Arrow Financial Co. (NASDAQ:AROW) Declares Dividend of $0.28

Arrow Financial Co. (NASDAQ:AROW) announced a dividend on Saturday, February 1st,investing.com reports. Investors of record on Tuesday, February 11th will be paid a dividend of 0.28 per share by the financial services provider on Monday, February 24th. This represents a yield of 4.21%. The ex-dividend date of this dividend is Monday, February 10th. This is an increase from Arrow Financial’s previous dividend of $0.25.

Arrow Financial has increased its dividend payment by an average of 4.4% annually over the last three years. Arrow Financial has a payout ratio of 37.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Arrow Financial to earn $2.70 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 41.5%.

Arrow Financial Price Performance

Shares of AROW opened at $26.61 on Monday. Arrow Financial has a fifty-two week low of $21.50 and a fifty-two week high of $34.63. The firm’s 50 day moving average price is $29.23 and its 200 day moving average price is $29.49. The company has a market cap of $445.42 million, a P/E ratio of 13.58 and a beta of 0.77. 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) last announced 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%. On average, research analysts forecast that Arrow Financial will post 2.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AROW. Piper Sandler began coverage on shares of Arrow Financial in a research note on Friday, December 20th. They set a “neutral” rating and a $32.00 target price on the stock. Hovde Group dropped their price objective on shares of Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a research report on Friday, December 27th.

Insider Buying and Selling at Arrow Financial

In other news, Director Raymond F. O’conor sold 2,000 shares of the company’s stock in a transaction on 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 transaction, the director now owns 35,859 shares in the company, valued at approximately $1,034,532.15. This represents a 5.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.55% of the company’s stock.

Arrow Financial Company Profile

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.