Zacks Investment Research Lowers Howard Bancorp (HBMD) to Hold

Zacks Investment Research cut shares of Howard Bancorp (NASDAQ:HBMD) from a buy rating to a hold rating in a research note released on Wednesday.

According to Zacks, “Howard Bancorp, Inc., headquartered in Ellicott City, Maryland, operates as a holding company for Howard Bank that provides a range of commercial and retail banking services in Maryland. It offers various deposits products, such as community business, business relationship, business solutions, super, howard relationship, and howard maximum checking accounts; individual retirement accounts; business, junior, and personal savings accounts; anniversary, incentive, and business money market accounts; and certificates of deposits. The company’s loan portfolio comprises commercial construction, commercial real estate, home equity, and consumer installment loans; and commercial and unsecured lines of credit. Howard Bancorp also provides business and personal online banking and Web BillPay services, ATM cards, business credit cards, and cash management, lockbox processing, and wire transfers services. “

A number of other equities research analysts have also recently weighed in on HBMD. Merion Capital Group upgraded 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. Raymond James Financial reiterated an outperform rating and issued a $23.00 price objective (up previously from $22.00) on shares of Howard Bancorp in a research note on Friday, October 20th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $23.00.

Howard Bancorp (NASDAQ HBMD) opened at $18.75 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.00 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $186.59, a P/E ratio of 25.00 and a beta of -0.17. Howard Bancorp has a fifty-two week low of $16.70 and a fifty-two week high of $24.20.

Howard Bancorp (NASDAQ:HBMD) last announced its quarterly earnings results on Monday, January 22nd. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ 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 during the quarter, compared to analyst estimates of $15.35 million. equities analysts anticipate that Howard Bancorp will post 1.25 EPS for the current fiscal year.

In other Howard Bancorp news, Director Robert J. Hartson sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $23.15, for a total value of $173,625.00. Following the completion of the sale, the director now owns 159,276 shares in the company, valued at $3,687,239.40. The sale was disclosed in a document filed with the SEC, which is available through this link. 10.59% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Macquarie Group Ltd. purchased a new stake in Howard Bancorp in the third quarter valued at approximately $118,000. SG Americas Securities LLC purchased a new stake in shares of Howard Bancorp during the fourth quarter worth approximately $150,000. New York State Common Retirement Fund purchased a new stake in shares of Howard Bancorp during the second quarter worth approximately $181,000. OxFORD Asset Management LLP purchased a new stake in shares of Howard Bancorp during the third quarter worth approximately $235,000. Finally, Schwab Charles Investment Management Inc. purchased a new stake in shares of Howard Bancorp during the second quarter worth approximately $293,000. Institutional investors own 63.23% of the company’s stock.

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Howard Bancorp Company 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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