Bank of Montreal Can Purchases 4,606 Shares of Hallmark Financial Services, Inc. (HALL)

Bank of Montreal Can boosted its position in Hallmark Financial Services, Inc. (NASDAQ:HALL) by 0.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 593,604 shares of the insurance provider’s stock after purchasing an additional 4,606 shares during the quarter. Bank of Montreal Can’s holdings in Hallmark Financial Services were worth $6,530,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HALL. Renaissance Technologies LLC lifted its position in shares of Hallmark Financial Services by 9.0% during the 2nd quarter. Renaissance Technologies LLC now owns 289,900 shares of the insurance provider’s stock valued at $2,893,000 after acquiring an additional 24,000 shares during the period. Boston Partners lifted its position in shares of Hallmark Financial Services by 1.9% during the 2nd quarter. Boston Partners now owns 475,600 shares of the insurance provider’s stock valued at $4,746,000 after acquiring an additional 8,800 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Hallmark Financial Services by 2.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 583,380 shares of the insurance provider’s stock valued at $5,822,000 after acquiring an additional 16,600 shares during the period. Intrepid Capital Management Inc. lifted its position in shares of Hallmark Financial Services by 100.4% during the 2nd quarter. Intrepid Capital Management Inc. now owns 979,797 shares of the insurance provider’s stock valued at $9,778,000 after acquiring an additional 490,924 shares during the period. Finally, Cove Street Capital LLC lifted its position in shares of Hallmark Financial Services by 0.3% during the 2nd quarter. Cove Street Capital LLC now owns 1,691,533 shares of the insurance provider’s stock valued at $16,881,000 after acquiring an additional 5,210 shares during the period. Institutional investors and hedge funds own 66.03% of the company’s stock.

Hallmark Financial Services stock opened at $11.15 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.33. Hallmark Financial Services, Inc. has a 52 week low of $8.62 and a 52 week high of $11.69. The firm has a market cap of $197.74 million, a PE ratio of -30.14 and a beta of 0.78.

Hallmark Financial Services (NASDAQ:HALL) last posted its quarterly earnings results on Tuesday, August 7th. The insurance provider reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. Hallmark Financial Services had a negative return on equity of 0.69% and a negative net margin of 1.67%. The company had revenue of $96.43 million during the quarter, compared to analysts’ expectations of $99.41 million. As a group, research analysts forecast that Hallmark Financial Services, Inc. will post 0.82 EPS for the current year.

A number of research firms have recently weighed in on HALL. Zacks Investment Research upgraded Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Monday, October 22nd. ValuEngine upgraded Hallmark Financial Services from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Raymond James reiterated a “hold” rating and set a $13.00 target price on shares of Hallmark Financial Services in a research report on Monday, August 13th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Hallmark Financial Services in a research report on Wednesday, August 8th.

About Hallmark Financial Services

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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Institutional Ownership by Quarter for Hallmark Financial Services (NASDAQ:HALL)

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