Arrow Financial (NASDAQ:AROW) Given "Hold (C)" Rating at Weiss Ratings

Key Points

• Arrow Financial's stock has been given a "hold (C)" rating by Weiss Ratings, with a consensus rating of "Hold" and an average price target of $28.25.
• In recent trading, AROW stock increased by 1.9%, reaching $27.56, with a market capitalization of $453.91 million.
• Insider trading activity includes CFO Penko Krassimir Ivanov purchasing 10,922 shares at an average price of $29.46, significantly increasing his stake in the company.

Arrow Financial (NASDAQ:AROW - Get Free Report)'s stock had its "hold (c)" rating reiterated by equities researchers at Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

AROW has been the subject of several other research reports. Wall Street Zen upgraded Arrow Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Hovde Group raised their price objective on Arrow Financial from $27.50 to $28.50 and gave the company a "market perform" rating in a report on Friday, July 25th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $28.25.

Arrow Financial Stock Up 1.9%

AROW stock traded up $0.51 during trading hours on Friday, reaching $27.56. 20,199 shares of the stock were exchanged, compared to its average volume of 41,487. The firm's 50-day moving average is $28.34 and its 200-day moving average is $26.85. The company has a market cap of $453.91 million, a price-to-earnings ratio of 15.06 and a beta of 0.79. 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 12 month low of $22.72 and a 12 month high of $34.63.

Arrow Financial (NASDAQ:AROW - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.08. The firm had revenue of $51.57 million during the quarter, compared to analysts' expectations of $39.83 million. Arrow Financial had a return on equity of 8.64% and a net margin of 13.28%. On average, equities research analysts expect that Arrow Financial will post 2.65 earnings per share for the current year.

Insider Buying and Selling

In other Arrow Financial news, CFO Penko Krassimir Ivanov purchased 10,922 shares of Arrow Financial stock in a transaction that occurred on Wednesday, August 27th. The stock was acquired at an average price of $29.46 per share, for a total transaction of $321,762.12. Following the completion of the acquisition, the chief financial officer owned 19,715 shares of the company's stock, valued at approximately $580,803.90. This trade represents a 124.21% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders bought a total of 18,425 shares of company stock worth $536,783 in the last three months. Company insiders own 3.28% of the company's stock.

Hedge Funds Weigh In On Arrow Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its holdings in Arrow Financial by 67.2% during the second quarter. BNP Paribas Financial Markets now owns 1,612 shares of the financial services provider's stock worth $43,000 after purchasing an additional 648 shares during the period. CWM LLC grew its holdings in Arrow Financial by 159.5% during the third quarter. CWM LLC now owns 1,754 shares of the financial services provider's stock worth $50,000 after purchasing an additional 1,078 shares during the period. Tower Research Capital LLC TRC grew its holdings in Arrow Financial by 306.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,390 shares of the financial services provider's stock worth $63,000 after purchasing an additional 1,802 shares during the period. Raymond James Financial Inc. bought a new position in Arrow Financial during the second quarter worth about $198,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Arrow Financial by 4.1% during the first 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. 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.

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