Hallmark Financial Services (NASDAQ:HALL) Downgraded to Buy at BidaskClub

Hallmark Financial Services (NASDAQ:HALL) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday, BidAskClub reports.

A number of other brokerages have also commented on HALL. Zacks Investment Research lowered shares of Hallmark Financial Services from a “buy” rating to a “hold” rating in a report on Thursday. ValuEngine upgraded shares of Xylem from a “hold” rating to a “buy” rating in a report on Friday, June 21st. Boenning Scattergood upgraded shares of Hallmark Financial Services from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $13.00 to $14.00 in a report on Thursday, May 9th. Finally, TheStreet lowered shares of Virtusa from a “b-” rating to a “c+” rating in a report on Wednesday, May 29th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $13.00.

Shares of NASDAQ:HALL traded down $0.48 during midday trading on Friday, reaching $14.04. 78,066 shares of the company were exchanged, compared to its average volume of 44,643. Hallmark Financial Services has a fifty-two week low of $9.48 and a fifty-two week high of $15.06. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.49 and a current ratio of 0.49. The stock’s fifty day moving average price is $13.85. The firm has a market cap of $254.45 million, a price-to-earnings ratio of 13.90 and a beta of 0.67.



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

Large investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA increased its stake in Hallmark Financial Services by 547.1% in the 1st 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. SG Americas Securities LLC acquired a new stake in Hallmark Financial Services in the 1st quarter valued at $109,000. O Shaughnessy Asset Management LLC increased its stake in Hallmark Financial Services by 62.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 18,960 shares of the insurance provider’s stock valued at $197,000 after buying an additional 7,261 shares during the last quarter. Rhumbline Advisers increased its stake in Hallmark Financial Services by 35.6% in the 4th quarter. Rhumbline Advisers now owns 21,333 shares of the insurance provider’s stock valued at $228,000 after buying an additional 5,598 shares during the last quarter. Finally, Wedge Capital Management L L P NC increased its stake in Hallmark Financial Services by 30.4% in the 1st quarter. Wedge Capital Management L L P NC now owns 31,169 shares of the insurance provider’s stock valued at $324,000 after buying an additional 7,269 shares during the last quarter. Institutional investors and hedge funds own 64.16% 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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