Wall Street Zen upgraded shares of Arrow Financial (NASDAQ:AROW - Free Report) from a sell rating to a hold rating in a research note released on Saturday.
Separately, Piper Sandler decreased their price target on shares of Arrow Financial from $30.00 to $28.00 and set a "neutral" rating on the stock in a report on Monday, May 5th.
Get Our Latest Stock Report on AROW
Arrow Financial Price Performance
Shares of Arrow Financial stock traded down $0.71 during trading on Friday, reaching $26.92. 18,484 shares of the company's stock were exchanged, compared to its average volume of 41,950. Arrow Financial has a 1-year low of $22.72 and a 1-year high of $34.63. The firm's 50-day moving average price is $26.26 and its 200 day moving average price is $26.22. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $448.67 million, a P/E ratio of 15.89 and a beta of 0.78.
Arrow Financial (NASDAQ:AROW - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.06). The company had revenue of $50.37 million for the quarter, compared to analysts' expectations of $39.26 million. Arrow Financial had a net margin of 12.51% and a return on equity of 8.01%. As a group, research analysts anticipate that Arrow Financial will post 2.65 earnings per share for the current year.
Arrow Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.16%. Arrow Financial's payout ratio is currently 65.88%.
Insider Activity
In related news, Director Raymond F. O'conor sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $23.78, for a total value of $47,560.00. Following the sale, the director owned 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.55% of the company's stock.
Hedge Funds Weigh In On Arrow Financial
Several institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its position in shares of Arrow Financial by 130.7% during the fourth 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. State of Tennessee Department of Treasury purchased a new position in Arrow Financial in the 4th quarter worth about $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Arrow Financial by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,796 shares of the financial services provider's stock valued at $258,000 after acquiring an additional 390 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Arrow Financial by 9.4% in the 4th quarter. MetLife Investment Management LLC now owns 10,076 shares of the financial services provider's stock valued at $289,000 after buying an additional 866 shares in the last quarter. Finally, Angel Oak Capital Advisors LLC acquired a new stake in Arrow Financial in the 1st quarter worth approximately $289,000. 46.71% of the stock is owned by institutional investors and hedge funds.
Arrow Financial Company Profile
(
Get Free Report)
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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