Arrow Financial Co. (NASDAQ:AROW – Get Free Report) 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.
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.
Check Out Our Latest Stock Analysis on Arrow Financial
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.
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