Shares of Howard Bancorp, Inc. (NASDAQ:HBMD) have been given a consensus broker rating score of 1.50 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. Howard Bancorp’s rating score has declined by 50% from three months ago as a result of a number of analysts’ upgrades and downgrades.
Brokerages have set a 1-year consensus target price of $23.00 for the company and are forecasting that the company will post $0.22 EPS 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 related companies.
HBMD has been the topic of a number of recent analyst reports. Raymond James Financial upgraded Howard Bancorp from an “outperform” rating to a “strong-buy” rating and set a $22.00 target price on the stock in a research note on Monday, August 21st. Zacks Investment Research lowered Howard Bancorp from a “strong-buy” rating to a “sell” rating in a research note on Monday, October 23rd. UBS lowered Howard Bancorp from a “strong-buy” rating to an “outperform” rating in a research note on Thursday, August 10th. Stephens upgraded Howard Bancorp from an “equal weight” rating to an “overweight” rating and set a $21.00 target price on the stock in a research note on Friday, August 18th. Finally, TheStreet lowered Howard Bancorp from a “b” rating to a “c+” rating in a research note on Monday, August 21st.
Howard Bancorp (NASDAQ:HBMD) last released its quarterly 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 net margin of 10.57% and a return on equity of 5.33%. The company had revenue of $14.86 million for the quarter, compared to analysts’ expectations of $15.20 million. equities analysts forecast that Howard Bancorp will post 0.8 earnings per share for the current fiscal year.
In other Howard Bancorp news, EVP Steven Poynot sold 1,334 shares of the 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 sale, the executive vice president now owns 167 shares in the company, valued at $3,416.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 10.59% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its stake in shares of Howard Bancorp by 4.3% during the second quarter. The Manufacturers Life Insurance Company now owns 394,407 shares of the financial services provider’s stock valued at $7,592,000 after buying an additional 16,266 shares during the period. JPMorgan Chase & Co. purchased a new position in shares of Howard Bancorp during the second quarter valued at $363,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Howard Bancorp during the second quarter valued at $293,000. Bank of New York Mellon Corp purchased a new position in shares of Howard Bancorp during the second quarter valued at $473,000. Finally, TIAA CREF Investment Management LLC purchased a new position in shares of Howard Bancorp during the second quarter valued at $447,000. Institutional investors and hedge funds own 64.56% of the company’s stock.
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About Howard Bancorp
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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