Insider Selling: Arrow Financial Co. (NASDAQ:AROW) Director Sells 2,000 Shares of Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $26.90, for a total value of $53,800.00. Following the completion of the sale, the director now owns 33,022 shares in the company, valued at $888,291.80. This represents a 5.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Arrow Financial Price Performance

Shares of NASDAQ AROW opened at $26.11 on Thursday. The stock has a market cap of $437.06 million, a P/E ratio of 14.75 and a beta of 0.76. Arrow Financial Co. has a twelve month low of $21.50 and a twelve month high of $34.63. The stock has a 50 day moving average of $27.13 and a two-hundred day moving average of $29.06. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.12). Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%. On average, research analysts forecast that Arrow Financial Co. will post 2.65 earnings per share for the current year.

Arrow Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, February 10th were issued a $0.28 dividend. 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 4.29%. The ex-dividend date of this dividend was Monday, February 10th. Arrow Financial’s dividend payout ratio (DPR) is currently 63.28%.

Institutional Investors Weigh In On Arrow Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Arrow Financial Corp lifted its position in shares of Arrow Financial by 1.2% during the 3rd quarter. Arrow Financial Corp now owns 1,969,793 shares of the financial services provider’s stock valued at $56,454,000 after acquiring an additional 23,198 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Arrow Financial by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 736,569 shares of the financial services provider’s stock valued at $21,147,000 after buying an additional 12,798 shares in the last quarter. State Street Corp raised its stake in shares of Arrow Financial by 0.3% during the 3rd 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 during the last quarter. American Century Companies Inc. boosted its position in shares of Arrow Financial by 4.3% in the 4th quarter. American Century Companies Inc. now owns 304,964 shares of the financial services provider’s stock worth $8,756,000 after buying an additional 12,581 shares in the last quarter. Finally, Rhino Investment Partners Inc acquired a new stake in Arrow Financial in the 4th quarter valued at about $5,458,000. Institutional investors and hedge funds own 46.71% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on AROW. Hovde Group lowered their price objective on shares of Arrow Financial from $34.50 to $32.00 and set a “market perform” rating for the company in a research note on Friday, December 27th. Piper Sandler dropped their price target on shares of Arrow Financial from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th.

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.