Howard Bancorp (HBMD) Downgraded by BidaskClub to Sell

BidaskClub cut shares of Howard Bancorp (NASDAQ:HBMD) from a hold rating to a sell rating in a research report report published on Tuesday.

Other research analysts have also issued research reports about the company. Stephens reaffirmed a buy rating and set a $18.00 price target on shares of Howard Bancorp in a research report on Wednesday, August 1st. Zacks Investment Research raised Howard Bancorp from a sell rating to a hold rating in a research report on Tuesday, October 30th. ValuEngine raised Howard Bancorp from a sell rating to a hold rating in a research report on Monday, August 13th. Finally, Raymond James lowered Howard Bancorp from an outperform rating to a market perform rating in a research report on Tuesday, July 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $19.25.

HBMD opened at $15.53 on Tuesday. The company has a market cap of $294.49 million, a price-to-earnings ratio of 19.66 and a beta of 0.12. 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 has a one year low of $13.73 and a one year high of $24.20.

Howard Bancorp (NASDAQ:HBMD) last released its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.03). The business had revenue of $22.50 million for the quarter, compared to the consensus estimate of $22.36 million. Howard Bancorp had a negative net margin of 2.37% and a positive return on equity of 4.10%. Equities research analysts forecast that Howard Bancorp will post 0.66 EPS for the current fiscal year.

In other news, Director Richard G. Arnold bought 1,493 shares of the firm’s stock in a transaction dated Thursday, September 6th. The stock was purchased at an average price of $17.26 per share, with a total value of $25,769.18. Following the transaction, the director now owns 130,284 shares of the company’s stock, valued at $2,248,701.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard G. Arnold bought 2,815 shares of the firm’s stock in a transaction dated Monday, September 24th. The stock was purchased at an average cost of $17.50 per share, with a total value of $49,262.50. Following the transaction, the director now directly owns 131,352 shares in the company, valued at approximately $2,298,660. The disclosure for this purchase can be found here. Insiders have acquired a total of 10,603 shares of company stock valued at $184,837 in the last ninety days. 23.15% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. MetLife Investment Advisors LLC bought a new position in shares of Howard Bancorp in the 2nd quarter worth approximately $123,000. Rhumbline Advisers bought a new position in shares of Howard Bancorp in the 2nd quarter worth approximately $221,000. PNC Financial Services Group Inc. raised its position in shares of Howard Bancorp by 122.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 18,200 shares of the financial services provider’s stock worth $328,000 after acquiring an additional 10,000 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Howard Bancorp by 60.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 24,400 shares of the financial services provider’s stock worth $440,000 after acquiring an additional 9,200 shares in the last quarter. Finally, First Trust Advisors LP bought a new position in shares of Howard Bancorp in the 2nd quarter worth approximately $661,000. 52.30% of the stock is owned by hedge funds and other institutional investors.

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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