Howard Bancorp (HBMD) Downgraded by Zacks Investment Research to “Strong Sell”

Zacks Investment Research cut shares of Howard Bancorp (NASDAQ:HBMD) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday, March 13th.

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 upgraded 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 research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $23.00.

Shares of Howard Bancorp stock opened at $19.55 on Tuesday. The firm has a market capitalization of $189.05, a price-to-earnings ratio of 25.00 and a beta of 0.01. Howard Bancorp has a 52-week low of $16.70 and a 52-week high of $24.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.01.

Howard Bancorp (NASDAQ:HBMD) last released its earnings results on Monday, January 22nd. The financial services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The firm had revenue of $14.53 million for the quarter, compared to the consensus estimate of $15.35 million. Howard Bancorp had a return on equity of 5.72% and a net margin of 11.51%. research analysts forecast that Howard Bancorp will post 1.25 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. bought a new stake in Howard Bancorp in the third quarter valued at about $118,000. SG Americas Securities LLC bought a new stake in Howard Bancorp in the fourth quarter valued at about $150,000. New York State Common Retirement Fund bought a new stake in Howard Bancorp in the second quarter valued at about $181,000. OxFORD Asset Management LLP bought a new stake in Howard Bancorp in the third quarter valued at about $235,000. Finally, Teachers Advisors LLC bought a new stake in Howard Bancorp in the second quarter valued at about $296,000. Institutional investors and hedge funds own 64.85% 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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