Zacks: Brokerages Set $23.00 Price Target for Howard Bancorp, Inc. (HBMD)

Shares of Howard Bancorp, Inc. (NASDAQ:HBMD) have been assigned an average broker rating score of 1.50 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. Howard Bancorp’s rating score has declined by 50% in the last three months as a result of a number of analysts’ upgrades and downgrades.

Brokers have set a one year consensus price objective of $23.00 for the company and are forecasting that the company will post $0.22 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Howard Bancorp an industry rank of 108 out of 265 based on the ratings given to its competitors.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research cut Howard Bancorp from a “strong-buy” rating to a “sell” rating in a research note on Monday, October 23rd. Raymond James Financial reaffirmed an “outperform” rating and set a $23.00 target price (up from $22.00) on shares of Howard Bancorp in a research report on Friday, October 20th. TheStreet lowered Howard Bancorp from a “b” rating to a “c+” rating in a report on Monday, August 21st. UBS raised Howard Bancorp from an “outperform” rating to a “strong-buy” rating in a 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 objective on the stock in a report on Friday, August 18th.

In other Howard Bancorp news, EVP Steven Poynot sold 1,334 shares of the stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $20.46, for a total transaction of $27,293.64. Following the transaction, the executive vice president now owns 167 shares in the company, valued at $3,416.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.59% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Schwab Charles Investment Management Inc. purchased a new position in shares of Howard Bancorp in the second quarter valued at approximately $293,000. Bank of New York Mellon Corp acquired a new stake in shares of Howard Bancorp in the second quarter valued at $473,000. Biegel & Waller LLC grew its stake in shares of Howard Bancorp by 1.7% in the second quarter. Biegel & Waller LLC now owns 100,784 shares of the financial services provider’s stock valued at $1,940,000 after buying an additional 1,672 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Howard Bancorp in the second quarter valued at $363,000. Finally, Teachers Advisors LLC acquired a new stake in shares of Howard Bancorp in the second quarter valued at $296,000. Institutional investors own 64.56% of the company’s stock.

Howard Bancorp (HBMD) traded down $0.15 on Friday, reaching $21.85. The company had a trading volume of 23,636 shares, compared to its average volume of 15,274. Howard Bancorp has a one year low of $14.15 and a one year high of $22.50. The company has a current ratio of 1.00, a quick ratio of 0.95 and a debt-to-equity ratio of 0.05. The stock has a market cap of $214.46, a PE ratio of 31.67 and a beta of -0.08.

Howard Bancorp (NASDAQ:HBMD) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.06). Howard Bancorp had a return on equity of 5.33% and a net margin of 10.57%. The firm had revenue of $14.86 million during the quarter, compared to analysts’ expectations of $15.20 million. sell-side analysts anticipate that Howard Bancorp will post 0.8 EPS for the current fiscal year.

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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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