Arrow Financial Corporation (NASDAQ:AROW) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analyst sentiment is moderately positive: Six analysts give Arrow Financial an average “Moderate Buy” rating, split between three buys and three holds, with an average 12-month price target of $41.63.
• Shares are trading near recent averages: AROW opened at $39.57, compared with a 50-day moving average of $39.81 and a 200-day average of $37.22. The stock has a 52-week range of $25.88 to $42.70 and a market capitalization of approximately $733 million.
• Quarterly results were mixed, while the dividend remains attractive: Arrow Financial reported EPS of $0.71, below the $0.85 consensus estimate, but revenue of $52.44 million exceeded expectations. The company pays a $0.30 quarterly dividend, equal to a 3.0% yield and a 38.71% payout ratio.

Arrow Financial Corporation (NASDAQ:AROW - Get Free Report) has received an average rating of "Moderate Buy" from the six analysts that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $41.6250.

A number of equities analysts have weighed in on AROW shares. Raymond James Financial began coverage on shares of Arrow Financial in a research note on Tuesday, September 1st. They issued an "outperform" rating and a $44.00 target price for the company. Zacks Research raised shares of Arrow Financial to a "hold" rating in a report on Monday, June 15th. Keefe, Bruyette & Woods initiated coverage on shares of Arrow Financial in a research report on Thursday, June 25th. They issued a "market perform" rating and a $42.00 price objective for the company. Wall Street Zen lowered Arrow Financial from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Piper Sandler reissued an "overweight" rating and issued a $46.00 target price (up from $43.00) on shares of Arrow Financial in a research note on Tuesday, July 28th.

Insider Transactions at Arrow Financial

In related news, Director Mark Behan sold 4,110 shares of Arrow Financial stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $38.59, for a total value of $158,604.90. Following the completion of the sale, the director directly owned 8,929 shares in the company, valued at $344,570.11. This trade represents a 31.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its stake in shares of Arrow Financial by 951.5% in the 2nd quarter. California State Teachers Retirement System now owns 9,264 shares of the financial services provider's stock valued at $380,000 after purchasing an additional 8,383 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its stake in shares of Arrow Financial by 2.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 16,986 shares of the financial services provider's stock worth $696,000 after buying an additional 484 shares during the last quarter. Corient Private Wealth LP bought a new stake in shares of Arrow Financial during the second quarter worth approximately $253,000. Bank of America Corp DE acquired a new position in Arrow Financial in the second quarter valued at approximately $1,309,000. Finally, Gallagher Fiduciary Advisors LLC acquired a new position in Arrow Financial in the second quarter valued at approximately $1,029,000. 46.71% of the stock is currently owned by institutional investors and hedge funds.

Arrow Financial Stock Performance

Shares of NASDAQ:AROW opened at $39.57 on Tuesday. The business has a fifty day moving average of $39.81 and a 200-day moving average of $37.22. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.92 and a current ratio of 0.92. Arrow Financial has a twelve month low of $25.88 and a twelve month high of $42.70. The firm has a market cap of $732.84 million, a PE ratio of 12.76 and a beta of 0.75.

Arrow Financial (NASDAQ:AROW - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.14). Arrow Financial had a return on equity of 12.13% and a net margin of 20.56%.The company had revenue of $52.44 million for the quarter, compared to analyst estimates of $45.51 million. On average, equities research analysts predict that Arrow Financial will post 3.53 EPS for the current fiscal year.

Arrow Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, August 11th. Arrow Financial's dividend payout ratio is 38.71%.

Arrow Financial Company Profile

Arrow Financial Corporation is a bank holding company headquartered in Glens Falls, New York, that conducts its primary operations through its subsidiary, Glens Falls National Bank & Trust Company. The company provides a comprehensive suite of retail and commercial banking services, including checking and savings accounts, consumer and commercial lending, mortgage financing, and cash management solutions. Through its branch network, Arrow Financial serves individuals, small- and medium-sized businesses, and nonprofit organizations across the Adirondack region, Upper Hudson Valley, Mohawk Valley and parts of Central New York.

In addition to traditional banking, Arrow Financial has developed a robust wealth management and trust services division.

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