Howard Bancorp Inc (HBMD) Receives Average Rating of “Hold” from Analysts

Howard Bancorp Inc (NASDAQ:HBMD) has been assigned an average recommendation of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $19.25.

Several research firms have recently commented on HBMD. Stephens reiterated a “buy” rating and issued a $18.00 price target on shares of Howard Bancorp in a research report on Wednesday, August 1st. ValuEngine upgraded shares of Howard Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, August 13th. BidaskClub lowered shares of Howard Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, October 13th. Finally, Zacks Investment Research upgraded shares of Howard Bancorp from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Tuesday, November 6th.

HBMD stock opened at $15.48 on Friday. The company has a market capitalization of $302.45 million, a PE ratio of 19.59 and a beta of 0.12. Howard Bancorp has a 12 month low of $13.73 and a 12 month high of $24.20. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43.

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 the consensus estimate of $0.24 by ($0.03). The business had revenue of $22.50 million during the quarter, compared to analyst estimates of $22.36 million. Howard Bancorp had a negative net margin of 2.37% and a positive return on equity of 3.87%. Equities analysts anticipate that Howard Bancorp will post 0.66 EPS for the current fiscal year.

In other news, President Robert D. Jr. Kunisch bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The shares were purchased at an average price of $17.16 per share, for a total transaction of $85,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard G. Arnold bought 2,815 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The shares were purchased at an average price of $17.50 per share, for a total transaction of $49,262.50. Following the transaction, the director now owns 131,352 shares of the company’s stock, valued at approximately $2,298,660. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 10,603 shares of company stock worth $184,837. 10.59% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP acquired a new stake in Howard Bancorp during the second quarter worth approximately $661,000. Bank of New York Mellon Corp boosted its position in Howard Bancorp by 21.5% during the second quarter. Bank of New York Mellon Corp now owns 54,316 shares of the financial services provider’s stock worth $978,000 after acquiring an additional 9,609 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Howard Bancorp by 54.7% during the first quarter. Dimensional Fund Advisors LP now owns 110,476 shares of the financial services provider’s stock worth $2,187,000 after acquiring an additional 39,069 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Howard Bancorp by 60.5% during the second 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 during the last quarter. Finally, BlackRock Inc. boosted its position in Howard Bancorp by 62.1% during the second quarter. BlackRock Inc. now owns 648,737 shares of the financial services provider’s stock worth $11,678,000 after acquiring an additional 248,597 shares during the last quarter. Hedge funds and other institutional investors own 52.30% 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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