Howard Bancorp (HBMD) Stock Rating Upgraded by Zacks Investment Research

Howard Bancorp (NASDAQ:HBMD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.

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. “

Several other equities research analysts also recently issued reports on HBMD. ValuEngine downgraded Howard Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 31st. BidaskClub downgraded Howard Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $19.25.

Shares of Howard Bancorp stock opened at $13.33 on Thursday. Howard Bancorp has a 1 year low of $12.60 and a 1 year high of $20.80. The firm has a market cap of $249.34 million, a price-to-earnings ratio of 20.51 and a beta of 0.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.02 and a quick ratio of 1.00.

Howard Bancorp (NASDAQ:HBMD) last announced its quarterly earnings results on Wednesday, January 30th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. Howard Bancorp had a positive return on equity of 4.04% and a negative net margin of 3.90%. The business had revenue of $21.63 million during the quarter, compared to the consensus estimate of $22.39 million. On average, sell-side analysts forecast that Howard Bancorp will post 0.97 EPS for the current fiscal year.

In other news, Director Richard G. Arnold bought 1,910 shares of the company’s stock in a transaction dated Friday, February 1st. The stock was bought at an average price of $13.16 per share, with a total value of $25,135.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought 2,682 shares of company stock valued at $35,071 in the last three months. Insiders own 23.15% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Strategic Wealth Management Group LLC acquired a new position in Howard Bancorp in the fourth quarter valued at about $158,000. Rhumbline Advisers raised its stake in Howard Bancorp by 47.4% in the fourth quarter. Rhumbline Advisers now owns 17,892 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 5,755 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Howard Bancorp by 60.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 24,400 shares of the financial services provider’s stock valued at $440,000 after purchasing an additional 9,200 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Howard Bancorp by 21.5% in the second quarter. Bank of New York Mellon Corp now owns 54,316 shares of the financial services provider’s stock valued at $978,000 after purchasing an additional 9,609 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Howard Bancorp by 6.0% in the third quarter. Victory Capital Management Inc. now owns 72,700 shares of the financial services provider’s stock valued at $1,287,000 after purchasing an additional 4,100 shares in the last quarter. 53.18% of the stock is owned by institutional investors.

Howard Bancorp Company Profile

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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