Raymond F. O’conor Sells 2,000 Shares of Arrow Financial Co. (NASDAQ:AROW) Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $32.69, for a total transaction of $65,380.00. Following the completion of the sale, the director now directly owns 37,859 shares in the company, valued at approximately $1,237,610.71. This trade represents a 5.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Arrow Financial Price Performance

Shares of Arrow Financial stock traded down $0.61 on Tuesday, reaching $32.46. The stock had a trading volume of 38,602 shares, compared to its average volume of 41,639. The business’s 50 day moving average is $30.33 and its two-hundred day moving average is $28.48. The company has a market cap of $543.38 million, a P/E ratio of 16.87 and a beta of 0.75. Arrow Financial Co. has a 1 year low of $21.50 and a 1 year high of $34.63. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. The firm had revenue of $57.58 million during the quarter. Arrow Financial had a net margin of 15.00% and a return on equity of 8.59%.

Arrow Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Shareholders of record on Tuesday, October 15th were paid a $0.28 dividend. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend was Tuesday, October 15th. Arrow Financial’s dividend payout ratio is currently 57.14%.

Wall Street Analyst Weigh In

Separately, Hovde Group started coverage on shares of Arrow Financial in a research note on Monday, September 9th. They issued a “market perform” rating and a $31.00 price objective for the company.

Institutional Trading of Arrow Financial

Several institutional investors and hedge funds have recently modified their holdings of AROW. BNP Paribas Financial Markets raised its stake in 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 bought a new position in Arrow Financial in the third quarter valued at $164,000. IFG Advisory LLC purchased a new stake in Arrow Financial during the second quarter valued at about $207,000. Carl P. Sherr & Co. LLC bought a new stake in Arrow Financial during the third quarter worth about $216,000. Finally, Atria Investments Inc boosted its holdings in shares of Arrow Financial by 32.6% in the 3rd quarter. Atria Investments Inc now owns 16,856 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 4,148 shares in the last quarter. Hedge funds and other institutional investors own 46.71% of the company’s stock.

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.