TIAA CREF Investment Management LLC acquired a new stake in shares of Howard Bancorp, Inc. (NASDAQ:HBMD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 23,215 shares of the financial services provider’s stock, valued at approximately $447,000. TIAA CREF Investment Management LLC owned about 0.24% of Howard Bancorp as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Biegel & Waller LLC increased its holdings in shares of Howard Bancorp by 1.7% during the 2nd quarter. Biegel & Waller LLC now owns 100,784 shares of the financial services provider’s stock valued at $1,940,000 after acquiring an additional 1,672 shares during the last quarter. Schwab Charles Investment Management Inc. acquired a new position in shares of Howard Bancorp during the 2nd quarter valued at about $293,000. Teachers Advisors LLC acquired a new position in shares of Howard Bancorp during the 2nd quarter valued at about $296,000. JPMorgan Chase & Co. acquired a new stake in Howard Bancorp in the 2nd quarter valued at approximately $363,000. Finally, Bank of New York Mellon Corp acquired a new stake in Howard Bancorp in the 2nd quarter valued at approximately $473,000. 64.56% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Steven Poynot sold 1,334 shares of Howard Bancorp stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $20.46, for a total transaction of $27,293.64. Following the sale, the executive vice president now owns 167 shares of the company’s stock, valued at approximately $3,416.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.59% of the stock is currently owned by company insiders.
A number of research firms have issued reports on HBMD. TheStreet lowered Howard Bancorp from a “b” rating to a “c+” rating in a report on Monday, August 21st. Stephens raised Howard Bancorp from an “equal weight” rating to an “overweight” rating and set a $21.00 target price on the stock in a report on Friday, August 18th. UBS raised Howard Bancorp from an “outperform” rating to a “strong-buy” rating in a report on Monday, August 21st. Zacks Investment Research raised Howard Bancorp from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Tuesday, August 22nd. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $23.00 target price (up previously from $22.00) on shares of Howard Bancorp in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Howard Bancorp currently has a consensus rating of “Buy” and a consensus target price of $21.33.
Howard Bancorp, Inc. (HBMD) traded up $0.30 on Tuesday, reaching $22.85. The company’s stock had a trading volume of 19,556 shares, compared to its average volume of 27,584. Howard Bancorp, Inc. has a 12-month low of $14.15 and a 12-month high of $23.05. The firm has a market cap of $214.46, a price-to-earnings ratio of 31.67 and a beta of -0.07. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.00 and a quick ratio of 0.95.
Howard Bancorp (NASDAQ:HBMD) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.06). Howard Bancorp had a return on equity of 5.33% and a net margin of 10.57%. The firm had revenue of $14.86 million for the quarter, compared to analyst estimates of $15.20 million. equities research analysts expect that Howard Bancorp, Inc. will post 0.8 EPS for the current year.
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Howard Bancorp Profile
Howard Bancorp, Inc is the bank holding company of Howard Bank. The Company’s primary business is to own all of the capital stock of Howard Bank. The Company operates through Community Banking segment. Howard Bank is a trust company, which has approximately four operating subsidiaries. The Company offers a range of services to its customers, including wire transfer services, automated teller machine (ATM) and check cards, ATMs at all of its service branch locations, safe deposit boxes at all service locations and credit cards through a third-party processor.
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