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

Arrow Financial Co. (NASDAQ:AROW) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 124,400 shares, a growth of 8.3% from the December 31st total of 114,900 shares. Based on an average daily volume of 41,800 shares, the days-to-cover ratio is currently 3.0 days.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AROW. Piper Sandler initiated coverage on shares of Arrow Financial in a research report on Friday, December 20th. They issued a “neutral” rating and a $32.00 price objective for the company. Hovde Group decreased their target price on 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.

Insider Transactions at Arrow Financial

In other Arrow Financial news, Director Raymond F. O’conor sold 2,000 shares of Arrow Financial stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $25.28, for a total transaction of $50,560.00. Following the completion of the transaction, the director now owns 35,022 shares in the company, valued at approximately $885,356.16. The trade was a 5.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel James White acquired 3,668 shares of the stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $27.23 per share, with a total value of $99,879.64. Following the completion of the purchase, the director now owns 4,338 shares of the company’s stock, valued at approximately $118,123.74. The trade was a 547.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 6,000 shares of company stock valued at $173,640 over the last ninety days. 3.55% of the stock is owned by company insiders.

Institutional Trading of Arrow Financial

A number of institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets raised its holdings 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 acquiring an additional 398 shares during the period. SG Americas Securities LLC bought a new stake in shares of Arrow Financial during the 3rd quarter valued at $164,000. Carl P. Sherr & Co. LLC purchased a new stake in Arrow Financial during the 3rd quarter worth about $216,000. Atria Investments Inc boosted its stake in Arrow Financial by 32.6% in the 3rd quarter. Atria Investments Inc now owns 16,856 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 4,148 shares during the period. Finally, JPMorgan Chase & Co. increased its position 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 valued at $536,000 after buying an additional 10,838 shares during the period. 46.71% of the stock is currently owned by hedge funds and other institutional investors.

Arrow Financial Trading Down 2.1 %

NASDAQ:AROW opened at $26.04 on Tuesday. Arrow Financial has a 12 month low of $21.50 and a 12 month 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’s 50 day moving average is $29.23 and its 200 day moving average is $29.49. The stock has a market capitalization of $435.91 million, a PE ratio of 14.71 and a beta of 0.76.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings results 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%. Sell-side analysts expect that Arrow Financial will post 2.7 earnings per share for the current year.

Arrow Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 10th will be paid a $0.28 dividend. This is an increase from Arrow Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.12 annualized dividend and a dividend yield of 4.30%. Arrow Financial’s dividend payout ratio (DPR) is presently 63.28%.

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.