Howard Bancorp (HBMD) Hits New 12-Month Low at $15.51
Shares of Howard Bancorp Inc (NASDAQ:HBMD) reached a new 52-week low on Thursday . The stock traded as low as $15.51 and last traded at $15.70, with a volume of 2028 shares traded. The stock had previously closed at $16.20.
Several analysts have recently weighed in on HBMD shares. Raymond James downgraded Howard Bancorp from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 10th. Stephens reiterated a “buy” rating and set a $18.00 target price on shares of Howard Bancorp in a research report on Wednesday, August 1st. ValuEngine downgraded Howard Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Finally, BidaskClub upgraded Howard Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $21.60.
The stock has a market capitalization of $336.73 million, a price-to-earnings ratio of 19.18 and a beta of -0.10. The company has a quick ratio of 0.98, a current ratio of 1.01 and a debt-to-equity ratio of 0.44.
In other news, Director Robert W. Jr. Smith purchased 2,500 shares of the business’s stock in a transaction dated Tuesday, July 31st. The shares were purchased at an average price of $16.18 per share, for a total transaction of $40,450.00. Following the completion of the purchase, the director now owns 38,178 shares in the company, valued at approximately $617,720.04. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director John J. Keenan purchased 2,000 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were purchased at an average price of $16.66 per share, for a total transaction of $33,320.00. Following the purchase, the director now owns 9,645 shares of the company’s stock, valued at approximately $160,685.70. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 15,953 shares of company stock worth $272,606. Insiders own 23.15% of the company’s stock.
Several institutional investors have recently made changes to their positions in HBMD. MetLife Investment Advisors LLC purchased a new position in shares of Howard Bancorp during the second quarter valued at $123,000. Rhumbline Advisers purchased a new position in shares of Howard Bancorp during the second quarter valued at $221,000. PNC Financial Services Group Inc. increased its stake in shares of Howard Bancorp by 122.0% during the second quarter. PNC Financial Services Group Inc. now owns 18,200 shares of the financial services provider’s stock valued at $328,000 after buying an additional 10,000 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Howard Bancorp by 60.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 24,400 shares of the financial services provider’s stock valued at $440,000 after buying an additional 9,200 shares during the period. Finally, First Trust Advisors LP purchased a new position in Howard Bancorp in the second quarter valued at about $661,000. Hedge funds and other institutional investors own 52.42% of the company’s stock.
Howard Bancorp Company Profile (NASDAQ:HBMD)
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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