Arrow Financial (NASDAQ:AROW) Announces Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Arrow Financial (NASDAQ:AROW - Get Free Report) released its earnings results on Thursday. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.06), Zacks reports. The business had revenue of $50.37 million during the quarter, compared to the consensus estimate of $39.26 million. Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%.

Arrow Financial Stock Up 3.9 %

NASDAQ:AROW opened at $25.35 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.93. Arrow Financial has a one year low of $22.72 and a one year high of $34.63. The firm's 50 day simple moving average is $25.45 and its 200 day simple moving average is $27.97. The company has a market cap of $422.61 million, a PE ratio of 14.32 and a beta of 0.78.

Arrow Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Tuesday, May 13th will be issued a $0.28 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.12 dividend on an annualized basis and a yield of 4.42%. Arrow Financial's dividend payout ratio (DPR) is presently 65.88%.

Insider Buying and Selling at Arrow Financial

In related news, Director Raymond F. O'conor sold 2,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $25.28, for a total value of $50,560.00. Following the completion of the sale, the director now directly owns 35,022 shares in the company, valued at $885,356.16. This represents a 5.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 8,000 shares of company stock worth $203,800. 3.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AROW shares. Piper Sandler lowered their price objective on shares of Arrow Financial from $32.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, February 4th. StockNews.com upgraded shares of Arrow Financial from a "sell" rating to a "hold" rating in a report on Friday.

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.

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