Arrow Financial Co. (NASDAQ:AROW) Director Sells $53,800.00 in Stock

Arrow Financial Co. (NASDAQ:AROW) 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 value of $53,800.00. Following the transaction, the director now owns 33,022 shares in the company, valued at $888,291.80. This represents a 5.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Arrow Financial Stock Down 0.9 %

AROW traded down $0.23 during trading on Tuesday, hitting $26.67. 12,254 shares of the company’s stock were exchanged, compared to its average volume of 38,970. Arrow Financial Co. has a fifty-two week low of $21.50 and a fifty-two week high of $34.63. The business’s 50 day moving average is $27.23 and its two-hundred day moving average is $29.10. The stock has a market cap of $446.43 million, a P/E ratio of 15.07 and a beta of 0.76. 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 issued its earnings results 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%. As a group, equities analysts expect that Arrow Financial Co. will post 2.65 earnings per share for the current fiscal year.

Arrow Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, February 10th were paid a $0.28 dividend. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, February 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.20%. Arrow Financial’s dividend payout ratio is 63.28%.

Hedge Funds Weigh In On Arrow Financial

A number of institutional investors and hedge funds have recently modified their holdings of AROW. Tower Research Capital LLC TRC boosted its holdings in shares of Arrow Financial by 130.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,241 shares of the financial services provider’s stock valued at $36,000 after buying an additional 703 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Arrow Financial by 13.0% in the third quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 398 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of 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 acquiring an additional 1,056 shares during the period. State of Tennessee Department of Treasury acquired a new stake in shares of Arrow Financial in the fourth quarter valued at $198,000. Finally, Carl P. Sherr & Co. LLC purchased a new stake in Arrow Financial in the third quarter valued at $216,000. Hedge funds and other institutional investors own 46.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AROW shares. Hovde Group dropped their price objective on Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a research note on Friday, December 27th. Piper Sandler decreased their price objective on Arrow Financial from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th.

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.