Wall Street Zen Upgrades Arrow Financial (NASDAQ:AROW) to "Hold"

Arrow Financial (NASDAQ:AROW - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

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

Arrow Financial Stock Performance

Shares of AROW opened at $27.07 on Friday. The business's 50 day moving average is $26.21 and its two-hundred day moving average is $26.26. Arrow Financial has a 52-week low of $22.72 and a 52-week high of $34.63. The firm has a market cap of $451.26 million, a price-to-earnings ratio of 15.92 and a beta of 0.78. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06.

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 12.51% and a return on equity of 8.01%. The business had revenue of $50.37 million during the quarter, compared to analyst estimates of $39.26 million. Analysts forecast that Arrow Financial will post 2.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Raymond F. O'conor sold 2,000 shares of the company's stock in a transaction on 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 transaction, the director directly owned 29,293 shares in the company, valued at $696,587.54. This represents a 6.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AROW. 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 buying an additional 786 shares during the last quarter. Atria Investments Inc grew its stake in 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 buying an additional 2,912 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Arrow Financial in the fourth quarter worth $1,072,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Arrow Financial by 42.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 78,548 shares of the financial services provider's stock worth $2,255,000 after purchasing an additional 23,498 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of Arrow Financial by 5.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 25,429 shares of the financial services provider's stock worth $730,000 after purchasing an additional 1,294 shares in the last quarter. 46.71% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.