Boenning Scattergood started coverage on shares of Hallmark Financial Services (NASDAQ:HALL) in a research note released on Tuesday, Marketbeat Ratings reports. The brokerage issued a neutral rating on the insurance provider’s stock. Boenning Scattergood also issued estimates for Hallmark Financial Services’ Q4 2017 earnings at $0.10 EPS, FY2017 earnings at $0.02 EPS, Q1 2018 earnings at $0.17 EPS, Q2 2018 earnings at $0.08 EPS, Q3 2018 earnings at $0.18 EPS, Q4 2018 earnings at $0.22 EPS, FY2018 earnings at $0.65 EPS, Q1 2019 earnings at $0.28 EPS, Q2 2019 earnings at $0.18 EPS, Q3 2019 earnings at $0.30 EPS, Q4 2019 earnings at $0.35 EPS and FY2019 earnings at $1.10 EPS.
Separately, Zacks Investment Research raised shares of Hallmark Financial Services from a strong sell rating to a hold rating in a report on Wednesday, January 3rd.
Hallmark Financial Services (HALL) traded down $0.14 during midday trading on Tuesday, reaching $10.47. 9,500 shares of the company’s stock traded hands, compared to its average volume of 34,950. The stock has a market capitalization of $189.39, a P/E ratio of -41.88 and a beta of 0.84. Hallmark Financial Services has a 1-year low of $9.91 and a 1-year high of $11.83. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.43 and a current ratio of 0.43.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its holdings in Hallmark Financial Services by 73.3% during the third quarter. Wells Fargo & Company MN now owns 13,921 shares of the insurance provider’s stock valued at $161,000 after purchasing an additional 5,889 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in Hallmark Financial Services during the second quarter valued at about $190,000. Hancock Holding Co. lifted its holdings in Hallmark Financial Services by 12.1% during the second quarter. Hancock Holding Co. now owns 17,572 shares of the insurance provider’s stock valued at $198,000 after purchasing an additional 1,900 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Hallmark Financial Services by 11.2% during the second quarter. Alliancebernstein L.P. now owns 18,800 shares of the insurance provider’s stock valued at $212,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Teachers Advisors LLC lifted its holdings in Hallmark Financial Services by 6.8% during the second quarter. Teachers Advisors LLC now owns 27,951 shares of the insurance provider’s stock valued at $315,000 after purchasing an additional 1,769 shares during the last quarter. 64.97% of the stock is currently owned by institutional investors and hedge funds.
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About Hallmark Financial Services
Hallmark Financial Services, Inc is an insurance holding company. The Company markets, distributes, underwrites and services its property/casualty insurance products to businesses and individuals. Its business involves marketing, distributing, underwriting and servicing insurance products, as well as providing other insurance related services.
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