Howard Bancorp (NASDAQ:HBMD) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Thursday, May 3rd.
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. “
Separately, Merion Capital Group raised shares of Howard Bancorp from a “neutral” rating to an “outperform” rating and set a $23.00 target price for the company in a research report on Friday, February 9th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $23.00.
Howard Bancorp (NASDAQ:HBMD) last posted its quarterly earnings results on Monday, April 30th. The financial services provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.04). Howard Bancorp had a negative net margin of 0.06% and a positive return on equity of 4.50%. The company had revenue of $16.85 million during the quarter, compared to the consensus estimate of $18.19 million. research analysts predict that Howard Bancorp will post 1.15 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in HBMD. JPMorgan Chase & Co. boosted its stake in Howard Bancorp by 23.5% in the third quarter. JPMorgan Chase & Co. now owns 23,309 shares of the financial services provider’s stock valued at $484,000 after acquiring an additional 4,436 shares during the last quarter. Hilton Capital Management LLC boosted its stake in Howard Bancorp by 4.9% in the fourth quarter. Hilton Capital Management LLC now owns 201,815 shares of the financial services provider’s stock valued at $4,440,000 after acquiring an additional 9,350 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Howard Bancorp by 44.4% in the fourth quarter. Victory Capital Management Inc. now owns 62,535 shares of the financial services provider’s stock valued at $1,376,000 after acquiring an additional 19,235 shares during the last quarter. SG Americas Securities LLC purchased a new position in Howard Bancorp in the fourth quarter valued at about $150,000. Finally, EAM Investors LLC purchased a new position in Howard Bancorp in the fourth quarter valued at about $607,000. Institutional investors and hedge funds own 73.27% of the company’s stock.
Howard Bancorp Company Profile
Howard Bancorp, Inc operates as the bank holding company for Howard Bank that commercial banking, mortgage banking, and consumer finance products and services to businesses, business owners, professionals, and other consumers. The company offers various consumer and business deposit products, including demand deposits, money market accounts, savings accounts, individual retirement accounts, and commercial and retail checking accounts, as well as certificates of deposit.
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