Hallmark Financial Services (NASDAQ:HALL) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Hallmark Financial Services (NASDAQ:HALL) from a hold rating to a buy rating in a report released on Saturday, Zacks.com reports. The firm currently has $17.00 price objective on the insurance provider’s stock.

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. “

HALL has been the topic of several other research reports. ValuEngine upgraded Xylem from a hold rating to a buy rating in a research note on Friday, June 21st. BidaskClub downgraded Westport Fuel Systems from a buy rating to a hold rating in a research note on Friday, July 19th. Boenning Scattergood upgraded Hallmark Financial Services from a neutral rating to an outperform rating and upped their price objective for the company from $13.00 to $14.00 in a research note on Thursday, May 9th. Finally, TheStreet downgraded Virtusa from a b- rating to a c+ rating in a research note on Wednesday, May 29th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Hallmark Financial Services presently has an average rating of Buy and a consensus price target of $14.67.

Hallmark Financial Services stock opened at $15.27 on Friday. Hallmark Financial Services has a 12 month low of $9.48 and a 12 month high of $15.31. 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 50 day moving average price of $14.33. The stock has a market capitalization of $274.02 million, a P/E ratio of 15.12 and a beta of 0.67.

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, beating the 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 business had revenue of $104.45 million for the quarter, compared to the consensus estimate of $94.18 million. Equities analysts anticipate that Hallmark Financial Services will post 1.35 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of HALL. BNP Paribas Arbitrage SA raised its holdings in Hallmark Financial Services by 547.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,763 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 2,336 shares during the period. SG Americas Securities LLC bought a new stake in Hallmark Financial Services during the 1st quarter valued at $109,000. Bailard Inc. bought a new stake in Hallmark Financial Services during the 2nd quarter valued at $185,000. O Shaughnessy Asset Management LLC raised its holdings in Hallmark Financial Services by 62.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 18,960 shares of the insurance provider’s stock valued at $197,000 after acquiring an additional 7,261 shares during the period. Finally, Wedge Capital Management L L P NC raised its holdings in Hallmark Financial Services by 30.4% during 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 acquiring an additional 7,269 shares during the period. 64.21% of the stock is currently owned by institutional investors and hedge funds.

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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