Arrow Financial Co. (NASDAQ:AROW) Short Interest Update

Arrow Financial Co. (NASDAQ:AROW - Get Free Report) was the target of a significant drop in short interest in April. As of April 30th, there was short interest totalling 141,400 shares, a drop of 20.8% from the April 15th total of 178,600 shares. Based on an average daily trading volume, of 38,800 shares, the days-to-cover ratio is currently 3.6 days.

Insider Activity

In other news, Director Raymond F. O'conor sold 4,000 shares of the firm's stock in a transaction on Friday, May 10th. The stock was sold at an average price of $23.63, for a total value of $94,520.00. Following the completion of the transaction, the director now owns 46,419 shares in the company, valued at $1,096,880.97. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.91% of the company's stock.

Institutional Trading of Arrow Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC purchased a new stake in Arrow Financial in the 1st quarter valued at about $157,000. Vanguard Group Inc. grew its holdings in Arrow Financial by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 795,274 shares of the financial services provider's stock valued at $19,898,000 after buying an additional 10,636 shares during the period. State Board of Administration of Florida Retirement System acquired a new position in shares of Arrow Financial in the 1st quarter valued at about $201,000. ClariVest Asset Management LLC lifted its stake in shares of Arrow Financial by 19.7% in the 1st quarter. ClariVest Asset Management LLC now owns 36,230 shares of the financial services provider's stock valued at $906,000 after purchasing an additional 5,952 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of Arrow Financial by 7.7% in the 1st quarter. Empowered Funds LLC now owns 26,764 shares of the financial services provider's stock valued at $670,000 after purchasing an additional 1,925 shares in the last quarter. Hedge funds and other institutional investors own 46.71% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Arrow Financial from a "sell" rating to a "hold" rating in a research report on Thursday.

Arrow Financial Price Performance

Arrow Financial stock traded down $0.04 during midday trading on Monday, reaching $23.70. 46,708 shares of the company were exchanged, compared to its average volume of 40,144. The company has a market capitalization of $395.55 million, a price-to-earnings ratio of 13.78 and a beta of 0.72. The firm's 50-day simple moving average is $23.62 and its 200-day simple moving average is $24.83. Arrow Financial has a 1 year low of $16.65 and a 1 year high of $29.66. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.90 and a current ratio of 0.90.

Arrow Financial (NASDAQ:AROW - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). The business had revenue of $54.54 million during the quarter, compared to analysts' expectations of $33.29 million. Arrow Financial had a net margin of 14.34% and a return on equity of 7.95%. On average, analysts anticipate that Arrow Financial will post 2.29 EPS for the current year.

Arrow Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 13th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.56%. The ex-dividend date is Friday, May 10th. Arrow Financial's dividend payout ratio (DPR) is 62.81%.

About Arrow Financial

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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