Arrow Financial Co. (NASDAQ:AROW) Short Interest Update

Arrow Financial Co. (NASDAQ:AROW - Get Free Report) saw a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 93,300 shares, a decrease of 31.1% from the April 30th total of 135,500 shares. Currently, 0.6% of the company's shares are short sold. Based on an average daily trading volume, of 45,000 shares, the short-interest ratio is presently 2.1 days.

Insider Activity at Arrow Financial

In related news, Director Raymond F. O'conor sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $25.94, for a total value of $51,880.00. Following the transaction, the director now owns 31,022 shares of the company's stock, valued at $804,710.68. This represents a 6.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 6,000 shares of company stock worth $153,240. Company insiders own 3.55% of the company's stock.

Institutional Investors 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 raised its position in Arrow Financial by 130.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,241 shares of the financial services provider's stock worth $36,000 after buying an additional 703 shares during the last quarter. SG Americas Securities LLC lifted its position in Arrow Financial by 18.5% during the fourth quarter. SG Americas Securities LLC now owns 6,765 shares of the financial services provider's stock valued at $194,000 after purchasing an additional 1,056 shares during the period. State of Tennessee Department of Treasury purchased a new stake in Arrow Financial in the fourth quarter valued at $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Arrow Financial by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,796 shares of the financial services provider's stock worth $258,000 after purchasing an additional 390 shares during the period. Finally, MetLife Investment Management LLC raised its stake in shares of Arrow Financial by 9.4% during the 4th quarter. MetLife Investment Management LLC now owns 10,076 shares of the financial services provider's stock valued at $289,000 after buying an additional 866 shares during the last quarter. Institutional investors and hedge funds own 46.71% of the company's stock.

Arrow Financial Stock Performance

Shares of Arrow Financial stock traded up $0.05 during midday trading on Friday, hitting $26.00. The company had a trading volume of 28,136 shares, compared to its average volume of 42,347. The company has a fifty day simple moving average of $25.39 and a 200 day simple moving average of $27.38. The stock has a market cap of $433.55 million, a price-to-earnings ratio of 14.69 and a beta of 0.78. 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 has a 12-month low of $22.72 and a 12-month high of $34.63.

Arrow Financial (NASDAQ:AROW - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.06). Arrow Financial had a return on equity of 8.59% and a net margin of 13.32%. The company had revenue of $50.37 million for the quarter, compared to analyst estimates of $39.26 million. As a group, analysts predict that Arrow Financial will post 2.65 earnings per share for the current fiscal year.

Arrow Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $1.12 annualized dividend and a yield of 4.31%. Arrow Financial's payout ratio is presently 65.88%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AROW. Wall Street Zen lowered Arrow Financial from a "hold" rating to a "sell" rating in a report on Friday. Piper Sandler cut their price objective on shares of Arrow Financial from $30.00 to $28.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th.

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.