Arrow Financial (NASDAQ:AROW) Now Covered by StockNews.com

StockNews.com started coverage on shares of Arrow Financial (NASDAQ:AROW – Get Rating) in a report issued on Thursday. The brokerage set a “hold” rating on the financial services provider’s stock.

Arrow Financial Stock Down 3.6 %

Shares of NASDAQ:AROW opened at $26.21 on Thursday. The stock’s 50-day moving average price is $31.10 and its 200-day moving average price is $32.29. Arrow Financial has a 12-month low of $25.47 and a 12-month high of $36.51. The stock has a market capitalization of $433.23 million, a P/E ratio of 8.85 and a beta of 0.68. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15.

Arrow Financial (NASDAQ:AROW – Get Rating) last announced its quarterly earnings data on Monday, January 30th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.07). Arrow Financial had a net margin of 30.40% and a return on equity of 13.82%. The company had revenue of $43.07 million for the quarter, compared to the consensus estimate of $39.09 million. On average, equities analysts anticipate that Arrow Financial will post 3.18 earnings per share for the current year.

Insider Buying and Selling

In other Arrow Financial news, Director Gary C. Dake bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 10th. The shares were bought at an average cost of $27.57 per share, with a total value of $27,570.00. Following the completion of the purchase, the director now directly owns 46,329 shares of the company’s stock, valued at $1,277,290.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 4,500 shares of company stock valued at $148,989 over the last ninety days. 4.19% of the stock is owned by insiders.

Institutional Trading of Arrow Financial

Several large investors have recently modified their holdings of the business. Voya Investment Management LLC bought a new stake in shares of Arrow Financial in the fourth quarter worth about $227,000. Alliancebernstein L.P. lifted its holdings in Arrow Financial by 7.9% in the fourth quarter. Alliancebernstein L.P. now owns 13,120 shares of the financial services provider’s stock worth $445,000 after buying an additional 957 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in Arrow Financial in the fourth quarter worth about $40,000. MetLife Investment Management LLC lifted its holdings in Arrow Financial by 4.5% in the fourth quarter. MetLife Investment Management LLC now owns 7,569 shares of the financial services provider’s stock worth $257,000 after buying an additional 328 shares during the period. Finally, Morgan Stanley lifted its holdings in Arrow Financial by 64.0% in the fourth quarter. Morgan Stanley now owns 115,244 shares of the financial services provider’s stock worth $3,907,000 after buying an additional 44,969 shares during the period. 44.18% of the stock is owned by institutional investors.

About Arrow Financial

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Arrow Financial Corp. is a bank holding company, which engages in the provision of banking and insurance services through its subsidiaries, Glens Falls National and Saratoga National. It offers deposit accounts, lending activities, insurance products, and loans. The company was founded on March 21, 1983 and is headquartered in Glens Falls, NY.