Happen Bank $HAPN Shares Sold by Joel Isaacson & Co. LLC

Joel Isaacson & Co. LLC cut its stake in shares of Happen Bank (NASDAQ:HAPN) by 41.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,000 shares of the company’s stock after selling 50,301 shares during the quarter. Joel Isaacson & Co. LLC owned 0.06% of Happen Bank worth $1,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, Knights of Columbus Asset Advisors LLC increased its stake in Happen Bank by 0.6% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 173,804 shares of the company’s stock worth $2,569,000 after purchasing an additional 1,084 shares during the period. Hedge funds and other institutional investors own 74.08% of the company’s stock.

Happen Bank Price Performance

HAPN opened at $15.27 on Friday. The firm’s 50 day simple moving average is $15.53. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 8.53 and a beta of 1.61. Happen Bank has a one year low of $13.05 and a one year high of $21.67.

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

Insider Activity at Happen Bank

In related news, CEO Scott Sanborn sold 28,750 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $18.25, for a total transaction of $524,687.50. Following the completion of the transaction, the chief executive officer owned 1,462,774 shares in the company, valued at $26,695,625.50. This represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Jordan Cheng sold 2,800 shares of the firm’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $16.76, for a total value of $46,928.00. Following the completion of the sale, the general counsel directly owned 100,813 shares of the company’s stock, valued at $1,689,625.88. The trade was a 2.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 114,650 shares of company stock worth $2,118,984 over the last quarter. 3.31% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on HAPN. Piper Sandler lowered their price objective on Happen Bank from $25.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, October 29th. BTIG Research restated a “buy” rating and issued a $25.00 target price on shares of Happen Bank in a report on Tuesday, July 28th. Citizens Jmp lifted their target price on shares of Happen Bank from $23.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Happen Bank in a report on Tuesday, September 22nd. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Happen Bank presently has an average rating of “Moderate Buy” and an average price target of $23.33.

Happen Bank 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.