Arrow Financial (NASDAQ:AROW) Announces Earnings Results

Arrow Financial (NASDAQ:AROW) released its quarterly earnings data on Thursday. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, Zacks reports. Arrow Financial had a net margin of 14.34% and a return on equity of 7.89%. The company had revenue of $55.83 million during the quarter.

Arrow Financial Stock Performance

Shares of NASDAQ AROW traded down $0.24 during mid-day trading on Friday, hitting $32.17. 56,278 shares of the company were exchanged, compared to its average volume of 43,559. The stock has a 50 day simple moving average of $26.22 and a 200-day simple moving average of $24.95. Arrow Financial has a 1-year low of $16.65 and a 1-year high of $32.92. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $537.24 million, a price-to-earnings ratio of 18.71 and a beta of 0.74.

Arrow Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 12th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.36%. Arrow Financial’s payout ratio is 62.81%.

Insider Activity

In other Arrow Financial news, Director Raymond F. O’conor sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $23.63, for a total transaction of $94,520.00. Following the transaction, the director now owns 46,419 shares in the company, valued at approximately $1,096,880.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Arrow Financial from a “hold” rating to a “sell” rating in a research report on Monday.

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.