Piper Sandler Lowers Arrow Financial (NASDAQ:AROW) Price Target to $28.00

Arrow Financial (NASDAQ:AROW - Get Free Report) had its price objective lowered by equities research analysts at Piper Sandler from $30.00 to $28.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. Piper Sandler's price target points to a potential upside of 10.34% from the company's previous close.

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

Arrow Financial Stock Up 0.1 %

NASDAQ:AROW traded up $0.03 on Monday, reaching $25.38. The stock had a trading volume of 15,545 shares, compared to its average volume of 42,389. Arrow Financial has a 12-month low of $22.72 and a 12-month high of $34.63. The stock has a market cap of $423.03 million, a P/E ratio of 14.34 and a beta of 0.78. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average of $25.45 and a 200 day moving average of $27.95.

Arrow Financial (NASDAQ:AROW - Get Free Report) last announced 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). Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%. The business had revenue of $50.37 million during the quarter, compared to analyst estimates of $39.26 million. On average, research analysts predict that Arrow Financial will post 2.65 earnings per share for the current year.

Insider Buying and Selling

In other Arrow Financial news, Director Raymond F. O'conor sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $25.94, for a total value of $51,880.00. Following the completion of the sale, the director now directly owns 31,022 shares in the company, valued at $804,710.68. This represents a 6.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 6,000 shares of company stock valued at $153,240. Insiders own 3.55% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in 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 worth $36,000 after buying an additional 703 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Arrow Financial by 18.5% in the 4th quarter. SG Americas Securities LLC now owns 6,765 shares of the financial services provider's stock valued at $194,000 after buying an additional 1,056 shares in the last quarter. State of Tennessee Department of Treasury acquired a new stake in Arrow Financial in the fourth quarter valued at approximately $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 worth $270,000 after acquiring an additional 436 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in Arrow Financial by 9.4% in 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. 46.71% of the stock is owned by hedge funds and other institutional investors.

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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