Steven Poynot Sells 1,334 Shares of Howard Bancorp, Inc. (HBMD) Stock
Howard Bancorp, Inc. (NASDAQ:HBMD) EVP Steven Poynot sold 1,334 shares of the company’s stock in a transaction dated Tuesday, September 19th. The stock was 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 approximately $3,416.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Howard Bancorp, Inc. (NASDAQ HBMD) traded up 1.94% during midday trading on Tuesday, reaching $21.00. 19,435 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $19.10 and a 200-day moving average of $18.89. Howard Bancorp, Inc. has a 1-year low of $12.67 and a 1-year high of $21.15. The company has a market capitalization of $205.95 million, a PE ratio of 27.24 and a beta of -0.02.
Howard Bancorp (NASDAQ:HBMD) last announced its earnings results on Wednesday, July 19th. The financial services provider reported $0.21 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.21. Howard Bancorp had a return on equity of 5.93% and a net margin of 11.01%. The company had revenue of $14.81 million during the quarter, compared to analyst estimates of $13.95 million. Equities analysts expect that Howard Bancorp, Inc. will post $0.87 earnings per share for the current fiscal year.
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HBMD has been the subject of several research analyst reports. TheStreet raised shares of Howard Bancorp from a “c+” rating to a “b+” rating in a report on Thursday, June 1st. Zacks Investment Research raised shares of Howard Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Tuesday, August 22nd. Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of Howard Bancorp in a report on Thursday, August 10th. UBS AG downgraded shares of Howard Bancorp from a “strong-buy” rating to an “outperform” rating in a report on Thursday, August 10th. Finally, Stephens raised shares of Howard Bancorp from an “equal weight” rating to an “overweight” rating and set a $21.00 price objective for the company in a report on Friday, August 18th. Two analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Strong Buy” and a consensus target price of $21.00.
A number of institutional investors have recently bought and sold shares of HBMD. State Street Corp bought a new position in Howard Bancorp in the second quarter valued at about $1,735,000. Northern Trust Corp bought a new position in Howard Bancorp in the second quarter valued at about $1,566,000. Vanguard Group Inc. boosted its holdings in Howard Bancorp by 124.2% in the second quarter. Vanguard Group Inc. now owns 101,078 shares of the financial services provider’s stock valued at $1,946,000 after acquiring an additional 56,004 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Howard Bancorp in the second quarter valued at about $473,000. Finally, TIAA CREF Investment Management LLC bought a new position in Howard Bancorp in the second quarter valued at about $447,000. Institutional investors and hedge funds own 65.03% of the company’s stock.
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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