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

StockNews.com upgraded shares of Arrow Financial (NASDAQ:AROW) from a sell rating to a hold rating in a report released on Friday morning.

Separately, Piper Sandler lowered their price target on shares of Arrow Financial from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th.

Arrow Financial Trading Up 3.9 %

Shares of Arrow Financial stock opened at $25.35 on Friday. Arrow Financial has a 12-month low of $22.72 and a 12-month high of $34.63. The stock has a market capitalization of $422.61 million, a P/E ratio of 14.32 and a beta of 0.78. The company has a 50-day simple moving average of $25.45 and a 200 day simple moving average of $27.95. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06.

Arrow Financial (NASDAQ:AROW) last announced its earnings results on Thursday, May 1st. The financial services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.06). Arrow Financial had a return on equity of 8.59% and a net margin of 13.32%. The business had revenue of $50.37 million for the quarter, compared to the consensus estimate of $39.26 million. Research analysts expect that Arrow Financial will post 2.65 earnings per share for the current fiscal year.

Arrow Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th will be paid a $0.28 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.12 dividend on an annualized basis and a yield of 4.42%. Arrow Financial’s payout ratio is presently 65.88%.

Insider Buying and Selling at Arrow Financial

In other news, Director Raymond F. O’conor sold 2,000 shares of Arrow Financial stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $26.90, for a total transaction of $53,800.00. Following the transaction, the director now directly owns 33,022 shares of the company’s stock, valued at $888,291.80. This trade represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 6,000 shares of company stock worth $153,240. Insiders own 3.55% of the company’s stock.

Institutional Investors Weigh In On Arrow Financial

A number of hedge funds have recently modified their holdings of the business. Barclays PLC raised its holdings in Arrow Financial by 251.9% during the 3rd quarter. Barclays PLC now owns 21,411 shares of the financial services provider’s stock worth $614,000 after buying an additional 15,327 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Arrow Financial by 137.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,702 shares of the financial services provider’s stock valued at $536,000 after purchasing an additional 10,838 shares during the period. Trust Co. of Vermont boosted its position in shares of Arrow Financial by 49.5% during the fourth quarter. Trust Co. of Vermont now owns 57,365 shares of the financial services provider’s stock worth $1,647,000 after buying an additional 19,000 shares during the period. SG Americas Securities LLC raised its position in Arrow Financial by 18.5% in the 4th quarter. SG Americas Securities LLC now owns 6,765 shares of the financial services provider’s stock valued at $194,000 after buying an additional 1,056 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Arrow Financial by 5.6% in the 4th quarter. Rhumbline Advisers now owns 26,162 shares of the financial services provider’s stock valued at $751,000 after acquiring an additional 1,392 shares in the last quarter. Institutional investors and hedge funds 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.