Arrow Financial Co. (NASDAQ:AROW) Sees Significant Decline in Short Interest

Arrow Financial Co. (NASDAQ:AROW) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 105,500 shares, a drop of 15.2% from the December 31st total of 124,400 shares. Based on an average daily trading volume, of 43,500 shares, the short-interest ratio is presently 2.4 days.

Analyst Ratings Changes

A number of research firms have weighed in on AROW. Hovde Group lowered their target price on Arrow Financial from $34.50 to $32.00 and set a “market perform” rating for the company in a report on Friday, December 27th. Piper Sandler started coverage on Arrow Financial in a research note on Friday, December 20th. They set a “neutral” rating and a $32.00 price objective for the company.

Insider Buying and Selling

In other news, Director Raymond F. O’conor sold 2,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $28.85, for a total value of $57,700.00. Following the completion of the sale, the director now owns 35,859 shares in the company, valued at approximately $1,034,532.15. The trade was a 5.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 6,000 shares of company stock valued at $180,080 in the last 90 days. Company insiders own 3.55% of the company’s stock.

Institutional Investors Weigh In On Arrow Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AROW. BNP Paribas Financial Markets increased its holdings in Arrow Financial by 13.0% in the third quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock valued at $99,000 after buying an additional 398 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in Arrow Financial by 0.4% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 116,867 shares of the financial services provider’s stock valued at $3,349,000 after purchasing an additional 454 shares during the last quarter. State Street Corp lifted its stake in shares of Arrow Financial by 0.3% in the third quarter. State Street Corp now owns 393,719 shares of the financial services provider’s stock worth $11,284,000 after buying an additional 1,022 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of 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 during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in Arrow Financial by 0.9% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 118,630 shares of the financial services provider’s stock valued at $3,400,000 after buying an additional 1,100 shares in the last quarter. 46.71% of the stock is owned by institutional investors and hedge funds.

Arrow Financial Stock Down 1.7 %

Shares of Arrow Financial stock traded down $0.45 on Friday, reaching $26.61. The stock had a trading volume of 44,507 shares, compared to its average volume of 35,430. 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 stock has a market capitalization of $445.45 million, a P/E ratio of 13.58 and a beta of 0.77. Arrow Financial has a 1 year low of $21.50 and a 1 year high of $34.63. The company has a 50 day moving average price of $29.23 and a 200 day moving average price of $29.49.

Arrow Financial (NASDAQ:AROW) last released its earnings results on Thursday, January 30th. The financial services provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.12). Arrow Financial had a return on equity of 8.59% and a net margin of 15.00%. As a group, equities research analysts forecast that Arrow Financial will post 2.11 EPS for the current year.

Arrow Financial Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, February 24th. Shareholders of record on Tuesday, February 11th will be paid a dividend of $0.28 per share. This represents a yield of 4.21%. This is a boost from Arrow Financial’s previous dividend of $0.25. The ex-dividend date is Monday, February 10th. Arrow Financial’s payout ratio is presently 57.14%.

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.