Howard Bancorp (NASDAQ:HBMD) has earned an average rating of “Buy” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $22.33.
HBMD has been the topic of a number of analyst reports. Zacks Investment Research downgraded Howard Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 13th. Merion Capital Group upgraded Howard Bancorp from a “neutral” rating to an “outperform” rating and set a $23.00 price target on the stock in a report on Friday, February 9th. They noted that the move was a valuation call.
A number of hedge funds have recently made changes to their positions in HBMD. Wells Fargo & Company MN grew its stake in Howard Bancorp by 594.7% during the 3rd quarter. Wells Fargo & Company MN now owns 30,526 shares of the financial services provider’s stock worth $638,000 after buying an additional 26,132 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in Howard Bancorp during the 3rd quarter worth $1,133,000. SG Americas Securities LLC purchased a new position in Howard Bancorp during the 4th quarter worth $150,000. Victory Capital Management Inc. grew its stake in Howard Bancorp by 44.4% during the 4th quarter. Victory Capital Management Inc. now owns 62,535 shares of the financial services provider’s stock worth $1,376,000 after buying an additional 19,235 shares during the last quarter. Finally, BlackRock Inc. grew its stake in Howard Bancorp by 1.0% during the 4th quarter. BlackRock Inc. now owns 403,346 shares of the financial services provider’s stock worth $8,874,000 after buying an additional 3,901 shares during the last quarter. Hedge funds and other institutional investors own 73.27% of the company’s stock.
Shares of Howard Bancorp traded down $1.45, reaching $17.15, on Friday, MarketBeat Ratings reports. The company had a trading volume of 346 shares, compared to its average volume of 79,130. Howard Bancorp has a 52-week low of $16.70 and a 52-week high of $24.20. The company has a market capitalization of $184.26 million, a PE ratio of 21.71 and a beta of -0.05. The company has a current ratio of 1.00, a quick ratio of 0.96 and a debt-to-equity ratio of 0.25.
Howard Bancorp (NASDAQ:HBMD) last announced its quarterly earnings results on Monday, April 30th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.04). Howard Bancorp had a negative net margin of 0.06% and a positive return on equity of 4.50%. The company had revenue of $16.85 million during the quarter, compared to analysts’ expectations of $18.19 million. research analysts predict that Howard Bancorp will post 1.15 EPS for the current year.
About Howard Bancorp
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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