Wall Street Zen Upgrades Arrow Financial (NASDAQ:AROW) to Hold

Arrow Financial (NASDAQ:AROW - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Thursday.

Separately, Piper Sandler dropped their price objective on Arrow Financial from $30.00 to $28.00 and set a "neutral" rating for the company in a report on Monday, May 5th.

Arrow Financial Trading Down 1.2%

Shares of NASDAQ AROW traded down $0.32 during trading hours on Thursday, hitting $25.62. 63,842 shares of the company traded hands, compared to its average volume of 42,681. The stock has a market capitalization of $427.21 million, a price-to-earnings ratio of 14.47 and a beta of 0.78. 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's 50 day moving average price is $25.42 and its 200 day moving average price is $27.64. Arrow Financial has a 12 month low of $22.72 and a 12 month high of $34.63.

Arrow Financial (NASDAQ:AROW - Get Free Report) last released its earnings results on Thursday, May 1st. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.06). Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%. The company had revenue of $50.37 million for the quarter, compared to the consensus estimate of $39.26 million. On average, equities research analysts anticipate that Arrow Financial will post 2.65 earnings per share for the current fiscal year.

Insider Activity at Arrow Financial

In other Arrow Financial news, Director Raymond F. O'conor sold 2,000 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $25.94, for a total value of $51,880.00. Following the completion of the sale, the director now directly owns 31,022 shares in the company, valued at approximately $804,710.68. This represents a 6.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 6,000 shares of company stock worth $153,240 in the last quarter. 3.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arrow Financial

Several hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new stake in shares of Arrow Financial in the 1st quarter worth $311,000. Jane Street Group LLC lifted its holdings in shares of Arrow Financial by 131.3% in the 1st quarter. Jane Street Group LLC now owns 27,272 shares of the financial services provider's stock worth $717,000 after buying an additional 15,482 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Arrow Financial by 4.1% in 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 buying an additional 390 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Arrow Financial by 31.0% in the 1st quarter. AQR Capital Management LLC now owns 12,470 shares of the financial services provider's stock worth $328,000 after buying an additional 2,949 shares during the period. Finally, Rhino Investment Partners Inc lifted its holdings in shares of Arrow Financial by 3.3% in the 1st quarter. Rhino Investment Partners Inc now owns 196,282 shares of the financial services provider's stock worth $5,160,000 after buying an additional 6,190 shares during the period. 46.71% of the stock is currently owned by hedge funds and other institutional investors.

Arrow Financial Company Profile

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.