Arrow Financial (NASDAQ:AROW) Downgraded to Sell Rating by Wall Street Zen

Arrow Financial (NASDAQ:AROW - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Friday.

Separately, Piper Sandler dropped 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 Stock Up 0.4%

NASDAQ AROW traded up $0.11 during trading hours on Friday, hitting $26.74. 93,587 shares of the company were exchanged, compared to its average volume of 43,373. 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 market cap of $445.76 million, a price-to-earnings ratio of 15.73 and a beta of 0.78. The company has a 50 day moving average of $25.67 and a two-hundred day moving average of $26.45. Arrow Financial has a 52-week low of $22.72 and a 52-week high of $34.63.

Arrow Financial (NASDAQ:AROW - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.06). Arrow Financial had a return on equity of 8.01% and a net margin of 12.51%. The company had revenue of $50.37 million for the quarter, compared to analyst estimates of $39.26 million. Equities research analysts anticipate that Arrow Financial will post 2.65 earnings per share for the current year.

Insider Transactions at Arrow Financial

In other news, Director Raymond F. O'conor sold 2,000 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $23.78, for a total value of $47,560.00. Following the completion of the sale, the director now directly owns 29,293 shares of the company's stock, valued at approximately $696,587.54. The trade was a 6.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.55% of the company's stock.

Institutional Trading of Arrow Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in AROW. Tower Research Capital LLC TRC increased its holdings in shares of Arrow Financial by 130.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,241 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 703 shares during the period. State of Tennessee Department of Treasury acquired a new stake in shares of Arrow Financial during the fourth quarter worth $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Arrow Financial by 4.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,406 shares of the financial services provider's stock valued at $270,000 after buying an additional 436 shares during the last quarter. MetLife Investment Management LLC increased its stake in Arrow Financial by 9.4% in 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 period. Finally, Parr Mcknight Wealth Management Group LLC acquired a new position in Arrow Financial in the 4th quarter valued at $316,000. 46.71% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.