Howard Bancorp (NASDAQ:HBMD) Research Coverage Started at Stephens

Equities researchers at Stephens assumed coverage on shares of Howard Bancorp (NASDAQ:HBMD) in a note issued to investors on Monday, January 6th, The Fly reports. The brokerage set an “equal weight” rating and a $17.50 price target on the financial services provider’s stock. Stephens’ target price suggests a potential upside of 2.34% from the stock’s current price.

HBMD has been the topic of a number of other research reports. ValuEngine raised shares of Howard Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, December 26th. TheStreet raised shares of Howard Bancorp from a “c+” rating to a “b” rating in a research note on Friday, October 25th. Zacks Investment Research downgraded shares of Howard Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, December 25th. Finally, BidaskClub downgraded shares of Howard Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $18.25.

Shares of HBMD traded up $0.04 on Monday, hitting $17.10. 237 shares of the stock traded hands, compared to its average volume of 21,328. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $324.77 million, a P/E ratio of 26.67 and a beta of 0.35. The stock’s 50 day moving average is $16.93 and its two-hundred day moving average is $15.94. Howard Bancorp has a 1 year low of $12.60 and a 1 year high of $19.20.

Howard Bancorp (NASDAQ:HBMD) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.02. The company had revenue of $22.25 million for the quarter, compared to the consensus estimate of $23.14 million. Howard Bancorp had a net margin of 10.08% and a return on equity of 6.04%. Research analysts forecast that Howard Bancorp will post 0.99 EPS for the current year.

In related news, EVP Steven Poynot sold 2,500 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $16.97, for a total transaction of $42,425.00. Over the last ninety days, insiders have purchased 1,071 shares of company stock valued at $14,919. Company insiders own 23.17% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Rhumbline Advisers lifted its position in shares of Howard Bancorp by 8.9% in the 3rd quarter. Rhumbline Advisers now owns 20,120 shares of the financial services provider’s stock worth $336,000 after buying an additional 1,638 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Howard Bancorp by 6.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 31,740 shares of the financial services provider’s stock worth $482,000 after buying an additional 2,042 shares in the last quarter. Northern Trust Corp raised its position in shares of Howard Bancorp by 2.2% during the 2nd quarter. Northern Trust Corp now owns 144,882 shares of the financial services provider’s stock worth $2,198,000 after buying an additional 3,115 shares in the last quarter. State Street Corp raised its position in shares of Howard Bancorp by 1.4% during the 3rd quarter. State Street Corp now owns 221,539 shares of the financial services provider’s stock worth $3,697,000 after buying an additional 3,119 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Howard Bancorp by 9.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 47,587 shares of the financial services provider’s stock worth $722,000 after buying an additional 4,226 shares in the last quarter. Institutional investors own 53.00% of the company’s stock.

About Howard Bancorp

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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