Howard Bancorp (NASDAQ:HBMD) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of Howard Bancorp (NASDAQ:HBMD) from a hold rating to a buy rating in a research note published on Saturday, June 29th, BidAskClub reports.

Separately, Zacks Investment Research downgraded shares of W. R. Grace & Co from a buy rating to a hold rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. Howard Bancorp currently has a consensus rating of Hold and a consensus price target of $16.00.

NASDAQ:HBMD traded down $0.02 during mid-day trading on Friday, reaching $14.46. 15,363 shares of the company were exchanged, compared to its average volume of 20,311. The stock has a market capitalization of $275.62 million, a PE ratio of 22.25 and a beta of 0.30. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.97 and a current ratio of 0.99. Howard Bancorp has a 12 month low of $12.60 and a 12 month high of $19.52. The firm’s fifty day moving average is $14.36.

Howard Bancorp (NASDAQ:HBMD) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. Howard Bancorp had a net margin of 5.73% and a return on equity of 4.81%. The business had revenue of $22.01 million for the quarter, compared to analyst estimates of $21.40 million. On average, equities research analysts predict that Howard Bancorp will post 0.99 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of HBMD. BNP Paribas Arbitrage SA increased its holdings in Howard Bancorp by 779.0% during the first quarter. BNP Paribas Arbitrage SA now owns 2,769 shares of the financial services provider’s stock worth $41,000 after buying an additional 2,454 shares during the last quarter. Bank of America Corp DE boosted its position in Howard Bancorp by 31.9% during the fourth quarter. Bank of America Corp DE now owns 13,375 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 3,235 shares during the period. Rhumbline Advisers boosted its position in Howard Bancorp by 47.4% during the fourth quarter. Rhumbline Advisers now owns 17,892 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 5,755 shares during the period. Bank of New York Mellon Corp boosted its position in Howard Bancorp by 1.9% during the fourth quarter. Bank of New York Mellon Corp now owns 44,224 shares of the financial services provider’s stock worth $632,000 after purchasing an additional 829 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Howard Bancorp by 12.0% during the first quarter. Victory Capital Management Inc. now owns 81,435 shares of the financial services provider’s stock worth $1,206,000 after purchasing an additional 8,735 shares during the period. Institutional investors and hedge funds own 52.80% 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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