Hallmark Financial Services (HALL) Rating Increased to Buy at Zacks Investment Research

Hallmark Financial Services (NASDAQ:HALL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $12.00 price target on the insurance provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 9.49% from the company’s previous close.

According to Zacks, “HALLMARK FINANCIAL and its wholly owned subsidiaries engage in the sale of property and casualty insurance products. Their business primarily involves marketing, underwriting and premium financing of non-standard automobile insurance, as well as claims adjusting and other insurance related services. “

Other equities analysts also recently issued research reports about the company. Raymond James reiterated a “hold” rating and set a $13.00 price objective on shares of Hallmark Financial Services in a research report on Monday, August 13th. ValuEngine upgraded Hallmark Financial Services from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Hallmark Financial Services in a research report on Wednesday, August 8th.

NASDAQ HALL opened at $10.96 on Tuesday. The company has a market capitalization of $198.65 million, a PE ratio of -29.62 and a beta of 0.78. Hallmark Financial Services has a 1-year low of $8.62 and a 1-year high of $11.69. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.33.

Hallmark Financial Services (NASDAQ:HALL) last released its earnings results on Tuesday, August 7th. The insurance provider reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.06. The business had revenue of $96.43 million for the quarter, compared to the consensus estimate of $99.41 million. Hallmark Financial Services had a negative return on equity of 0.69% and a negative net margin of 1.67%. On average, research analysts predict that Hallmark Financial Services will post 0.82 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Intrepid Capital Management Inc. lifted its position in Hallmark Financial Services by 100.4% during the second quarter. Intrepid Capital Management Inc. now owns 979,797 shares of the insurance provider’s stock worth $9,778,000 after buying an additional 490,924 shares in the last quarter. Cove Street Capital LLC lifted its position in Hallmark Financial Services by 0.3% during the second quarter. Cove Street Capital LLC now owns 1,691,533 shares of the insurance provider’s stock worth $16,881,000 after buying an additional 5,210 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Hallmark Financial Services by 2.9% during the second quarter. Russell Investments Group Ltd. now owns 583,380 shares of the insurance provider’s stock worth $5,822,000 after buying an additional 16,600 shares in the last quarter. Boston Partners lifted its position in Hallmark Financial Services by 1.9% during the second quarter. Boston Partners now owns 475,600 shares of the insurance provider’s stock worth $4,746,000 after buying an additional 8,800 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in Hallmark Financial Services by 0.8% during the third quarter. Bank of Montreal Can now owns 593,604 shares of the insurance provider’s stock worth $6,530,000 after buying an additional 4,606 shares in the last quarter. Hedge funds and other institutional investors own 66.08% of the company’s stock.

Hallmark Financial Services Company Profile

Hallmark Financial Services, Inc, through its subsidiaries, underwrites, markets, distributes, and services property/casualty insurance products to businesses and individuals in the United States. The company operates in the Specialty Commercial, Standard Commercial, and Personal segments. The Specialty Commercial segment markets, underwrites, finances, and services commercial lines of insurance products, including commercial automobile, general liability, commercial property, commercial excess liability, and commercial umbrella insurance products.

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