Zacks: Analysts Expect Hallmark Financial Services, Inc. (NASDAQ:HALL) Will Post Earnings of $0.31 Per Share

Analysts expect Hallmark Financial Services, Inc. (NASDAQ:HALL) to announce earnings per share (EPS) of $0.31 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Hallmark Financial Services’ earnings, with estimates ranging from $0.30 to $0.32. Hallmark Financial Services posted earnings per share of $0.23 during the same quarter last year, which would indicate a positive year over year growth rate of 34.8%. The firm is expected to report its next quarterly earnings report on Wednesday, November 6th.

On average, analysts expect that Hallmark Financial Services will report full year earnings of $1.43 per share for the current fiscal year, with EPS estimates ranging from $1.35 to $1.50. For the next fiscal year, analysts forecast that the firm will report earnings of $1.60 per share. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that cover Hallmark Financial Services.

Hallmark Financial Services (NASDAQ:HALL) last posted its quarterly earnings data on Wednesday, August 7th. The insurance provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07. The company had revenue of $112.29 million for the quarter, compared to the consensus estimate of $106.75 million. Hallmark Financial Services had a net margin of 7.65% and a return on equity of 8.29%.

Several research analysts have recently weighed in on the stock. Raymond James lifted their price target on shares of Hallmark Financial Services from $15.00 to $18.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. BidaskClub upgraded Hallmark Financial Services from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. ValuEngine downgraded Hallmark Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. TheStreet raised Hallmark Financial Services from a “c” rating to a “b” rating in a report on Wednesday, May 29th. Finally, Zacks Investment Research upgraded Hallmark Financial Services from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a research report on Wednesday, August 14th. One analyst has rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $16.67.

HALL traded down $0.68 during trading on Thursday, hitting $17.52. The company’s stock had a trading volume of 79,769 shares, compared to its average volume of 120,985. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.30. Hallmark Financial Services has a one year low of $9.48 and a one year high of $18.43. The firm has a market cap of $320.42 million, a PE ratio of 17.35 and a beta of 0.56. The business’s 50 day simple moving average is $16.36 and its 200-day simple moving average is $13.02.

In other news, CEO Naveen Anand purchased 6,500 shares of the stock in a transaction on Wednesday, August 14th. The shares were acquired at an average price of $16.38 per share, with a total value of $106,470.00. Following the completion of the acquisition, the chief executive officer now directly owns 77,400 shares of the company’s stock, valued at $1,267,812. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 28.60% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of HALL. Cove Street Capital LLC increased its stake in Hallmark Financial Services by 1.4% in the 1st quarter. Cove Street Capital LLC now owns 1,685,981 shares of the insurance provider’s stock worth $17,534,000 after acquiring an additional 23,373 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Hallmark Financial Services by 29.7% in the second quarter. Vanguard Group Inc. now owns 945,386 shares of the insurance provider’s stock valued at $13,453,000 after purchasing an additional 216,369 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Hallmark Financial Services by 14.5% in the second quarter. BlackRock Inc. now owns 942,492 shares of the insurance provider’s stock valued at $13,412,000 after purchasing an additional 119,387 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Hallmark Financial Services by 5.1% in the second quarter. Russell Investments Group Ltd. now owns 794,429 shares of the insurance provider’s stock valued at $11,303,000 after purchasing an additional 38,329 shares in the last quarter. Finally, Bank of Montreal Can increased its position in Hallmark Financial Services by 0.8% in the second quarter. Bank of Montreal Can now owns 608,812 shares of the insurance provider’s stock worth $8,664,000 after purchasing an additional 5,051 shares during the last quarter. Institutional investors and hedge funds own 65.42% 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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Earnings History and Estimates for Hallmark Financial Services (NASDAQ:HALL)

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