Happen Bank (NASDAQ:HAPN) Stock Price Target Lowered at Piper Sandler

Happen Bank (NASDAQ:HAPN) had its price target decreased by investment analysts at Piper Sandler from $25.00 to $20.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler‘s target price points to a potential upside of 27.55% from the company’s previous close.

Several other equities analysts have also commented on the stock. Citizens Jmp increased their target price on Happen Bank from $23.00 to $25.00 and gave the company a “market outperform” rating in a report on Tuesday, July 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Happen Bank in a research report on Tuesday, September 22nd. Finally, BTIG Research reissued a “buy” rating and set a $25.00 price objective on shares of Happen Bank in a research note on Tuesday, July 28th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Happen Bank currently has an average rating of “Moderate Buy” and a consensus target price of $23.33.

Happen Bank Price Performance

Shares of HAPN stock traded up $0.15 during trading hours on Thursday, hitting $15.68. 460,850 shares of the company were exchanged, compared to its average volume of 2,054,214. The company’s fifty day moving average price is $15.90. Happen Bank has a 52-week low of $13.05 and a 52-week high of $21.67. The firm has a market cap of $1.81 billion, a PE ratio of 8.77 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. The firm had revenue of $279.09 million for the quarter. Happen Bank had a return on equity of 13.62% and a net margin of 20.16%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. Research analysts forecast that Happen Bank will post 1.89 EPS for the current fiscal year.

Insider Buying and Selling

In other Happen Bank news, General Counsel Jordan Cheng sold 2,800 shares of the company’s stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $16.00, for a total transaction of $44,800.00. Following the transaction, the general counsel owned 103,613 shares in the company, valued at approximately $1,657,808. This represents a 2.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Fergal Stack sold 37,500 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $18.64, for a total transaction of $699,000.00. Following the completion of the transaction, the senior vice president directly owned 77,477 shares of the company’s stock, valued at approximately $1,444,171.28. This represents a 32.62% 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. In the last ninety days, insiders sold 140,600 shares of company stock valued at $2,663,156. 3.31% of the stock is owned by corporate insiders.

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.