Arrow Financial (NASDAQ:AROW) Share Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Arrow Financial's stock price has recently surpassed its 200-day moving average of $26.50, reaching a high of $29.56 during trading.
• Analysts have provided mixed reviews, with Hovde Group raising its price objective to $28.50 and Wall Street Zen upgrading the stock from "sell" to "hold."
• The company recently increased its quarterly dividend from $0.28 to $0.29 per share, resulting in an annualized dividend of $1.16 and a yield of 3.9%.

Arrow Financial Corporation (NASDAQ:AROW - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $26.50 and traded as high as $29.56. Arrow Financial shares last traded at $29.38, with a volume of 31,647 shares.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wall Street Zen upgraded Arrow Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Hovde Group increased their price target on Arrow Financial from $27.50 to $28.50 and gave the stock a "market perform" rating in a research note on Friday, July 25th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $28.25.

Arrow Financial Price Performance

The firm has a market capitalization of $479.97 million, a P/E ratio of 15.82 and a beta of 0.83. The business's fifty day moving average is $28.03 and its 200 day moving average is $26.54. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06.

Arrow Financial (NASDAQ:AROW - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.08. Arrow Financial had a net margin of 13.28% and a return on equity of 8.64%. The firm had revenue of $51.57 million for the quarter, compared to analyst estimates of $39.83 million. As a group, analysts forecast that Arrow Financial Corporation will post 2.65 EPS for the current year.

Arrow Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were issued a dividend of $0.29 per share. This is an increase from Arrow Financial's previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Monday, August 11th. Arrow Financial's dividend payout ratio (DPR) is presently 63.39%.

Insiders Place Their Bets

In other news, CFO Penko Krassimir Ivanov bought 10,922 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were bought at an average cost of $29.46 per share, with a total value of $321,762.12. Following the purchase, the chief financial officer directly owned 19,715 shares in the company, valued at $580,803.90. This trade represents a 124.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have purchased 18,425 shares of company stock worth $536,783. Insiders own 3.28% of the company's stock.

Institutional Investors Weigh In On Arrow Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Arrow Financial by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 833,728 shares of the financial services provider's stock valued at $21,919,000 after buying an additional 30,459 shares during the period. Nuveen LLC acquired a new stake in Arrow Financial during the first quarter valued at $1,530,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Arrow Financial in the first quarter valued at about $482,000. GAMMA Investing LLC increased its position in 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 purchasing an additional 22,641 shares during the last quarter. Finally, Angel Oak Capital Advisors LLC purchased a new stake in shares of Arrow Financial during the 1st quarter worth about $289,000. Hedge funds and other 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.