StockNews.com Upgrades Arrow Financial (NASDAQ:AROW) to “Hold”

Arrow Financial (NASDAQ:AROW) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Separately, Hovde Group began coverage on Arrow Financial in a report on Tuesday, January 9th. They issued a “market perform” rating on the stock.

Arrow Financial Stock Up 4.1 %

Shares of NASDAQ AROW opened at $22.79 on Friday. The stock has a market cap of $377.17 million, a P/E ratio of 12.84 and a beta of 0.70. The business’s fifty day simple moving average is $23.91 and its 200-day simple moving average is $24.22. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.07. Arrow Financial has a 12-month low of $16.65 and a 12-month high of $29.66.

Arrow Financial (NASDAQ:AROW) last posted its earnings results on Thursday, February 1st. The financial services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.04). The business had revenue of $33.10 million during the quarter, compared to analysts’ expectations of $35.01 million. Arrow Financial had a net margin of 15.69% and a return on equity of 8.21%. As a group, equities analysts predict that Arrow Financial will post 2.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Arrow Financial

Several hedge funds have recently made changes to their positions in AROW. CWM LLC grew its holdings in shares of Arrow Financial by 226.1% during the third quarter. CWM LLC now owns 1,562 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,083 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Arrow Financial by 136.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,630 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 941 shares during the last quarter. Ensign Peak Advisors Inc purchased a new position in shares of Arrow Financial during the third quarter worth about $28,000. GAMMA Investing LLC purchased a new position in shares of Arrow Financial during the fourth quarter worth about $29,000. Finally, Great West Life Assurance Co. Can grew 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 purchasing an additional 395 shares during the last quarter. Hedge funds and other institutional investors own 46.71% of the company’s stock.

About Arrow Financial

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 enhancement to commercial properties, as well as commercial construction and land development loans to finance projects.