains his Neutral rating and $18 fair value estimate on LendingClub shares.
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