Arrow Financial Corporation (NASDAQ:AROW - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $26.60 and traded as high as $29.81. Arrow Financial shares last traded at $29.36, with a volume of 110,833 shares trading hands.
Wall Street Analysts Forecast Growth
AROW has been the subject of a number of research analyst reports. Wall Street Zen raised Arrow Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Hovde Group upped their price target on Arrow Financial from $27.50 to $28.50 and gave the company a "market perform" rating in a report on Friday, July 25th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $28.25.
Read Our Latest Report on Arrow Financial
Arrow Financial Stock Performance
The stock has a market cap of $489.49 million, a price-to-earnings ratio of 16.24 and a beta of 0.83. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06. The stock's 50-day moving average is $28.18 and its 200-day moving average is $26.62.
Arrow Financial (NASDAQ:AROW - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. Arrow Financial had a return on equity of 8.64% and a net margin of 13.28%.The business had revenue of $51.57 million for the quarter, compared to the consensus estimate of $39.83 million. On average, analysts expect that Arrow Financial Corporation will post 2.65 EPS for the current year.
Arrow Financial Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were issued a dividend of $0.29 per share. The ex-dividend date was Monday, August 11th. This represents a $1.16 annualized dividend and a yield of 3.9%. This is a boost from Arrow Financial's previous quarterly dividend of $0.28. Arrow Financial's dividend payout ratio (DPR) is presently 63.39%.
Insider Activity at Arrow Financial
In other news, CFO Penko Krassimir Ivanov bought 10,922 shares of the firm's stock in a transaction dated Wednesday, August 27th. The stock was bought at an average price of $29.46 per share, for a total transaction of $321,762.12. Following the transaction, the chief financial officer owned 19,715 shares in the company, valued at $580,803.90. The trade was a 124.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders purchased 18,425 shares of company stock valued at $536,783. 3.28% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Arrow Financial by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 833,728 shares of the financial services provider's stock worth $21,919,000 after acquiring an additional 30,459 shares during the period. Nuveen LLC bought a new stake in shares of Arrow Financial in the 1st quarter worth $1,530,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Arrow Financial in the 1st quarter worth $482,000. GAMMA Investing LLC raised its stake in shares of Arrow Financial by 3,616.8% in the 1st quarter. GAMMA Investing LLC now owns 23,267 shares of the financial services provider's stock worth $6,120,000 after buying an additional 22,641 shares in the last quarter. Finally, Angel Oak Capital Advisors LLC bought a new stake in shares of Arrow Financial in the 1st quarter worth $289,000. Institutional investors and hedge funds own 46.71% of the company's stock.
About Arrow Financial
(
Get Free Report)
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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