Robert W. Jr. Smith Acquires 1,300 Shares of Howard Bancorp Inc (HBMD) Stock

Howard Bancorp Inc (NASDAQ:HBMD) Director Robert W. Jr. Smith bought 1,300 shares of Howard Bancorp stock in a transaction dated Wednesday, February 14th. The shares were acquired at an average price of $18.43 per share, with a total value of $23,959.00. Following the completion of the purchase, the director now directly owns 35,678 shares in the company, valued at approximately $657,545.54. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Howard Bancorp Inc (NASDAQ:HBMD) opened at $18.75 on Friday. 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 Inc has a one year low of $16.70 and a one year high of $24.20. The company has a market capitalization of $184.14, a P/E ratio of 24.35 and a beta of -0.17.

Howard Bancorp (NASDAQ:HBMD) last issued its earnings results on Monday, January 22nd. The financial services provider reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.01). Howard Bancorp had a return on equity of 5.76% and a net margin of 11.51%. The business had revenue of $14.53 million for the quarter, compared to the consensus estimate of $15.35 million. research analysts anticipate that Howard Bancorp Inc will post 1.25 earnings per share for the current fiscal year.

Several brokerages have recently commented on HBMD. Zacks Investment Research downgraded Howard Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday. 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 note on Friday, February 9th. They noted that the move was a valuation call. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Howard Bancorp presently has a consensus rating of “Buy” and a consensus target price of $23.00.

Several hedge funds and other institutional investors have recently modified their holdings of HBMD. Schwab Charles Investment Management Inc. bought a new position in shares of Howard Bancorp during the 2nd quarter worth approximately $293,000. Bank of New York Mellon Corp bought a new position in shares of Howard Bancorp during the 2nd quarter worth approximately $473,000. JPMorgan Chase & Co. bought a new position in shares of Howard Bancorp during the 2nd quarter worth approximately $363,000. Teachers Advisors LLC bought a new stake in Howard Bancorp in the 2nd quarter valued at $296,000. Finally, TIAA CREF Investment Management LLC bought a new stake in Howard Bancorp in the 2nd quarter valued at $447,000. Institutional investors own 63.23% of the company’s stock.

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Howard Bancorp Company Profile

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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