Arrow Financial (NASDAQ:AROW) Downgraded by StockNews.com

StockNews.com downgraded shares of Arrow Financial (NASDAQ:AROW) from a hold rating to a sell rating in a research note released on Wednesday morning.

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

Arrow Financial Trading Up 4.5 %

Shares of NASDAQ AROW opened at $23.28 on Wednesday. The company has a market cap of $388.54 million, a price-to-earnings ratio of 13.12 and a beta of 0.70. Arrow Financial has a 12-month low of $16.65 and a 12-month high of $29.66. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.07. The stock’s 50 day simple moving average is $23.67 and its 200 day simple moving average is $24.52.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.02). The company had revenue of $54.54 million during the quarter, compared to the consensus estimate of $33.29 million. Arrow Financial had a return on equity of 8.21% and a net margin of 15.69%. Equities research analysts expect that Arrow Financial will post 2.33 EPS for the current year.

Arrow Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 13th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend is Friday, May 10th. Arrow Financial’s payout ratio is currently 60.87%.

Institutional Trading of Arrow Financial

Several hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its stake in Arrow Financial by 90.9% during the 1st quarter. BNP Paribas Financial Markets now owns 7,263 shares of the financial services provider’s stock valued at $182,000 after acquiring an additional 3,459 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Arrow Financial by 20.0% during the 1st quarter. Commonwealth Equity Services LLC now owns 23,697 shares of the financial services provider’s stock valued at $593,000 after acquiring an additional 3,950 shares in the last quarter. Adirondack Trust Co. raised its stake in Arrow Financial by 3.0% during the 4th quarter. Adirondack Trust Co. now owns 21,984 shares of the financial services provider’s stock valued at $614,000 after acquiring an additional 635 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Arrow Financial during the 4th quarter valued at $128,000. Finally, Arrow Financial Corp raised its stake in Arrow Financial by 1.1% during the 4th quarter. Arrow Financial Corp now owns 1,726,525 shares of the financial services provider’s stock valued at $48,239,000 after acquiring an additional 18,937 shares in the last quarter. Institutional investors own 46.71% of the company’s stock.

Arrow Financial Company Profile

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.