Howard Bancorp Inc (NASDAQ:HBMD) has been given a consensus broker rating score of 1.50 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company.
Brokerages have set a 12 month consensus price objective of $23.75 for the company and are anticipating that the company will post $0.22 EPS for the current quarter, according to Zacks. Zacks has also given Howard Bancorp an industry rank of 17 out of 265 based on the ratings given to its competitors.
A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Howard Bancorp from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Wednesday, January 10th. Raymond James Financial restated an “outperform” rating and issued a $23.00 price target (up from $22.00) on shares of Howard Bancorp in a report on Friday, October 20th.
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 analysts’ consensus estimates of $0.23 by ($0.06). Howard Bancorp had a net margin of 10.57% and a return on equity of 5.33%. The firm had revenue of $14.86 million during the quarter, compared to the consensus estimate of $15.20 million. sell-side analysts predict that Howard Bancorp will post 0.8 earnings per share for the current fiscal year.
In related news, Director Robert J. Hartson sold 7,500 shares of Howard Bancorp stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $23.15, for a total value of $173,625.00. Following the completion of the sale, the director now directly owns 159,276 shares in the company, valued at approximately $3,687,239.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.59% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. acquired a new stake in Howard Bancorp in the 3rd quarter worth approximately $118,000. New York State Common Retirement Fund acquired a new stake in Howard Bancorp in the 2nd quarter worth approximately $181,000. OxFORD Asset Management LLP acquired a new stake in Howard Bancorp in the 3rd quarter worth approximately $235,000. Schwab Charles Investment Management Inc. acquired a new stake in Howard Bancorp in the 2nd quarter worth approximately $293,000. Finally, Teachers Advisors LLC acquired a new stake in Howard Bancorp in the 2nd quarter worth approximately $296,000. Institutional investors 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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