Arrow Financial (NASDAQ:AROW) Stock Price Crosses Above 200 Day Moving Average - Should You 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%.

Shares of Arrow Financial Corporation (NASDAQ:AROW - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

Analyst Ratings Changes

Several research analysts have weighed in on AROW shares. Wall Street Zen raised Arrow Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Hovde Group increased 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. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Arrow Financial currently has an average rating of "Hold" and a consensus price target of $28.25.

Arrow Financial Stock Performance

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 has a fifty day moving average price of $28.01 and a 200-day moving average price of $26.53. The firm has a market capitalization of $479.36 million, a price-to-earnings ratio of 15.86 and a beta of 0.83.

Arrow Financial (NASDAQ:AROW - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. Arrow Financial had a return on equity of 8.64% and a net margin of 13.28%.The company had revenue of $51.57 million during the quarter, compared to analysts' expectations of $39.83 million. As a group, analysts anticipate that Arrow Financial Corporation will post 2.65 earnings per share for the current fiscal 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 given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.0%. The ex-dividend date was Monday, August 11th. This is a positive change from Arrow Financial's previous quarterly dividend of $0.28. Arrow Financial's dividend payout ratio is presently 63.39%.

Insider Activity at Arrow Financial

In other Arrow Financial news, CFO Penko Krassimir Ivanov bought 5,000 shares of the stock in a transaction dated Wednesday, September 10th. The stock was bought at an average cost of $29.10 per share, for a total transaction of $145,500.00. Following the completion of the purchase, the chief financial officer owned 24,744 shares in the company, valued at $720,050.40. This represents a 25.32% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 18,425 shares of company stock worth $536,783 in the last quarter. 3.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its holdings in Arrow Financial by 67.2% in the second quarter. BNP Paribas Financial Markets now owns 1,612 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 648 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Arrow Financial by 306.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,390 shares of the financial services provider's stock worth $63,000 after acquiring an additional 1,802 shares during the last quarter. Raymond James Financial Inc. bought a new position in Arrow Financial during the 2nd quarter worth approximately $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Arrow Financial by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,796 shares of the financial services provider's stock worth $258,000 after acquiring an additional 390 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its stake in Arrow Financial by 25.3% during the 2nd quarter. Quantinno Capital Management LP now owns 10,092 shares of the financial services provider's stock worth $267,000 after acquiring an additional 2,035 shares during the last quarter. Institutional investors and hedge funds 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.