Howard Bancorp (HBMD) Downgraded to “Sell” at ValuEngine

ValuEngine lowered shares of Howard Bancorp (NASDAQ:HBMD) from a hold rating to a sell rating in a report issued on Friday.

A number of other research firms also recently commented on HBMD. Stephens reaffirmed a buy rating and set a $18.00 target price on shares of Howard Bancorp in a report on Wednesday, August 1st. BidaskClub raised Howard Bancorp from a sell rating to a hold rating in a report on Wednesday, September 12th. Raymond James downgraded Howard Bancorp from an outperform rating to a market perform rating in a report on Tuesday, July 10th. Finally, Keefe, Bruyette & Woods started coverage on Howard Bancorp in a report on Thursday, June 14th. They set a market perform rating and a $19.00 target price on the stock. Three analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $21.60.

HBMD traded down $0.36 on Friday, reaching $15.15. The company’s stock had a trading volume of 45,184 shares, compared to its average volume of 44,521. The company has a market capitalization of $336.73 million, a P/E ratio of 19.18 and a beta of -0.10. Howard Bancorp has a 1 year low of $14.70 and a 1 year high of $24.20. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.01.

Howard Bancorp (NASDAQ:HBMD) last issued its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.14). The business had revenue of $23.50 million during the quarter, compared to analysts’ expectations of $23.16 million. Howard Bancorp had a negative net margin of 5.58% and a positive return on equity of 3.55%. As a group, equities research analysts forecast that Howard Bancorp will post 0.65 earnings per share for the current fiscal year.

In other news, Director Richard G. Arnold bought 2,815 shares of Howard Bancorp stock in a transaction on Monday, September 24th. The shares were bought at an average price of $17.50 per share, with a total value of $49,262.50. Following the acquisition, the director now directly owns 131,352 shares in the company, valued at approximately $2,298,660. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard G. Arnold bought 1,493 shares of Howard Bancorp stock in a transaction on Thursday, September 6th. The shares were purchased at an average cost of $17.26 per share, for a total transaction of $25,769.18. Following the acquisition, the director now owns 130,284 shares in the company, valued at $2,248,701.84. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 15,953 shares of company stock worth $272,606. 23.15% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in HBMD. MetLife Investment Advisors LLC acquired a new stake in shares of Howard Bancorp during the 2nd quarter worth approximately $123,000. Rhumbline Advisers acquired a new stake in shares of Howard Bancorp during the 2nd quarter worth approximately $221,000. PNC Financial Services Group Inc. raised its position in shares of Howard Bancorp by 122.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 18,200 shares of the financial services provider’s stock worth $328,000 after purchasing an additional 10,000 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Howard Bancorp by 60.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 24,400 shares of the financial services provider’s stock worth $440,000 after purchasing an additional 9,200 shares during the period. Finally, First Trust Advisors LP acquired a new stake in shares of Howard Bancorp during the 2nd quarter worth approximately $661,000. Institutional investors and hedge funds own 52.42% of the company’s stock.

About Howard Bancorp

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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