Arrow Financial (NASDAQ:AROW - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Thursday.
Separately, Piper Sandler reduced their target price on shares of Arrow Financial from $30.00 to $28.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th.
View Our Latest Research Report on Arrow Financial
Arrow Financial Price Performance
Shares of NASDAQ:AROW traded up $0.60 during midday trading on Thursday, hitting $26.22. The company had a trading volume of 19,048 shares, compared to its average volume of 42,593. Arrow Financial has a twelve month low of $22.72 and a twelve month high of $34.63. The stock has a market cap of $437.14 million, a price-to-earnings ratio of 14.87 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.93. The business's 50-day simple moving average is $25.40 and its 200-day simple moving average is $27.56.
Arrow Financial (NASDAQ:AROW - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.06). The company had revenue of $50.37 million during the quarter, compared to analyst estimates of $39.26 million. Arrow Financial had a return on equity of 8.59% and a net margin of 13.32%. On average, research analysts predict that Arrow Financial will post 2.65 earnings per share for the current year.
Insider Activity
In related news, Director Raymond F. O'conor sold 2,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $26.90, for a total transaction of $53,800.00. Following the completion of the sale, the director now directly owns 33,022 shares of the company's stock, valued at approximately $888,291.80. This trade represents a 5.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 6,000 shares of company stock valued at $153,240 in the last quarter. Insiders own 3.55% of the company's stock.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of AROW. Tower Research Capital LLC TRC raised its stake in shares of Arrow Financial by 130.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,241 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 703 shares during the period. SG Americas Securities LLC boosted its position in shares of Arrow Financial by 18.5% during the 4th quarter. SG Americas Securities LLC now owns 6,765 shares of the financial services provider's stock worth $194,000 after purchasing an additional 1,056 shares during the period. State of Tennessee Department of Treasury acquired a new stake in Arrow Financial in the 4th quarter valued at approximately $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Arrow Financial by 4.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,406 shares of the financial services provider's stock valued at $270,000 after purchasing an additional 436 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in Arrow Financial by 9.4% during the fourth quarter. MetLife Investment Management LLC now owns 10,076 shares of the financial services provider's stock worth $289,000 after purchasing an additional 866 shares in the last quarter. Institutional investors and hedge funds own 46.71% of the company's stock.
Arrow Financial Company Profile
(
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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