Arrow Financial Co. (NASDAQ:AROW) Director Sells $50,560.00 in Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $25.28, for a total value of $50,560.00. Following the completion of the sale, the director now owns 35,022 shares in the company, valued at $885,356.16. The trade was a 5.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Arrow Financial Trading Up 1.5 %

NASDAQ:AROW opened at $27.33 on Thursday. The stock has a market cap of $457.50 million, a price-to-earnings ratio of 15.44 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.93 and a current ratio of 0.93. Arrow Financial Co. has a 1 year low of $21.50 and a 1 year high of $34.63. The business has a fifty day moving average of $28.96 and a 200-day moving average of $29.44.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings data 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 13.32%. Equities analysts predict that Arrow Financial Co. will post 2.7 earnings per share for the current year.

Arrow Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 10th will be issued a $0.28 dividend. The ex-dividend date is Monday, February 10th. This is a boost from Arrow Financial’s previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a dividend yield of 4.10%. Arrow Financial’s dividend payout ratio (DPR) is 63.28%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its stake in Arrow Financial by 13.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 398 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Arrow Financial in the third quarter valued at $164,000. Carl P. Sherr & Co. LLC bought a new position in Arrow Financial during the third quarter valued at about $216,000. Atria Investments Inc grew its holdings in Arrow Financial by 32.6% during the third quarter. Atria Investments Inc now owns 16,856 shares of the financial services provider’s stock worth $483,000 after acquiring an additional 4,148 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Arrow Financial by 137.8% in the third quarter. JPMorgan Chase & Co. now owns 18,702 shares of the financial services provider’s stock worth $536,000 after acquiring an additional 10,838 shares in the last quarter. Institutional investors and hedge funds own 46.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AROW shares. Piper Sandler cut their price objective on shares of Arrow Financial from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday. Hovde Group dropped their price target on shares of Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a research note on Friday, December 27th.

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.