Howard Bancorp (NASDAQ:HBMD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

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. “

A number of other analysts have also commented on the company. Merion Capital Group raised Howard Bancorp from a “neutral” rating to an “outperform” rating and set a $23.00 price target for the company in a research note on Friday, February 9th. They noted that the move was a valuation call. Raymond James Financial reissued an “outperform” rating and set a $23.00 price objective (up previously from $22.00) on shares of Howard Bancorp in a research report on Friday, October 20th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $23.00.

Shares of Howard Bancorp (NASDAQ HBMD) opened at $18.15 on Wednesday. Howard Bancorp has a 52 week low of $16.70 and a 52 week high of $24.20. The company has a market capitalization of $186.59, a price-to-earnings ratio of 24.20 and a beta of -0.17. The company has a quick ratio of 0.95, a current ratio of 1.00 and a debt-to-equity ratio of 0.05.

Howard Bancorp (NASDAQ:HBMD) last announced its quarterly earnings results on Monday, January 22nd. The financial services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Howard Bancorp had a return on equity of 5.76% and a net margin of 11.51%. The business had revenue of $14.53 million during the quarter, compared to analysts’ expectations of $15.35 million. analysts expect that Howard Bancorp will post 1.29 EPS for the current fiscal year.

In other Howard Bancorp news, Director Robert J. Hartson sold 7,500 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $23.15, for a total transaction of $173,625.00. Following the completion of the transaction, the director now owns 159,276 shares of the company’s stock, valued at $3,687,239.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.59% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Macquarie Group Ltd. purchased a new position in Howard Bancorp during the third quarter valued at $118,000. SG Americas Securities LLC purchased a new position in Howard Bancorp during the fourth quarter valued at $150,000. New York State Common Retirement Fund purchased a new position in Howard Bancorp during the second quarter valued at $181,000. OxFORD Asset Management LLP purchased a new position in Howard Bancorp during the third quarter valued at $235,000. Finally, Schwab Charles Investment Management Inc. purchased a new position in Howard Bancorp during the second quarter valued at $293,000. 63.23% of the stock is owned by institutional investors and hedge funds.

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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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