Shares of Howard Bancorp, Inc. (NASDAQ:HBMD) have received an average broker rating score of 1.50 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. Howard Bancorp’s rating score has declined by 50% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a one year consensus price objective of $23.00 for the company and are expecting that the company will post $0.22 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Howard Bancorp an industry rank of 115 out of 265 based on the ratings given to its competitors.
Several brokerages have recently commented on HBMD. Zacks Investment Research upgraded shares of Howard Bancorp from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Tuesday, August 22nd. Raymond James Financial upgraded shares of Howard Bancorp from an “outperform” rating to a “strong-buy” rating and set a $22.00 target price on the stock in a research note on Monday, August 21st. UBS upgraded shares of Howard Bancorp from an “outperform” rating to a “strong-buy” rating in a research note on Monday, August 21st. TheStreet downgraded shares of Howard Bancorp from a “b” rating to a “c+” rating in a research note on Monday, August 21st. Finally, Stephens upgraded shares of Howard Bancorp from an “equal weight” rating to an “overweight” rating and set a $21.00 target price on the stock in a research note on Friday, August 18th.
Shares of Howard Bancorp (NASDAQ:HBMD) traded down $0.45 during trading on Monday, reaching $22.10. 83,373 shares of the company’s stock traded hands, compared to its average volume of 27,915. The company has a market cap of $216.91, a price-to-earnings ratio of 32.03 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 has a 12-month low of $14.20 and a 12-month high of $24.20.
Howard Bancorp (NASDAQ:HBMD) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.06). The business had revenue of $14.86 million during the quarter, compared to the consensus estimate of $15.20 million. Howard Bancorp had a net margin of 10.57% and a return on equity of 5.33%. sell-side analysts forecast that Howard Bancorp will post 0.8 EPS for the current year.
In other news, EVP Steven Poynot sold 1,334 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $20.46, for a total value of $27,293.64. Following the sale, the executive vice president now owns 167 shares in the company, valued at approximately $3,416.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.59% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Macquarie Group Ltd. acquired a new stake in shares of Howard Bancorp in the 3rd quarter valued at $118,000. New York State Common Retirement Fund acquired a new position in Howard Bancorp during the 2nd quarter worth about $181,000. OxFORD Asset Management LLP acquired a new position in Howard Bancorp during the 3rd quarter worth about $235,000. Schwab Charles Investment Management Inc. acquired a new position in Howard Bancorp during the 2nd quarter worth about $293,000. Finally, Teachers Advisors LLC acquired a new position in Howard Bancorp during the 2nd quarter worth about $296,000. Institutional investors own 64.56% of the company’s stock.
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About Howard Bancorp
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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