Arrow Financial Co. (NASDAQ:AROW) Sees Significant Decrease in Short Interest

Arrow Financial Co. (NASDAQ:AROW) saw a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 126,300 shares, a decline of 6.2% from the May 31st total of 134,600 shares. Based on an average trading volume of 37,200 shares, the days-to-cover ratio is presently 3.4 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Arrow Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 9th.

Insider Activity

In related news, Director Raymond F. O’conor sold 4,000 shares of Arrow Financial stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $23.63, for a total value of $94,520.00. Following the sale, the director now directly owns 46,419 shares in the company, valued at approximately $1,096,880.97. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.55% of the company’s stock.

Institutional Trading of Arrow Financial

Large investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC grew its holdings in shares of Arrow Financial by 5.1% in the 3rd quarter. HighTower Advisors LLC now owns 15,982 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 770 shares during the last quarter. Trust Co. of Vermont boosted its position in shares of Arrow Financial by 3.0% in the 3rd quarter. Trust Co. of Vermont now owns 39,105 shares of the financial services provider’s stock valued at $666,000 after purchasing an additional 1,137 shares during the period. SG Americas Securities LLC increased its stake in Arrow Financial by 22.1% in the 4th quarter. SG Americas Securities LLC now owns 8,033 shares of the financial services provider’s stock worth $224,000 after purchasing an additional 1,454 shares in the last quarter. IFG Advisory LLC acquired a new stake in Arrow Financial during the 4th quarter worth about $225,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in Arrow Financial during the fourth quarter valued at about $53,000. 46.71% of the stock is currently owned by institutional investors.

Arrow Financial Price Performance

Shares of NASDAQ:AROW opened at $26.11 on Wednesday. Arrow Financial has a 12 month low of $16.65 and a 12 month high of $29.66. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.90 and a quick ratio of 0.90. The stock’s 50 day moving average price is $24.44 and its 200 day moving average price is $24.86. The stock has a market cap of $436.04 million, a price-to-earnings ratio of 15.18 and a beta of 0.74.

Arrow Financial (NASDAQ:AROW) last released its earnings results on Tuesday, April 30th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Arrow Financial had a return on equity of 7.89% and a net margin of 14.34%. The firm had revenue of $54.54 million for the quarter, compared to analyst estimates of $33.29 million. Equities research analysts anticipate that Arrow Financial will post 2.29 earnings per share for the current fiscal year.

Arrow Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 13th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.14%. The ex-dividend date was Friday, May 10th. Arrow Financial’s dividend payout ratio is presently 62.81%.

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.