Happen Bank (NASDAQ:HAPN) General Counsel Jordan Cheng Sells 2,800 Shares of Company Stock

Happen Bank (NASDAQ:HAPN) General Counsel Jordan Cheng sold 2,800 shares of the business’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $16.76, for a total transaction of $46,928.00. Following the completion of the transaction, the general counsel owned 100,813 shares of the company’s stock, valued at approximately $1,689,625.88. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jordan Cheng also recently made the following trade(s):

• On Thursday, October 29th, Jordan Cheng sold 2,800 shares of Happen Bank stock. The stock was sold at an average price of $16.00, for a total transaction of $44,800.00.
• On Thursday, September 3rd, Jordan Cheng sold 2,800 shares of Happen Bank stock. The shares were sold at an average price of $17.56, for a total transaction of $49,168.00.

Happen Bank Trading Down 1.4%

HAPN traded down $0.22 on Friday, reaching $15.96. The stock had a trading volume of 1,695,994 shares, compared to its average volume of 2,762,823. Happen Bank has a 12-month low of $13.05 and a 12-month high of $21.67. The company has a 50-day moving average price of $15.67. The company has a market cap of $1.84 billion, a P/E ratio of 8.92 and a beta of 1.61.

Happen Bank (NASDAQ:HAPN) last posted its earnings results on Wednesday, October 28th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. Happen Bank had a net margin of 20.16% and a return on equity of 13.62%. The business had revenue of $279.09 million for the quarter. Happen Bank’s quarterly revenue was down 1.1% on a year-over-year basis. Analysts predict that Happen Bank will post 1.89 EPS for the current year.

Analyst Upgrades and Downgrades

HAPN has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Happen Bank in a research note on Tuesday, September 22nd. Citizens Jmp lifted their price target on shares of Happen Bank from $23.00 to $25.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 28th. BTIG Research reissued a “buy” rating and issued a $25.00 price target on shares of Happen Bank in a report on Tuesday, July 28th. Finally, Piper Sandler cut their price target on shares of Happen Bank from $25.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, October 29th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.33.

Institutional Investors Weigh In On Happen Bank

A hedge fund recently raised its stake in Happen Bank stock. Knights of Columbus Asset Advisors LLC raised its position in shares of Happen Bank (NASDAQ:HAPN) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,804 shares of the company’s stock after acquiring an additional 1,084 shares during the quarter. Knights of Columbus Asset Advisors LLC owned approximately 0.15% of Happen Bank worth $2,569,000 as of its most recent SEC filing. Institutional investors own 74.08% of the company’s stock.

Happen Bank Company Profile

Happen Bank, originally founded as LendingClub in 2006, is a digital bank primarily built for high-FICO, high-income borrowers that are actively managing their financial lives. The company offers products to make financial progress both fast and easy. Additionally, the company provides advanced credit underwriting, a proprietary technology platform, and a marketplace bank model intended to drive value for members, loan investors, and shareholders. Happen Bank is headquartered in San Fancisco, California.