First Trust Advisors LP bought a new position in shares of Howard Bancorp Inc (NASDAQ:HBMD) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 36,743 shares of the financial services provider’s stock, valued at approximately $661,000. First Trust Advisors LP owned 0.37% of Howard Bancorp at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of HBMD. ELCO Management Co. LLC grew its holdings in shares of Howard Bancorp by 149.4% in the second quarter. ELCO Management Co. LLC now owns 62,983 shares of the financial services provider’s stock valued at $1,134,000 after purchasing an additional 37,727 shares during the period. Hilton Capital Management LLC grew its holdings in shares of Howard Bancorp by 3.8% in the first quarter. Hilton Capital Management LLC now owns 209,535 shares of the financial services provider’s stock valued at $4,149,000 after purchasing an additional 7,720 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Howard Bancorp by 31.2% in the first quarter. The Manufacturers Life Insurance Company now owns 517,588 shares of the financial services provider’s stock valued at $10,248,000 after purchasing an additional 122,999 shares during the period. Mendon Capital Advisors Corp purchased a new stake in shares of Howard Bancorp in the first quarter valued at about $5,657,000. Finally, RMB Capital Management LLC grew its holdings in shares of Howard Bancorp by 417.9% in the first quarter. RMB Capital Management LLC now owns 355,421 shares of the financial services provider’s stock valued at $7,037,000 after purchasing an additional 286,791 shares during the period. Institutional investors and hedge funds own 52.42% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. BidaskClub lowered shares of Howard Bancorp from a “hold” rating to a “sell” rating in a report on Saturday. ValuEngine lowered shares of Howard Bancorp from a “hold” rating to a “sell” rating in a report on Friday. Stephens reaffirmed a “buy” rating and issued a $18.00 target price on shares of Howard Bancorp in a research report on Wednesday, August 1st. Finally, Raymond James cut shares of Howard Bancorp from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 10th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $21.60.
In other Howard Bancorp news, Director Richard G. Arnold purchased 1,493 shares of Howard Bancorp stock in a transaction dated Thursday, September 6th. The shares were acquired at an average price of $17.26 per share, with a total value of $25,769.18. Following the completion of the transaction, the director now owns 130,284 shares of the company’s stock, valued at $2,248,701.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard G. Arnold purchased 2,815 shares of Howard Bancorp stock in a transaction dated Monday, September 24th. The shares were acquired at an average cost of $17.50 per share, for a total transaction of $49,262.50. Following the transaction, the director now directly owns 131,352 shares of the company’s stock, valued at approximately $2,298,660. The disclosure for this purchase can be found here. Insiders acquired 15,953 shares of company stock worth $272,606 in the last ninety days. 23.15% of the stock is currently owned by corporate insiders.
NASDAQ HBMD traded down $0.36 during trading hours on Friday, reaching $15.15. The company had a trading volume of 45,184 shares, compared to its average volume of 44,521. Howard Bancorp Inc 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 current ratio of 1.01 and a quick ratio of 0.98. The stock has a market capitalization of $336.73 million, a P/E ratio of 19.18 and a beta of -0.10.
Howard Bancorp (NASDAQ:HBMD) last posted its earnings results on Wednesday, July 25th. The financial services provider reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.14). Howard Bancorp had a negative net margin of 5.58% and a positive return on equity of 3.55%. The company had revenue of $23.50 million during the quarter, compared to analyst estimates of $23.16 million. As a group, analysts anticipate that Howard Bancorp Inc will post 0.65 EPS for the current year.
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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