Arrow Financial (NASDAQ:AROW) Given New $28.00 Price Target at Piper Sandler

Arrow Financial (NASDAQ:AROW - Get Free Report) had its target price decreased by Piper Sandler from $30.00 to $28.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. Piper Sandler's price target points to a potential upside of 7.16% from the company's current price.

Separately, StockNews.com raised shares of Arrow Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd.

Arrow Financial Price Performance

NASDAQ:AROW traded down $0.12 during trading hours on Monday, reaching $26.13. 32,735 shares of the company traded hands, compared to its average volume of 42,650. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.93. The firm's 50-day moving average is $25.35 and its 200-day moving average is $27.85. The stock has a market cap of $435.61 million, a P/E ratio of 14.76 and a beta of 0.78. Arrow Financial has a 1-year low of $22.72 and a 1-year high of $34.63.

Arrow Financial (NASDAQ:AROW - Get Free Report) last released 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). The firm had revenue of $50.37 million during the quarter, compared to analysts' expectations of $39.26 million. Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%. Equities research analysts expect that Arrow Financial will post 2.65 earnings per share for the current fiscal 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 dated Thursday, May 1st. The stock was sold at an average price of $23.78, for a total transaction of $47,560.00. Following the completion of the sale, the director now directly owns 29,293 shares in the company, valued at $696,587.54. This represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 6,000 shares of company stock valued at $153,240. Insiders own 3.55% of the company's stock.

Institutional Trading of Arrow Financial

A number of institutional investors have recently modified their holdings of AROW. Vanguard Group Inc. lifted its position in Arrow Financial by 3.8% during the first quarter. Vanguard Group Inc. now owns 833,728 shares of the financial services provider's stock valued at $21,919,000 after buying an additional 30,459 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Arrow Financial by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 736,569 shares of the financial services provider's stock valued at $21,147,000 after purchasing an additional 12,798 shares in the last quarter. American Century Companies Inc. increased its holdings in Arrow Financial by 4.3% in the 4th quarter. American Century Companies Inc. now owns 304,964 shares of the financial services provider's stock valued at $8,756,000 after purchasing an additional 12,581 shares in the last quarter. Rhino Investment Partners Inc purchased a new position in Arrow Financial in the fourth quarter valued at about $5,458,000. Finally, Voya Investment Management LLC lifted its stake in shares of Arrow Financial by 15.5% during the fourth quarter. Voya Investment Management LLC now owns 178,680 shares of the financial services provider's stock worth $5,130,000 after purchasing an additional 24,036 shares in the last quarter. Hedge funds and other institutional investors own 46.71% of the company's stock.

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.