Bank of New York Mellon Corp lifted its stake in shares of Howard Bancorp Inc (NASDAQ:HBMD) by 82.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,956 shares of the financial services provider’s stock after purchasing an additional 20,362 shares during the period. Bank of New York Mellon Corp’s holdings in Howard Bancorp were worth $939,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of HBMD. New York State Common Retirement Fund acquired a new position in shares of Howard Bancorp during the 2nd quarter worth approximately $181,000. Schwab Charles Investment Management Inc. acquired a new position in shares of Howard Bancorp during the 2nd quarter worth approximately $293,000. Teachers Advisors LLC acquired a new position in shares of Howard Bancorp during the 2nd quarter worth approximately $296,000. California State Teachers Retirement System acquired a new position in shares of Howard Bancorp during the 2nd quarter worth approximately $300,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Howard Bancorp during the 2nd quarter worth approximately $363,000. Institutional investors and hedge funds own 64.56% of the company’s stock.
HBMD has been the topic of several recent research reports. Zacks Investment Research upgraded Howard Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. Raymond James Financial restated an “outperform” rating and set a $23.00 target price (up from $22.00) on shares of Howard Bancorp in a report on Friday, October 20th. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $23.00.
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). The company 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 5.31% and a net margin of 11.53%. research analysts predict that Howard Bancorp Inc will post 0.8 earnings per share for the current year.
In other 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 transaction of $173,625.00. Following the sale, the director now owns 159,276 shares of the company’s stock, valued at approximately $3,687,239.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 10.59% of the stock is currently owned by insiders.
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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