Bank of New York Mellon Corp Acquires Shares of 24,594 Howard Bancorp, Inc. (HBMD)
Bank of New York Mellon Corp acquired a new position in Howard Bancorp, Inc. (NASDAQ:HBMD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 24,594 shares of the financial services provider’s stock, valued at approximately $473,000. Bank of New York Mellon Corp owned about 0.25% of Howard Bancorp at the end of the most recent quarter.
Separately, Schwab Charles Investment Management Inc. purchased a new position in shares of Howard Bancorp in the second quarter worth approximately $293,000. Institutional investors and hedge funds own 65.01% of the company’s stock.
In other Howard Bancorp news, EVP Steven Poynot sold 1,334 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $20.46, for a total value of $27,293.64. Following the sale, the executive vice president now owns 167 shares in the company, valued at approximately $3,416.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 10.59% of the company’s stock.
A number of equities analysts recently issued reports on HBMD shares. Raymond James Financial, Inc. raised shares of Howard Bancorp from an “outperform” rating to a “strong-buy” rating and set a $22.00 price objective on the stock in a report on Monday, August 21st. Zacks Investment Research downgraded shares of Howard Bancorp from a “strong-buy” rating to a “sell” rating in a report on Monday, October 23rd. UBS AG downgraded shares of Howard Bancorp from a “strong-buy” rating to an “outperform” rating in a report on Thursday, August 10th. Stephens raised shares of Howard Bancorp from an “equal weight” rating to an “overweight” rating and set a $21.00 price objective on the stock in a report on Friday, August 18th. Finally, TheStreet downgraded shares of Howard Bancorp from a “b” rating to a “c+” rating in a report on Monday, August 21st. One investment analyst has rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $21.33.
Howard Bancorp, Inc. (NASDAQ:HBMD) opened at 20.10 on Tuesday. Howard Bancorp, Inc. has a one year low of $13.40 and a one year high of $22.30. The firm’s 50-day moving average is $21.10 and its 200 day moving average is $19.58. The stock has a market cap of $197.12 million, a P/E ratio of 26.07 and a beta of -0.01.
Howard Bancorp (NASDAQ:HBMD) last released its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.06). Howard Bancorp had a return on equity of 5.53% and a net margin of 10.57%. The company had revenue of $14.86 million during the quarter, compared to analysts’ expectations of $15.20 million. On average, analysts anticipate that Howard Bancorp, Inc. will post $0.80 EPS for the current fiscal year.
Howard Bancorp 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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