Zacks Investment Research cut shares of Howard Bancorp (NASDAQ:HBMD) from a hold rating to a strong sell rating in a report issued on Tuesday, March 13th.
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. “
Separately, Merion Capital Group upgraded Howard Bancorp from a neutral rating to an outperform rating and set a $23.00 price target for the company in a research report on Friday, February 9th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $23.00.
Howard Bancorp stock opened at $19.25 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.01. Howard Bancorp has a 12-month low of $16.70 and a 12-month high of $24.20. The stock has a market capitalization of $190.52, a price-to-earnings ratio of 25.67 and a beta of 0.01.
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 return on equity of 5.72% and a net margin of 11.51%. The business had revenue of $14.53 million for the quarter, compared to analyst estimates of $15.35 million. sell-side analysts expect that Howard Bancorp will post 1.25 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Howard Bancorp by 23.5% in the third quarter. JPMorgan Chase & Co. now owns 23,309 shares of the financial services provider’s stock valued at $484,000 after buying an additional 4,436 shares during the period. Northern Trust Corp acquired a new stake in shares of Howard Bancorp in the second quarter valued at $1,566,000. Victory Capital Management Inc. lifted its holdings in shares of Howard Bancorp by 44.4% in the fourth quarter. Victory Capital Management Inc. now owns 62,535 shares of the financial services provider’s stock valued at $1,376,000 after buying an additional 19,235 shares during the period. TIAA CREF Investment Management LLC acquired a new stake in shares of Howard Bancorp in the second quarter valued at $447,000. Finally, Maltese Capital Management LLC lifted its holdings in shares of Howard Bancorp by 5.5% in the third quarter. Maltese Capital Management LLC now owns 183,900 shares of the financial services provider’s stock valued at $3,844,000 after buying an additional 9,599 shares during the period. Institutional investors and hedge funds own 64.85% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Zacks Investment Research Downgrades Howard Bancorp (HBMD) to Strong Sell” was originally posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this story on another domain, it was stolen and republished in violation of international copyright and trademark legislation. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2018/03/21/howard-bancorp-hbmd-downgraded-by-zacks-investment-research-to-strong-sell.html.
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.
Get a free copy of the Zacks research report on Howard Bancorp (HBMD)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Howard Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Howard Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.