Howard Bancorp (HBMD) Lifted to “Outperform” at Merion Capital Group
Howard Bancorp (NASDAQ:HBMD) was upgraded by equities research analysts at Merion Capital Group from a “neutral” rating to an “outperform” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage presently has a $23.00 price objective on the financial services provider’s stock. Merion Capital Group’s price objective would suggest a potential upside of 21.05% from the company’s current price. The analysts noted that the move was a valuation call.
A number of other analysts have also weighed in on HBMD. 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 research note on Friday, October 20th. Zacks Investment Research upgraded shares of Howard Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $23.00.
Shares of Howard Bancorp (HBMD) opened at $19.00 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.95 and a current ratio of 1.00. Howard Bancorp has a one year low of $16.70 and a one year high of $24.20. The firm has a market cap of $186.59, a P/E ratio of 24.68 and a beta of -0.17.
In related news, Director Robert J. Hartson sold 7,500 shares of the company’s 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 directly owns 159,276 shares in the company, valued at $3,687,239.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 10.59% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its holdings in Howard Bancorp by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 394,407 shares of the financial services provider’s stock valued at $7,592,000 after purchasing an additional 16,266 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in Howard Bancorp in the second quarter valued at approximately $363,000. Schwab Charles Investment Management Inc. acquired a new position in Howard Bancorp in the second quarter valued at approximately $293,000. Bank of New York Mellon Corp acquired a new position in Howard Bancorp in the second quarter valued at approximately $473,000. Finally, Northern Trust Corp acquired a new position in Howard Bancorp in the second quarter valued at approximately $1,566,000. Hedge funds and other institutional investors own 64.56% of the company’s stock.
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About Howard Bancorp
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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