Arrow Financial Corporation (NASDAQ:AROW) Plans Quarterly Dividend of $0.30

Key Points

• Arrow Financial declared a quarterly dividend of $0.30 per share, payable November 23 to shareholders of record November 11. The dividend equates to $1.20 annually and a 3.1% yield.
• The dividend appears well covered, with a current payout ratio of 41.1% and an expected future payout ratio of 27.9% based on projected earnings.
• Arrow Financial reported quarterly EPS of $0.97, beating analyst expectations of $0.94, while revenue of $60.15 million also exceeded estimates. Its stock rose 1.7% to $38.67 during Thursday trading.

Arrow Financial Corporation (NASDAQ:AROW - Get Free Report) declared a quarterly dividend on Thursday, October 29th. Shareholders of record on Wednesday, November 11th will be given a dividend of $0.30 per share by the financial services provider on Monday, November 23rd. This represents a $1.20 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, November 10th.

Arrow Financial has a payout ratio of 41.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Arrow Financial to earn $4.30 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 27.9%.

Arrow Financial Stock Up 1.7%

NASDAQ:AROW traded up $0.64 during mid-day trading on Thursday, hitting $38.67. The stock had a trading volume of 80,569 shares, compared to its average volume of 88,381. Arrow Financial has a twelve month low of $26.46 and a twelve month high of $42.70. The stock has a 50-day simple moving average of $37.84 and a two-hundred day simple moving average of $36.83. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $716.32 million, a PE ratio of 12.47 and a beta of 0.76.

Arrow Financial (NASDAQ:AROW - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. The company had revenue of $60.15 million for the quarter, compared to analyst estimates of $57.82 million. Arrow Financial had a net margin of 20.56% and a return on equity of 12.13%. On average, equities research analysts anticipate that Arrow Financial will post 3.53 EPS for the current year.

About Arrow Financial

Arrow Financial Corporation NASDAQ: AROW is a bank holding company headquartered in Glens Falls, New York. Through its banking subsidiaries, the company provides commercial and consumer banking services to individuals, families, businesses and municipalities.

Arrow's offerings include checking and savings accounts, certificates of deposit, residential mortgages, home equity financing, consumer loans, commercial lending, treasury management and online banking. Through affiliated businesses, it also provides investment management, trust and financial planning services, as well as insurance products.

The company's banking operations serve communities primarily in eastern New York, including the Capital Region, the Adirondacks and the surrounding areas.

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