Brokerages Set $23.00 Price Target for Howard Bancorp, Inc. (HBMD)
Shares of Howard Bancorp, Inc. (NASDAQ:HBMD) have received a consensus broker rating score of 1.50 (Buy) from the two analysts that cover the company, 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. Howard Bancorp’s rating score has declined by 50% from 90 days ago as a result of a number of analysts’ ratings changes.
Brokers have set a 12-month consensus price objective 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 given Howard Bancorp an industry rank of 109 out of 265 based on the ratings given to its competitors.
HBMD has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Howard Bancorp from a “strong-buy” rating to a “sell” rating in a research report on Monday, October 23rd. Raymond James Financial, Inc. upgraded shares of Howard Bancorp from an “outperform” rating to a “strong-buy” rating and set a $22.00 price objective on the stock in a research report on Monday, August 21st. UBS Group AG upgraded shares of Howard Bancorp from an “outperform” rating to a “strong-buy” rating in a research report on Monday, August 21st. TheStreet cut shares of Howard Bancorp from a “b” rating to a “c+” rating in a research report on Monday, August 21st. Finally, Stephens upgraded shares of Howard Bancorp from an “equal weight” rating to an “overweight” rating and set a $21.00 price objective on the stock in a research report on Friday, August 18th.
Shares of Howard Bancorp (NASDAQ HBMD) traded up $0.25 on Thursday, reaching $20.75. 19,800 shares of the company traded hands, compared to its average volume of 27,752. Howard Bancorp has a 12 month low of $14.15 and a 12 month high of $22.30. The company has a market capitalization of $201.21, a PE ratio of 29.71 and a beta of -0.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.00 and a quick ratio of 0.95.
Howard Bancorp (NASDAQ:HBMD) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.17 earnings per share for the quarter, missing the Zacks’ 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 firm had revenue of $14.86 million for the quarter, compared to the consensus estimate of $15.20 million. analysts anticipate that Howard Bancorp will post 0.8 earnings per share for the current year.
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In other news, EVP Steven Poynot sold 1,334 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $20.46, for a total transaction of $27,293.64. Following the completion of the sale, the executive vice president now directly owns 167 shares of the company’s stock, valued at $3,416.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.59% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Macquarie Group Ltd. purchased a new stake in shares of Howard Bancorp during the third quarter valued at $118,000. New York State Common Retirement Fund purchased a new stake in shares of Howard Bancorp during the second quarter valued at $181,000. OxFORD Asset Management LLP purchased a new stake in shares of Howard Bancorp during the third quarter valued at $235,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of Howard Bancorp during the second quarter valued at $293,000. Finally, Teachers Advisors LLC purchased a new stake in Howard Bancorp in the second quarter worth about $296,000. 65.34% of the stock is owned by hedge funds and other institutional investors.
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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