Shares of Howard Bancorp Inc (NASDAQ:HBMD) have been given a consensus rating of “Buy” by the six brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $22.33.
HBMD has been the subject of several research reports. Raymond James Financial restated an “outperform” rating and set a $23.00 price objective (up from $22.00) on shares of Howard Bancorp in a research note on Friday, October 20th. Zacks Investment Research cut shares of Howard Bancorp from a “strong-buy” rating to a “sell” rating in a research note on Monday, October 23rd. Finally, Merion Capital Group upgraded shares of Howard Bancorp from a “neutral” rating to an “outperform” rating and set a $23.00 price objective for the company in a research note on Friday, February 9th. They noted that the move was a valuation call.
In other Howard Bancorp news, Director Robert J. Hartson sold 7,500 shares of Howard Bancorp stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $23.15, for a total transaction of $173,625.00. Following the completion of the sale, the director now directly owns 159,276 shares in the company, valued at approximately $3,687,239.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 10.59% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Howard Bancorp by 1.0% during the 4th quarter. BlackRock Inc. now owns 403,346 shares of the financial services provider’s stock valued at $8,874,000 after acquiring an additional 3,901 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Howard Bancorp by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 394,407 shares of the financial services provider’s stock valued at $7,592,000 after purchasing an additional 16,266 shares during the period. Brown Advisory Inc. lifted its stake in shares of Howard Bancorp by 1.1% in the 3rd quarter. Brown Advisory Inc. now owns 349,577 shares of the financial services provider’s stock valued at $7,305,000 after purchasing an additional 3,734 shares during the period. Hilton Capital Management LLC lifted its stake in shares of Howard Bancorp by 9.4% in the 3rd quarter. Hilton Capital Management LLC now owns 192,465 shares of the financial services provider’s stock valued at $4,023,000 after purchasing an additional 16,550 shares during the period. Finally, Maltese Capital Management LLC lifted its stake in shares of Howard Bancorp by 5.5% in the 3rd quarter. Maltese Capital Management LLC now owns 183,900 shares of the financial services provider’s stock valued at $3,844,000 after purchasing an additional 9,599 shares during the period. Institutional investors and hedge funds own 63.23% of the company’s stock.
Shares of Howard Bancorp (NASDAQ HBMD) traded up $0.30 during midday trading on Friday, reaching $18.45. 30,062 shares of the company’s stock traded hands, compared to its average volume of 22,918. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.95 and a current ratio of 1.00. Howard Bancorp has a twelve month low of $16.70 and a twelve month high of $24.20. The firm has a market cap of $186.10, a PE ratio of 24.61 and a beta of -0.17.
Howard Bancorp (NASDAQ:HBMD) last announced its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). Howard Bancorp had a net margin of 11.51% and a return on equity of 5.76%. The business had revenue of $14.53 million for the quarter, compared to analyst estimates of $15.35 million. sell-side analysts forecast that Howard Bancorp will post 1.25 earnings per share for the current fiscal year.
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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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