BidaskClub Upgrades Howard Bancorp (HBMD) to “Hold”

BidaskClub upgraded shares of Howard Bancorp (NASDAQ:HBMD) from a sell rating to a hold rating in a research report released on Saturday morning.

Several other equities analysts also recently commented on HBMD. Zacks Investment Research downgraded shares of Howard Bancorp from a buy rating to a hold rating in a research note on Friday, November 16th. ValuEngine raised shares of Howard Bancorp from a sell rating to a hold rating in a research note on Friday, November 16th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Howard Bancorp presently has a consensus rating of Hold and a consensus price target of $19.25.

Shares of NASDAQ:HBMD opened at $15.90 on Friday. The stock has a market cap of $302.64 million, a PE ratio of 24.09 and a beta of 0.12. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.43. Howard Bancorp has a 12 month low of $13.73 and a 12 month high of $24.20.

Howard Bancorp (NASDAQ:HBMD) last issued its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.03). The firm had revenue of $22.50 million for the quarter, compared to the consensus estimate of $22.36 million. Howard Bancorp had a negative net margin of 2.37% and a positive return on equity of 3.87%. On average, equities analysts anticipate that Howard Bancorp will post 0.66 earnings per share for the current year.

In other news, Director Richard G. Arnold acquired 2,815 shares of the stock in a transaction dated Monday, September 24th. The stock was purchased at an average cost of $17.50 per share, with a total value of $49,262.50. Following the completion of the purchase, the director now owns 131,352 shares in the company, valued at approximately $2,298,660. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard G. Arnold acquired 1,493 shares of the stock in a transaction dated Thursday, September 6th. The shares were purchased at an average cost of $17.26 per share, with a total value of $25,769.18. Following the completion of the purchase, the director now owns 130,284 shares of the company’s stock, valued at approximately $2,248,701.84. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 5,603 shares of company stock valued at $99,037. Insiders own 10.59% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in HBMD. MetLife Investment Advisors LLC purchased a new position in shares of Howard Bancorp during the second quarter valued at about $123,000. Rhumbline Advisers purchased a new position in shares of Howard Bancorp during the second quarter valued at about $221,000. PNC Financial Services Group Inc. increased its position in shares of Howard Bancorp by 122.0% during the second quarter. PNC Financial Services Group Inc. now owns 18,200 shares of the financial services provider’s stock valued at $328,000 after buying an additional 10,000 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Howard Bancorp by 60.5% during 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 buying an additional 9,200 shares during the period. Finally, First Trust Advisors LP purchased a new position in shares of Howard Bancorp during the second quarter valued at about $661,000. Institutional investors own 52.33% of the company’s stock.

About Howard Bancorp

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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