Arrow Financial (NASDAQ:AROW) Stock Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Arrow Financial's stock price has crossed above its 200-day moving average of $26.74, trading at $28.30.
• The company's quarterly earnings report showed an EPS of $0.70, exceeding analysts' expectations of $0.62, with a revenue of $51.57 million.
• Arrow Financial has recently increased its quarterly dividend from $0.28 to $0.29 per share, now yielding 4.1% on an annual basis.

Shares of Arrow Financial Corporation (NASDAQ:AROW - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $26.74 and traded as high as $28.33. Arrow Financial shares last traded at $28.30, with a volume of 29,586 shares trading hands.

Wall Street Analysts Forecast Growth

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

Arrow Financial Stock Performance

The stock's 50 day moving average price is $28.40 and its 200 day moving average price is $26.74. 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 company has a market cap of $466.10 million, a price-to-earnings ratio of 15.46 and a beta of 0.83.

Arrow Financial (NASDAQ:AROW - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. Arrow Financial had a net margin of 13.28% and a return on equity of 8.64%. The company had revenue of $51.57 million during 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 fiscal year.

Arrow Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.1%. This is an increase from Arrow Financial's previous quarterly dividend of $0.28. Arrow Financial's dividend payout ratio is currently 63.39%.

Insider Activity at Arrow Financial

In related news, CFO Penko Krassimir Ivanov acquired 10,922 shares of the company's stock in a transaction dated Wednesday, August 27th. The stock was bought at an average price 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. The trade was a 124.21% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have bought 18,425 shares of company stock worth $536,783. Corporate insiders own 3.28% of the company's stock.

Institutional Trading of Arrow Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its position 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 purchasing an additional 1,802 shares in the last quarter. Gallagher Fiduciary Advisors LLC increased its position in Arrow Financial by 22.8% during the 2nd quarter. Gallagher Fiduciary Advisors LLC now owns 26,019 shares of the financial services provider's stock worth $687,000 after purchasing an additional 4,825 shares in the last quarter. BNP Paribas Financial Markets increased its position in Arrow Financial by 67.2% during the 2nd 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 in the last quarter. Ameriprise Financial Inc. increased its position in Arrow Financial by 33.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 26,354 shares of the financial services provider's stock worth $696,000 after purchasing an additional 6,618 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Arrow Financial during the 2nd quarter worth approximately $198,000. 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.

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