BidaskClub upgraded shares of Howard Bancorp (NASDAQ:HBMD) from a sell rating to a hold rating in a report published on Tuesday morning.
A number of other equities research analysts also recently weighed in on HBMD. Raymond James downgraded Howard Bancorp from an outperform rating to a market perform rating in a report on Tuesday, July 10th. Stephens reissued a buy rating and set a $18.00 target price on shares of Howard Bancorp in a report on Wednesday, August 1st. ValuEngine downgraded Howard Bancorp from a hold rating to a sell rating in a report on Tuesday, August 7th. Finally, Zacks Investment Research raised Howard Bancorp from a sell rating to a hold rating in a report on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $21.25.
Howard Bancorp stock traded down $0.12 during mid-day trading on Tuesday, hitting $15.51. 672 shares of the company’s stock traded hands, compared to its average volume of 30,170. Howard Bancorp has a fifty-two week low of $13.73 and a fifty-two week high of $24.20. The company has a market capitalization of $299.06 million, a price-to-earnings ratio of 19.82 and a beta of -0.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.01 and a quick ratio of 0.98.
Howard Bancorp (NASDAQ:HBMD) last announced its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.03). Howard Bancorp had a negative net margin of 2.37% and a positive return on equity of 4.10%. The business had revenue of $22.50 million for the quarter, compared to analyst estimates of $22.36 million. As a group, equities analysts anticipate that Howard Bancorp will post 0.66 earnings per share for the current fiscal year.
In related news, President Robert D. Jr. Kunisch purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The shares were bought at an average price of $17.16 per share, for a total transaction of $85,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard G. Arnold purchased 2,815 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The stock was bought at an average price of $17.50 per share, for a total transaction of $49,262.50. Following the transaction, the director now directly owns 131,352 shares of the company’s stock, valued at approximately $2,298,660. The disclosure for this purchase can be found here. Insiders have bought 13,453 shares of company stock valued at $232,156 in the last three months. Insiders own 10.59% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Patriot Financial Partners GP LP bought a new position in shares of Howard Bancorp in the second quarter worth $29,923,000. BlackRock Inc. increased its position in shares of Howard Bancorp by 62.1% in the second quarter. BlackRock Inc. now owns 648,737 shares of the financial services provider’s stock worth $11,678,000 after purchasing an additional 248,597 shares during the period. Brown Advisory Inc. increased its position in shares of Howard Bancorp by 70.6% in the second quarter. Brown Advisory Inc. now owns 580,556 shares of the financial services provider’s stock worth $10,451,000 after purchasing an additional 240,183 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Howard Bancorp by 56.6% in the second quarter. Dimensional Fund Advisors LP now owns 172,974 shares of the financial services provider’s stock worth $3,114,000 after purchasing an additional 62,498 shares during the period. Finally, Northern Trust Corp increased its position in shares of Howard Bancorp by 35.2% in the second quarter. Northern Trust Corp now owns 130,506 shares of the financial services provider’s stock worth $2,349,000 after purchasing an additional 33,944 shares during the period. Institutional investors own 52.35% of the company’s stock.
Howard Bancorp Company Profile
Howard Bancorp, Inc operates as the bank holding company for Howard Bank that commercial banking, mortgage banking, and consumer finance products and services to businesses, business owners, professionals, and other consumers. The company offers various consumer and business deposit products, including demand deposits, money market accounts, savings accounts, individual retirement accounts, and commercial and retail checking accounts, as well as certificates of deposit.
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