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

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

Separately, Piper Sandler reduced their target price on shares of Arrow Financial from $30.00 to $28.00 and set a "neutral" rating for the company in a research note on Monday, May 5th.

Arrow Financial Stock Performance

Shares of NASDAQ AROW traded down $0.32 during mid-day trading on Friday, hitting $26.42. The company had a trading volume of 31,152 shares, compared to its average volume of 42,193. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.93. The business's 50-day simple moving average is $25.67 and its 200-day simple moving average is $26.38. Arrow Financial has a 12 month low of $22.72 and a 12 month high of $34.63. The firm has a market cap of $440.42 million, a P/E ratio of 15.54 and a beta of 0.78.

Arrow Financial (NASDAQ:AROW - Get Free Report) last released its earnings results on Thursday, May 1st. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.06). Arrow Financial had a net margin of 12.51% and a return on equity of 8.01%. The company had revenue of $50.37 million during the quarter, compared to the consensus estimate of $39.26 million. As a group, analysts predict that Arrow Financial will post 2.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arrow Financial news, Director Raymond F. O'conor sold 2,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $23.78, for a total transaction of $47,560.00. Following the completion of the transaction, the director owned 29,293 shares in the company, valued at $696,587.54. This trade represents a 6.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Arrow Financial by 3.8% during the first quarter. Vanguard Group Inc. now owns 833,728 shares of the financial services provider's stock worth $21,919,000 after purchasing an additional 30,459 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Arrow Financial by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 736,569 shares of the financial services provider's stock worth $21,147,000 after buying an additional 12,798 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Arrow Financial by 5.9% during the first quarter. American Century Companies Inc. now owns 322,998 shares of the financial services provider's stock worth $8,492,000 after buying an additional 18,034 shares in the last quarter. Rhino Investment Partners Inc increased its holdings in shares of Arrow Financial by 3.3% during the first quarter. Rhino Investment Partners Inc now owns 196,282 shares of the financial services provider's stock worth $5,160,000 after buying an additional 6,190 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in shares of Arrow Financial by 15.5% during the fourth quarter. Voya Investment Management LLC now owns 178,680 shares of the financial services provider's stock worth $5,130,000 after buying an additional 24,036 shares in the last quarter. Institutional investors own 46.71% of the company's stock.

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.