Daniel James White Acquires 3,668 Shares of Arrow Financial Co. (NASDAQ:AROW) Stock

Arrow Financial Co. (NASDAQ:AROW) Director Daniel James White acquired 3,668 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was acquired at an average price of $27.23 per share, with a total value of $99,879.64. Following the completion of the transaction, the director now directly owns 4,338 shares of the company’s stock, valued at approximately $118,123.74. This represents a 547.46 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Arrow Financial Stock Down 2.1 %

Shares of Arrow Financial stock traded down $0.57 during trading hours on Monday, reaching $26.04. 59,519 shares of the company were exchanged, compared to its average volume of 40,929. The firm has a market cap of $435.91 million, a PE ratio of 14.71 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 stock’s fifty day moving average is $29.23 and its 200 day moving average is $29.49.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings data 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%. As a group, equities research analysts forecast 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. Shareholders of record on Monday, February 10th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.12 dividend on an annualized basis and a yield of 4.30%. This is a boost from Arrow Financial’s previous quarterly dividend of $0.25. Arrow Financial’s dividend payout ratio (DPR) is presently 63.28%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Arrow Financial by 136.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,050 shares of the financial services provider’s stock valued at $1,578,000 after acquiring an additional 31,741 shares in the last quarter. Arrow Financial Corp grew its position in shares of Arrow Financial by 1.2% during the third quarter. Arrow Financial Corp now owns 1,969,793 shares of the financial services provider’s stock worth $56,454,000 after acquiring an additional 23,198 shares during the last quarter. Trust Co. of Vermont raised its position in Arrow Financial by 49.5% in the 4th quarter. Trust Co. of Vermont now owns 57,365 shares of the financial services provider’s stock valued at $1,647,000 after purchasing an additional 19,000 shares during the last quarter. Barclays PLC increased its stake in Arrow Financial by 251.9% in the third quarter. Barclays PLC now owns 21,411 shares of the financial services provider’s stock valued at $614,000 after purchasing an additional 15,327 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Arrow Financial by 137.8% during the third quarter. JPMorgan Chase & Co. now owns 18,702 shares of the financial services provider’s stock worth $536,000 after buying an additional 10,838 shares during the period. 46.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on AROW. Hovde Group cut their target price 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 initiated coverage on Arrow Financial in a report on Friday, December 20th. They issued a “neutral” rating and a $32.00 price objective on the stock.

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.