Arrow Financial's (AROW) "Hold (C)" Rating Reaffirmed at Weiss Ratings

Key Points

• Arrow Financial's stock has been given a "Hold (C)" rating by Weiss Ratings, indicating a cautious outlook on the company.
• The company reported $0.70 earnings per share, surpassing expectations, with revenue of $51.57 million for the quarter, significantly above the consensus estimate.
• Insider trading activity includes CFO Krassimir Ivanov purchasing 10,922 shares, increasing their ownership by 124.21%.

Arrow Financial (NASDAQ:AROW - Get Free Report)'s stock had its "hold (c)" rating reiterated by analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities research analysts also 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 lifted their price target 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. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $28.25.

Arrow Financial Stock Down 0.4%

AROW traded down $0.12 during midday trading on Wednesday, hitting $27.31. The company had a trading volume of 28,088 shares, compared to its average volume of 42,089. Arrow Financial has a 52 week low of $22.72 and a 52 week high of $34.63. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $449.80 million, a price-to-earnings ratio of 14.92 and a beta of 0.79. The stock's 50 day moving average price is $28.46 and its 200 day moving average price is $26.79.

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 for the quarter, beating 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 during the quarter, compared to the consensus estimate of $39.83 million. On average, research analysts anticipate that Arrow Financial will post 2.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Penko Krassimir Ivanov purchased 10,922 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The shares were acquired at an average cost of $29.46 per share, for a total transaction of $321,762.12. Following the completion of the acquisition, the chief financial officer 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought 18,425 shares of company stock worth $536,783 in the last 90 days. 3.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AROW. Nuveen LLC bought a new position in shares of Arrow Financial during the 1st quarter valued at approximately $1,530,000. Martingale Asset Management L P bought a new stake in shares of Arrow Financial in the 1st quarter worth approximately $925,000. Deutsche Bank AG raised its holdings in shares of Arrow Financial by 268.2% in the 1st quarter. Deutsche Bank AG now owns 42,407 shares of the financial services provider's stock worth $1,115,000 after purchasing an additional 30,891 shares during the period. Vanguard Group Inc. raised its holdings in shares of Arrow Financial by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 833,728 shares of the financial services provider's stock worth $21,919,000 after purchasing an additional 30,459 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Arrow Financial in the 2nd quarter worth approximately $616,000. 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.

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