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 Arrow Financial stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $25.28, for a total transaction of $50,560.00. Following the transaction, the director now directly owns 35,022 shares of the company’s stock, valued at $885,356.16. This represents a 5.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Arrow Financial Stock Down 2.1 %

Arrow Financial stock traded down $0.57 during mid-day trading on Monday, reaching $26.04. The stock had a trading volume of 59,519 shares, compared to its average volume of 40,929. The firm has a market capitalization of $435.91 million, a PE ratio of 14.71 and a beta of 0.76. Arrow Financial Co. has a fifty-two week low of $21.50 and a fifty-two week high of $34.63. The stock’s 50-day simple moving average is $29.23 and its 200-day simple moving average is $29.49. 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 (NASDAQ:AROW) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, sell-side analysts forecast that Arrow Financial Co. will post 2.7 EPS for the current fiscal year.

Arrow Financial Increases Dividend

The company also recently announced 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 represents a $1.12 annualized dividend and a dividend yield of 4.30%. This is an increase from Arrow Financial’s previous quarterly dividend of $0.25. Arrow Financial’s dividend payout ratio is currently 63.28%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AROW. Piper Sandler began coverage on Arrow Financial in a research note on Friday, December 20th. They issued a “neutral” rating and a $32.00 price objective on the stock. Hovde Group reduced 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 report on Friday, December 27th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AROW. Rhumbline Advisers raised its stake in shares of Arrow Financial by 5.6% during the 4th quarter. Rhumbline Advisers now owns 26,162 shares of the financial services provider’s stock worth $751,000 after purchasing an additional 1,392 shares during the period. SG Americas Securities LLC increased its stake 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. Trust Co. of Vermont raised its holdings in shares of 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 worth $1,647,000 after purchasing an additional 19,000 shares during the period. JPMorgan Chase & Co. lifted its stake 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 valued at $536,000 after purchasing an additional 10,838 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of Arrow Financial by 251.9% during the 3rd quarter. Barclays PLC now owns 21,411 shares of the financial services provider’s stock valued at $614,000 after buying an additional 15,327 shares during the last quarter. 46.71% of the stock is currently owned by hedge funds and other institutional investors.

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.