According to Zacks, “Arrow Financial Corporation is registered as a bank holding company. They own two nationally chartered banks, Glens Falls National Bank and Trust Company, and Saratoga National Bank and Trust Company, as well as two non-bank subsidiaries, the operations of which are not significant. They own directly or indirectly all voting stock of all its subsidiaries. The business of the Company consists primarily of the ownership, supervision and control of its bank subsidiaries. “
Separately, StockNews.com began coverage on shares of Arrow Financial in a report on Thursday, March 31st. They issued a “hold” rating on the stock.
Arrow Financial (NASDAQ:AROW – Get Rating) last announced its quarterly earnings data on Tuesday, April 26th. The financial services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.07. Arrow Financial had a net margin of 33.05% and a return on equity of 13.64%. The business had revenue of $35.99 million for the quarter, compared to analyst estimates of $34.84 million. On average, analysts predict that Arrow Financial will post 2.92 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of AROW. Nisa Investment Advisors LLC acquired a new stake in shares of Arrow Financial during the first quarter worth $25,000. City State Bank acquired a new stake in shares of Arrow Financial during the fourth quarter worth $28,000. Great West Life Assurance Co. Can raised its holdings in shares of Arrow Financial by 71.9% during the first quarter. Great West Life Assurance Co. Can now owns 944 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 395 shares during the period. Citigroup Inc. raised its holdings in shares of Arrow Financial by 52.1% during the third quarter. Citigroup Inc. now owns 1,878 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 643 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of Arrow Financial by 14.3% during the third quarter. Royal Bank of Canada now owns 3,693 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 463 shares during the period. Institutional investors own 43.75% of the company’s stock.
About Arrow Financial (Get Rating)
Arrow Financial Corporation, a bank holding company, provides commercial and consumer banking, and financial products and services. The company's deposit products include demand deposits, interest-bearing checking accounts, savings deposits, time deposits, and other time deposits. Its lending activities comprise commercial loans, such as term loans, time notes, and lines of credit; and commercial real estate loans to finance real estate purchases, refinancing, expansions, and improvements to commercial properties, as well as commercial construction and land development loans to finance projects.
- Get a free copy of the StockNews.com research report on Arrow Financial (AROW)
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