Arrow Financial (NASDAQ:AROW) Stock Rating Lowered by Wall Street Zen

Wall Street Zen cut shares of Arrow Financial (NASDAQ:AROW - Free Report) from a hold rating to a sell rating in a research note issued to investors on Friday.

Separately, Piper Sandler cut their price objective on Arrow Financial from $30.00 to $28.00 and set a "neutral" rating on the stock in a report on Monday, May 5th.

Arrow Financial Trading Up 0.2%

NASDAQ:AROW traded up $0.05 on Friday, reaching $26.00. The company's stock had a trading volume of 28,136 shares, compared to its average volume of 42,317. Arrow Financial has a 12-month low of $22.72 and a 12-month high of $34.63. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. The firm has a market cap of $433.55 million, a price-to-earnings ratio of 14.69 and a beta of 0.78. The stock has a 50 day moving average price of $25.39 and a 200 day moving average price of $27.43.

Arrow Financial (NASDAQ:AROW - Get Free Report) last posted its earnings results on Thursday, May 1st. The financial services provider reported $0.38 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 analysts' expectations of $39.26 million. On average, equities analysts anticipate that Arrow Financial will post 2.65 EPS for the current fiscal year.

Arrow Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Tuesday, May 13th were paid a dividend of $0.28 per share. The ex-dividend date was Tuesday, May 13th. This represents a $1.12 annualized dividend and a yield of 4.31%. Arrow Financial's payout ratio is 65.88%.

Insider Buying and Selling

In related news, Director Raymond F. O'conor sold 2,000 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $26.90, for a total transaction of $53,800.00. Following the completion of the transaction, the director now directly owns 33,022 shares of the company's stock, valued at $888,291.80. The trade was a 5.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 6,000 shares of company stock valued at $153,240 in the last three months. 3.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AROW. SG Americas Securities LLC grew its stake in Arrow Financial by 18.5% during the 4th quarter. SG Americas Securities LLC now owns 6,765 shares of the financial services provider's stock worth $194,000 after purchasing an additional 1,056 shares in the last quarter. Rhumbline Advisers grew its stake in Arrow Financial by 5.6% during the 4th quarter. Rhumbline Advisers now owns 26,162 shares of the financial services provider's stock worth $751,000 after purchasing an additional 1,392 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Arrow Financial by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 126,779 shares of the financial services provider's stock worth $3,640,000 after purchasing an additional 786 shares in the last quarter. Atria Investments Inc boosted its position in shares of Arrow Financial by 17.3% during the 4th quarter. Atria Investments Inc now owns 19,768 shares of the financial services provider's stock worth $568,000 after acquiring an additional 2,912 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Arrow Financial during the 4th quarter worth about $1,072,000. 46.71% of the stock is owned by institutional investors and hedge funds.

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.