Shares of Hallmark Financial Services Inc. (NASDAQ:HALL) were down 4.5% during trading on Thursday . The stock traded as low as $10.55 and last traded at $10.74, with a volume of 103,466 shares trading hands. The stock had previously closed at $11.25.

Separately, Zacks Investment Research raised shares of Hallmark Financial Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 12th.

The company’s 50 day moving average is $11.12 and its 200-day moving average is $10.79. The firm has a market capitalization of $202.89 million and a price-to-earnings ratio of 10.12.

Hallmark Financial Services (NASDAQ:HALL) last announced its earnings results on Thursday, May 5th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by $0.07. On average, equities research analysts predict that Hallmark Financial Services Inc. will post $1.09 EPS for the current year.

In other news, CEO Naveen Anand bought 10,300 shares of the company’s stock in a transaction that occurred on Thursday, June 2nd. The stock was acquired at an average price of $9.84 per share, for a total transaction of $101,352.00. Following the transaction, the chief executive officer now directly owns 60,300 shares of the company’s stock, valued at approximately $593,352. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Other large investors have recently made changes to their positions in the company. Bank of Montreal Can boosted its stake in shares of Hallmark Financial Services by 3.7% in the fourth quarter. Bank of Montreal Can now owns 713,108 shares of the company’s stock worth $8,336,000 after buying an additional 25,169 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Hallmark Financial Services by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,475,301 shares of the company’s stock worth $17,247,000 after buying an additional 50,668 shares during the period. Finally, Magnolia Group LLC purchased a new stake in shares of Hallmark Financial Services during the fourth quarter worth about $2,295,000.

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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