Zacks: Brokerages Set $23.00 Target Price for Howard Bancorp, Inc. (HBMD)
Howard Bancorp, Inc. (NASDAQ:HBMD) has been given a consensus broker rating score of 1.50 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a buy rating and one has assigned a strong buy rating to the company. Howard Bancorp’s rating score has declined by 50% in the last 90 days as a result of various analysts’ upgrades and downgrades.
Brokers have set a 12 month consensus price target of $23.00 for the company and are anticipating that the company will post $0.22 EPS for the current quarter, according to Zacks. Zacks has also assigned Howard Bancorp an industry rank of 114 out of 265 based on the ratings given to its competitors.
HBMD has been the subject of a number of research reports. Zacks Investment Research raised Howard Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Tuesday, August 22nd. Raymond James Financial raised Howard Bancorp from an “outperform” rating to a “strong-buy” rating and set a $22.00 price objective for the company in a research note on Monday, August 21st. UBS upgraded Howard Bancorp from an “outperform” rating to a “strong-buy” rating in a report on Monday, August 21st. TheStreet lowered Howard Bancorp from a “b” rating to a “c+” rating in a report on Monday, August 21st. Finally, Stephens upgraded Howard Bancorp from an “equal weight” rating to an “overweight” rating and set a $21.00 target price on the stock in a report on Friday, August 18th.
Shares of Howard Bancorp (NASDAQ HBMD) opened at $23.10 on Thursday. Howard Bancorp has a one year low of $14.15 and a one year high of $23.50. The company has a market capitalization of $224.27, a P/E ratio of 33.12 and a beta of -0.07. 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 (NASDAQ:HBMD) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.17 EPS 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 during the quarter, compared to analyst estimates of $15.20 million. analysts forecast that Howard Bancorp will post 0.8 EPS for the current fiscal year.
In other news, EVP Steven Poynot sold 1,334 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $20.46, for a total value of $27,293.64. Following the transaction, the executive vice president now owns 167 shares in the company, valued at $3,416.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.59% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Macquarie Group Ltd. bought a new position in shares of Howard Bancorp in the third quarter valued at approximately $118,000. New York State Common Retirement Fund bought a new position in shares of Howard Bancorp in the second quarter valued at approximately $181,000. OxFORD Asset Management LLP bought a new position in shares of Howard Bancorp in the third quarter valued at approximately $235,000. Schwab Charles Investment Management Inc. bought a new position in shares of Howard Bancorp in the second quarter valued at approximately $293,000. Finally, Teachers Advisors LLC bought a new position in shares of Howard Bancorp in the second quarter valued at approximately $296,000. 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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