Arrow Financial (NASDAQ:AROW) Price Target Cut to $30.00 by Analysts at Piper Sandler

Arrow Financial (NASDAQ:AROW) had its target price dropped by equities researchers at Piper Sandler from $32.00 to $30.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target would indicate a potential upside of 15.21% from the company’s current price.

Separately, Hovde Group reduced their target price on Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a report on Friday, December 27th.

Arrow Financial Stock Performance

Arrow Financial stock opened at $26.04 on Tuesday. Arrow Financial has a twelve month low of $21.50 and a twelve month high of $34.63. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. The firm has a fifty day simple moving average of $29.23 and a two-hundred day simple moving average of $29.49. The company has a market capitalization of $435.91 million, a PE ratio of 14.71 and a beta of 0.76.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.12). Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%. Research analysts expect that Arrow Financial will post 2.7 EPS for the current year.

Insider Activity

In other Arrow Financial news, Director Raymond F. O’conor sold 2,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $32.69, for a total value of $65,380.00. Following the completion of the transaction, the director now owns 37,859 shares of the company’s stock, valued at approximately $1,237,610.71. The trade was a 5.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel James White purchased 3,668 shares of Arrow Financial stock in a transaction dated Friday, January 31st. The stock was bought at an average price of $27.23 per share, with a total value of $99,879.64. Following the completion of the purchase, the director now directly owns 4,338 shares of the company’s stock, valued at approximately $118,123.74. This trade represents a 547.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 6,000 shares of company stock worth $173,640 over the last three months. 3.55% of the stock is currently owned by corporate insiders.

Institutional Trading of Arrow Financial

Large investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in Arrow Financial in the third quarter worth about $164,000. Private Advisor Group LLC lifted its stake in shares of Arrow Financial by 26.7% in the 3rd quarter. Private Advisor Group LLC now owns 25,257 shares of the financial services provider’s stock worth $724,000 after purchasing an additional 5,323 shares during the period. Atria Investments Inc boosted its holdings in shares of Arrow Financial by 32.6% in the third quarter. Atria Investments Inc now owns 16,856 shares of the financial services provider’s stock worth $483,000 after buying an additional 4,148 shares during the last quarter. Arrow Financial Corp grew its position in Arrow Financial by 1.2% during the third quarter. Arrow Financial Corp now owns 1,969,793 shares of the financial services provider’s stock valued at $56,454,000 after buying an additional 23,198 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Arrow Financial by 136.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,050 shares of the financial services provider’s stock valued at $1,578,000 after buying an additional 31,741 shares during 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.