Howard Bancorp (NASDAQ:HBMD) Upgraded to Hold at Zacks Investment Research

Howard Bancorp (NASDAQ:HBMD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

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. “

Several other equities analysts have also commented on the stock. BidaskClub lowered shares of Howard Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. TheStreet lowered shares of Howard Bancorp from a “b-” rating to a “c+” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Howard Bancorp currently has an average rating of “Hold” and an average target price of $16.00.

Shares of HBMD stock opened at $14.20 on Wednesday. The firm’s 50 day moving average price is $14.80 and its 200-day moving average price is $14.19. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.97 and a current ratio of 0.99. Howard Bancorp has a one year low of $12.60 and a one year high of $19.52. The firm has a market cap of $274.39 million, a P/E ratio of 21.85 and a beta of 0.31.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Howard Bancorp by 1.7% during the 4th quarter. BlackRock Inc. now owns 667,818 shares of the financial services provider’s stock valued at $9,551,000 after purchasing an additional 11,475 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Howard Bancorp by 1.9% during the 4th quarter. Bank of New York Mellon Corp now owns 44,224 shares of the financial services provider’s stock valued at $632,000 after purchasing an additional 829 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Howard Bancorp by 1.3% during the 4th quarter. Northern Trust Corp now owns 136,069 shares of the financial services provider’s stock valued at $1,945,000 after purchasing an additional 1,726 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Howard Bancorp by 14.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 265,017 shares of the financial services provider’s stock valued at $3,790,000 after purchasing an additional 34,140 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Howard Bancorp by 13.5% during the 4th quarter. Geode Capital Management LLC now owns 115,090 shares of the financial services provider’s stock valued at $1,645,000 after purchasing an additional 13,727 shares during the last quarter. 52.62% of the stock is currently owned by hedge funds and other institutional investors.

Howard Bancorp Company Profile

Howard Bancorp, Inc operates as the bank holding company for Howard Bank that provides 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, money market, savings, individual retirement, and commercial and retail checking accounts, as well as certificates of deposit.

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