Howard Bancorp, Inc. (NASDAQ:HBMD) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “sell” rating in a report issued on Monday.

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. “

A number of other equities analysts also recently issued reports on the company. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $23.00 price target (up from $22.00) on shares of Howard Bancorp in a research report on Friday. TheStreet downgraded Howard Bancorp from a “b” rating to a “c+” rating in a research report on Monday, August 21st. UBS AG raised Howard Bancorp from an “outperform” rating to a “strong-buy” rating in a research report on Monday, August 21st. Finally, Stephens raised Howard Bancorp from an “equal weight” rating to an “overweight” rating and set a $21.00 price target on the stock in a research report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $21.33.

Howard Bancorp (HBMD) traded down 1.63% during mid-day trading on Monday, hitting $21.15. The company’s stock had a trading volume of 37,675 shares. The firm’s 50-day moving average is $20.95 and its 200-day moving average is $19.49. The company has a market cap of $207.42 million, a P/E ratio of 27.43 and a beta of -0.01. Howard Bancorp has a 12-month low of $13.35 and a 12-month high of $22.30.

Howard Bancorp (NASDAQ:HBMD) last issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The business had revenue of $14.86 million for the quarter, compared to analyst estimates of $15.20 million. Howard Bancorp had a return on equity of 5.53% and a net margin of 10.57%. Analysts predict that Howard Bancorp will post $0.82 EPS for the current fiscal year.

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In related news, EVP Steven Poynot sold 1,334 shares of the company’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $20.46, for a total value of $27,293.64. Following the transaction, the executive vice president now directly owns 167 shares of the company’s stock, valued at approximately $3,416.82. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 10.59% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund acquired a new position in shares of Howard Bancorp in the 2nd quarter valued at $181,000. Schwab Charles Investment Management Inc. acquired a new position in shares of Howard Bancorp in the 2nd quarter valued at $293,000. Teachers Advisors LLC acquired a new position in shares of Howard Bancorp in the 2nd quarter valued at $296,000. California State Teachers Retirement System acquired a new position in shares of Howard Bancorp in the 2nd quarter valued at $300,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Howard Bancorp in the 2nd quarter valued at $363,000. 65.03% of the stock is currently owned by hedge funds and other institutional investors.

Howard Bancorp Company Profile

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.

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