Arrow Financial (NASDAQ:AROW) Issues Quarterly Earnings Results

Key Points

• Arrow Financial missed quarterly earnings expectations, reporting EPS of $0.71 versus analysts’ estimate of $0.85. The company posted a return on equity of 12.38% and a net margin of 20.72%.
• The stock fell 4.5% after the earnings release, opening at $38.89. Arrow Financial currently has a market cap of about $642.85 million and a dividend yield of 3.1%.
• Analyst sentiment remains mixed, with an average rating of “Hold” and an average price target of $39.83. Recent coverage included both upgrades and downgrades, reflecting cautious views on the stock.

Arrow Financial (NASDAQ:AROW - Get Free Report) issued its quarterly earnings data on Thursday. The financial services provider reported $0.71 EPS for the quarter, missing analysts' consensus estimates of $0.85 by ($0.14), FiscalAI reports. Arrow Financial had a return on equity of 12.38% and a net margin of 20.72%.

Arrow Financial Trading Down 4.5%

NASDAQ:AROW opened at $38.89 on Thursday. The stock has a market cap of $642.85 million, a price-to-earnings ratio of 12.62 and a beta of 0.76. Arrow Financial has a one year low of $25.83 and a one year high of $42.70. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.92 and a current ratio of 0.92. The business's 50-day simple moving average is $38.94 and its 200 day simple moving average is $35.92.

Arrow Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, May 12th. Arrow Financial's payout ratio is presently 38.83%.

Insider Transactions at Arrow Financial

In other Arrow Financial news, Director Mark Behan sold 4,110 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $38.59, for a total transaction of $158,604.90. Following the transaction, the director directly owned 8,929 shares in the company, valued at $344,570.11. This represents a 31.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.48% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arrow Financial

Several institutional investors have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC acquired a new stake in Arrow Financial in the fourth quarter worth $2,175,000. Millennium Management LLC acquired a new stake in shares of Arrow Financial in the 3rd quarter worth about $834,000. Martingale Asset Management L P increased its holdings in shares of Arrow Financial by 114.3% in the 4th quarter. Martingale Asset Management L P now owns 48,909 shares of the financial services provider's stock worth $1,536,000 after acquiring an additional 26,082 shares during the period. Marshall Wace LLP lifted its position in Arrow Financial by 89.8% in the 4th quarter. Marshall Wace LLP now owns 50,387 shares of the financial services provider's stock valued at $1,582,000 after purchasing an additional 23,839 shares during the last quarter. Finally, Integrated Quantitative Investments LLC acquired a new position in Arrow Financial during the 4th quarter valued at about $638,000. 46.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AROW shares. Piper Sandler initiated coverage on Arrow Financial in a research note on Friday, June 12th. They issued an "overweight" rating and a $43.00 target price for the company. Zacks Research raised Arrow Financial to a "hold" rating in a research report on Monday, June 15th. Weiss Ratings upgraded Arrow Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, April 27th. Wall Street Zen downgraded shares of Arrow Financial from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Arrow Financial in a research note on Thursday, June 25th. They set a "market perform" rating and a $42.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Arrow Financial currently has an average rating of "Hold" and an average price target of $39.83.

Arrow Financial Company Profile

Arrow Financial Corporation is a bank holding company headquartered in Glens Falls, New York, that conducts its primary operations through its subsidiary, Glens Falls National Bank & Trust Company. The company provides a comprehensive suite of retail and commercial banking services, including checking and savings accounts, consumer and commercial lending, mortgage financing, and cash management solutions. Through its branch network, Arrow Financial serves individuals, small- and medium-sized businesses, and nonprofit organizations across the Adirondack region, Upper Hudson Valley, Mohawk Valley and parts of Central New York.

In addition to traditional banking, Arrow Financial has developed a robust wealth management and trust services division.

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