Arrow Financial Co. (NASDAQ:AROW) Short Interest Update

Arrow Financial Co. (NASDAQ:AROW) was the target of a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 105,500 shares, a drop of 15.2% from the December 31st total of 124,400 shares. Based on an average daily volume of 43,500 shares, the short-interest ratio is currently 2.4 days.

Insider Buying and Selling

In other Arrow Financial news, Director Raymond F. O’conor sold 2,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $28.85, for a total transaction of $57,700.00. Following the transaction, the director now owns 35,859 shares of the company’s stock, valued at approximately $1,034,532.15. This trade represents a 5.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.55% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its holdings in Arrow Financial by 13.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock valued at $99,000 after buying an additional 398 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Arrow Financial in the 3rd quarter valued at $164,000. Carl P. Sherr & Co. LLC bought a new position in shares of Arrow Financial in the third quarter worth about $216,000. Atria Investments Inc grew its stake in shares of 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 buying an additional 4,148 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings 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 in the last quarter. 46.71% of the stock is currently owned by institutional investors.

Arrow Financial Price Performance

Shares of Arrow Financial stock traded down $0.90 during mid-day trading on Monday, reaching $25.72. 24,272 shares of the stock were exchanged, compared to its average volume of 39,589. The company has a market cap of $430.47 million, a price-to-earnings ratio of 14.53 and a beta of 0.76. Arrow Financial has a fifty-two week low of $21.50 and a fifty-two week high of $34.63. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06. The firm has a 50-day simple moving average of $29.23 and a 200 day simple moving average of $29.49.

Arrow Financial (NASDAQ:AROW) last released its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.47 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 predict that Arrow Financial will post 2.7 EPS for the current fiscal year.

Arrow Financial Increases Dividend

The company also recently announced a dividend, which will be paid on Monday, February 24th. Investors of record on Tuesday, February 11th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Monday, February 10th. This is a boost from Arrow Financial’s previous dividend of $0.25. This represents a dividend yield of 4.21%. Arrow Financial’s dividend payout ratio (DPR) is currently 63.28%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AROW shares. Hovde Group decreased 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 report on Friday, December 27th. Piper Sandler initiated coverage on Arrow Financial in a research note on Friday, December 20th. They set a “neutral” rating and a $32.00 target price 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.