Howard Bancorp, Inc. (HBMD) Lifted to Strong-Buy at UBS AG
Howard Bancorp, Inc. (NASDAQ:HBMD) was upgraded by stock analysts at UBS AG from an “outperform” rating to a “strong-buy” rating in a report issued on Monday.
HBMD has been the subject of a number of other reports. TheStreet upgraded shares of Howard Bancorp from a “c+” rating to a “b+” rating in a report on Thursday, June 1st. Raymond James Financial, Inc. restated an “outperform” rating on shares of Howard Bancorp in a report on Thursday, August 10th. Finally, Stephens upgraded shares of Howard Bancorp from an “equal weight” rating to an “overweight” rating and set a $21.00 price objective for the company in a report on Friday.
Howard Bancorp (HBMD) opened at 18.05 on Monday. The firm has a market capitalization of $177.02 million, a P/E ratio of 23.41 and a beta of -0.03. Howard Bancorp has a 1-year low of $12.48 and a 1-year high of $20.70. The company’s 50-day moving average price is $19.03 and its 200-day moving average price is $18.67.
Howard Bancorp (NASDAQ:HBMD) last released its earnings results on Wednesday, July 19th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.21. Howard Bancorp had a net margin of 11.01% and a return on equity of 5.93%. The firm had revenue of $14.81 million during the quarter, compared to analyst estimates of $13.95 million. Equities research analysts expect that Howard Bancorp will post $0.87 earnings per share for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in HBMD. California State Teachers Retirement System purchased a new position in shares of Howard Bancorp during the second quarter worth $300,000. The Manufacturers Life Insurance Company raised its position in shares of Howard Bancorp by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 394,407 shares of the financial services provider’s stock worth $7,592,000 after buying an additional 16,266 shares during the last quarter. State Street Corp purchased a new position in shares of Howard Bancorp during the second quarter worth $1,735,000. Vanguard Group Inc. raised its position in shares of Howard Bancorp by 124.2% in the second quarter. Vanguard Group Inc. now owns 101,078 shares of the financial services provider’s stock worth $1,946,000 after buying an additional 56,004 shares during the last quarter. Finally, Northern Trust Corp purchased a new position in shares of Howard Bancorp during the second quarter worth $1,566,000. Institutional investors own 59.67% of the company’s stock.
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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