Boenning Scattergood Comments on Hallmark Financial Services, Inc.’s Q2 2022 Earnings (NASDAQ:HALL)

Hallmark Financial Services, Inc. (NASDAQ:HALL) – Stock analysts at Boenning Scattergood reduced their Q2 2022 earnings per share (EPS) estimates for Hallmark Financial Services in a report issued on Monday, June 21st. Boenning Scattergood analyst R. Farnam now anticipates that the insurance provider will post earnings of $0.13 per share for the quarter, down from their prior forecast of $0.17.

Separately, Zacks Investment Research upgraded shares of Hallmark Financial Services from a “sell” rating to a “hold” rating in a research note on Thursday, May 20th.

NASDAQ HALL opened at $4.39 on Tuesday. Hallmark Financial Services has a 1 year low of $2.57 and a 1 year high of $5.00. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.58. The stock has a market cap of $79.77 million, a PE ratio of -4.48 and a beta of 1.43. The business has a 50 day moving average price of $4.22.

Hallmark Financial Services (NASDAQ:HALL) last announced its quarterly earnings results on Thursday, May 13th. The insurance provider reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.34. The company had revenue of $107.51 million for the quarter, compared to analysts’ expectations of $106.95 million. Hallmark Financial Services had a negative net margin of 3.66% and a negative return on equity of 6.04%.

A number of institutional investors have recently made changes to their positions in the business. Koshinski Asset Management Inc. bought a new stake in Hallmark Financial Services in the 4th quarter worth $225,000. Public Employees Retirement System of Ohio grew its holdings in Hallmark Financial Services by 69.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 17,332 shares of the insurance provider’s stock worth $62,000 after acquiring an additional 7,117 shares during the last quarter. Squarepoint Ops LLC grew its holdings in Hallmark Financial Services by 19.9% in the 1st quarter. Squarepoint Ops LLC now owns 53,607 shares of the insurance provider’s stock worth $208,000 after acquiring an additional 8,907 shares during the last quarter. Jane Street Group LLC bought a new stake in Hallmark Financial Services in the 1st quarter worth $52,000. Finally, Goldman Sachs Group Inc. grew its holdings in Hallmark Financial Services by 55.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 38,920 shares of the insurance provider’s stock worth $151,000 after acquiring an additional 13,846 shares during the last quarter. 29.93% of the stock is currently owned by institutional investors and hedge funds.

About Hallmark Financial Services

Hallmark Financial Services, Inc underwrites, markets, distributes, and services property/casualty insurance products to businesses and individuals in the United States. It operates through Specialty Commercial, Standard Commercial, and Personal segments. The Specialty Commercial segment provides primary and excess commercial vehicle insurance products and services; primary and excess liability, excess public entity liability, and E&S package and garage liability insurance products and services; primary and excess commercial property insurance for catastrophe and non-catastrophe exposures; healthcare and financial lines professional liability insurance products and services primarily for businesses, medical professionals, medical facilities, and senior care facilities; and satellite launch property/casualty insurance products and services, as well as various specialty programs.

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Earnings History and Estimates for Hallmark Financial Services (NASDAQ:HALL)

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