Arrow Financial Co. (NASDAQ:AROW) Plans $0.27 Quarterly Dividend

Arrow Financial Co. (NASDAQ:AROW) announced a quarterly dividend on Wednesday, July 24th, Zacks reports. Stockholders of record on Monday, August 12th will be given a dividend of 0.27 per share by the financial services provider on Friday, August 23rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Monday, August 12th.

Arrow Financial has increased its dividend payment by an average of 4.3% annually over the last three years. Arrow Financial has a payout ratio of 40.1% meaning its dividend is sufficiently covered by earnings.

Arrow Financial Stock Performance

Arrow Financial stock traded down $0.24 during trading hours on Friday, hitting $32.17. The company had a trading volume of 56,278 shares, compared to its average volume of 43,559. Arrow Financial has a one year low of $16.65 and a one year high of $32.92. The firm has a market cap of $537.24 million, a PE ratio of 18.60 and a beta of 0.74. The firm has a 50-day moving average of $26.08 and a 200 day moving average of $24.91. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.90 and a quick ratio of 0.90.

Arrow Financial (NASDAQ:AROW) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter. The business had revenue of $55.83 million during the quarter. Arrow Financial had a return on equity of 7.89% and a net margin of 14.34%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Arrow Financial from a “hold” rating to a “sell” rating in a research report on Monday.

Insiders Place Their Bets

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