50,301 Happen Bank $HAPN Shares Sold by Joel Isaacson & Co. LLC

Joel Isaacson & Co. LLC cut its stake in Happen Bank (NASDAQ:HAPN) by 41.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 70,000 shares of the company’s stock after selling 50,301 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Happen Bank were worth $1,035,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Happen Bank

In other Happen Bank news, General Counsel Jordan Cheng sold 2,800 shares of Happen Bank stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $16.76, for a total value of $46,928.00. Following the completion of the transaction, the general counsel directly owned 100,813 shares of the company’s stock, valued at approximately $1,689,625.88. The trade was a 2.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 approximately $26,695,625.50. This represents a 1.93% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last ninety days, insiders sold 114,650 shares of company stock worth $2,118,984. 3.31% of the stock is owned by corporate insiders.

Happen Bank Price Performance

Happen Bank stock opened at $15.27 on Friday. Happen Bank has a twelve month low of $13.05 and a twelve month high of $21.67. The stock has a market cap of $1.76 billion, a P/E ratio of 8.53 and a beta of 1.61. The stock has a 50 day moving average of $15.53.

Happen Bank (NASDAQ:HAPN) last posted its quarterly 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. The firm 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 firm’s revenue was down 1.1% on a year-over-year basis. Research analysts predict that Happen Bank will post 1.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Happen Bank in a research report on Tuesday, September 22nd. Citizens Jmp lifted their price target on Happen Bank from $23.00 to $25.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 28th. BTIG Research restated a “buy” rating and set a $25.00 price target on shares of Happen Bank in a research report on Tuesday, July 28th. Finally, Piper Sandler reduced their price target on Happen Bank from $25.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, October 29th. Three equities 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, the company has an average rating of “Moderate Buy” and an average target price 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.