Analysts expect Hallmark Financial Services, Inc. (NASDAQ:HALL) to post $117.45 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Hallmark Financial Services’ earnings. The highest sales estimate is $118.19 million and the lowest is $116.70 million. Hallmark Financial Services posted sales of $94.62 million during the same quarter last year, which suggests a positive year-over-year growth rate of 24.1%. The business is scheduled to report its next quarterly earnings report on Wednesday, November 6th.
According to Zacks, analysts expect that Hallmark Financial Services will report full-year sales of $454.97 million for the current financial year, with estimates ranging from $453.20 million to $456.74 million. For the next fiscal year, analysts anticipate that the business will report sales of $510.54 million, with estimates ranging from $504.20 million to $516.88 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Hallmark Financial Services.
HALL has been the subject of several research analyst reports. Boenning Scattergood upgraded shares of Hallmark Financial Services from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $13.00 to $14.00 in a report on Thursday, May 9th. TheStreet upgraded Hallmark Financial Services from a “c” rating to a “b” rating in a report on Wednesday, May 29th. 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 report on Wednesday, August 14th. Raymond James increased their price target on Hallmark Financial Services from $15.00 to $18.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Finally, ValuEngine downgraded Hallmark Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. Hallmark Financial Services presently has an average rating of “Buy” and an average price target of $16.67.
In related news, CEO Naveen Anand acquired 6,500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were bought at an average price of $16.38 per share, with a total value of $106,470.00. Following the transaction, the chief executive officer now directly owns 77,400 shares of the company’s stock, valued at $1,267,812. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 28.60% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cove Street Capital LLC lifted its position 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 valued at $17,534,000 after acquiring an additional 23,373 shares in the last quarter. Vanguard Group Inc. lifted its position in Hallmark Financial Services by 29.7% in the 2nd quarter. Vanguard Group Inc. now owns 945,386 shares of the insurance provider’s stock valued at $13,453,000 after acquiring an additional 216,369 shares in the last quarter. BlackRock Inc. lifted its position in Hallmark Financial Services by 14.5% in the 2nd quarter. BlackRock Inc. now owns 942,492 shares of the insurance provider’s stock valued at $13,412,000 after acquiring an additional 119,387 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Hallmark Financial Services by 5.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 794,429 shares of the insurance provider’s stock valued at $11,303,000 after acquiring an additional 38,329 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in Hallmark Financial Services by 0.8% in the 2nd quarter. Bank of Montreal Can now owns 608,812 shares of the insurance provider’s stock valued at $8,664,000 after acquiring an additional 5,051 shares in the last quarter. 60.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:HALL traded up $0.55 during trading on Friday, hitting $17.75. 2,453 shares of the company were exchanged, compared to its average volume of 94,387. The business’s 50 day moving average is $14.94 and its 200-day moving average is $12.16. The company has a market capitalization of $300.48 million, a P/E ratio of 17.51 and a beta of 0.63. The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 0.30. Hallmark Financial Services has a 1-year low of $9.48 and a 1-year high of $17.22.
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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