Hallmark Financial Services (NASDAQ:HALL) Downgraded by ValuEngine to Hold

ValuEngine cut shares of Hallmark Financial Services (NASDAQ:HALL) from a buy rating to a hold rating in a report released on Thursday, ValuEngine reports.

Other analysts have also issued research reports about the company. Zacks Investment Research raised Hallmark Financial Services from a hold rating to a buy rating and set a $17.00 target price on the stock in a research report on Saturday, July 27th. Boenning Scattergood raised Hallmark Financial Services from a neutral rating to an outperform rating and upped their price objective for the stock from $13.00 to $14.00 in a research report on Thursday, May 9th. TheStreet raised Hallmark Financial Services from a c rating to a b rating in a research report on Wednesday, May 29th. Finally, BidaskClub raised Hallmark Financial Services from a buy rating to a strong-buy rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $14.67.

NASDAQ:HALL traded down $0.47 during trading hours on Thursday, hitting $14.69. 1,139 shares of the stock were exchanged, compared to its average volume of 72,915. Hallmark Financial Services has a 52-week low of $9.48 and a 52-week high of $15.96. The business’s fifty day simple moving average is $14.48. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.31. The firm has a market cap of $274.74 million, a P/E ratio of 14.49 and a beta of 0.63.

Hallmark Financial Services (NASDAQ:HALL) last posted its quarterly earnings data on Wednesday, May 8th. The insurance provider reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.11. Hallmark Financial Services had a return on equity of 7.42% and a net margin of 6.12%. The company had revenue of $104.45 million during the quarter, compared to analyst estimates of $94.18 million. As a group, sell-side analysts expect that Hallmark Financial Services will post 1.35 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its holdings in Hallmark Financial Services by 547.1% in the first quarter. BNP Paribas Arbitrage SA now owns 2,763 shares of the insurance provider’s stock valued at $29,000 after buying an additional 2,336 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in Hallmark Financial Services in the second quarter valued at $102,000. SG Americas Securities LLC purchased a new position in Hallmark Financial Services in the first quarter valued at $109,000. Bailard Inc. purchased a new position in Hallmark Financial Services in the second quarter valued at $185,000. Finally, Sigma Planning Corp purchased a new position in Hallmark Financial Services in the second quarter valued at $218,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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