Piper Sandler Cuts Arrow Financial (NASDAQ:AROW) Price Target to $30.00

Arrow Financial (NASDAQ:AROW) had its price objective cut by stock analysts at Piper Sandler from $32.00 to $30.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective would suggest a potential upside of 15.21% from the stock’s previous close.

Separately, Hovde Group dropped their target price on shares of Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a research note on Friday, December 27th.

Arrow Financial Stock Performance

Shares of AROW opened at $26.04 on Tuesday. The stock has a 50 day moving average of $29.23 and a 200 day moving average of $29.49. 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 has a 12 month low of $21.50 and a 12 month high of $34.63. The company has a market capitalization of $435.91 million, a price-to-earnings ratio of 14.71 and a beta of 0.76.

Arrow Financial (NASDAQ:AROW) last announced its 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%. As a group, sell-side analysts forecast that Arrow Financial will post 2.7 earnings per share for the current year.

Insider Activity at Arrow Financial

In related news, Director Daniel James White bought 3,668 shares of the company’s stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $27.23 per share, for a total transaction of $99,879.64. Following the completion of the transaction, the director now directly owns 4,338 shares in the company, valued at approximately $118,123.74. The trade was a 547.46 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Raymond F. O’conor sold 2,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $25.28, for a total value of $50,560.00. Following the completion of the transaction, the director now directly owns 35,022 shares of the company’s stock, valued at $885,356.16. The trade was a 5.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,000 shares of company stock worth $173,640. 3.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its stake in Arrow Financial by 13.0% during the third 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 during the period. Rockefeller Capital Management L.P. raised its holdings in shares of Arrow Financial by 0.4% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 116,867 shares of the financial services provider’s stock valued at $3,349,000 after acquiring an additional 454 shares in the last quarter. State Street Corp boosted its position 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 valued at $11,284,000 after acquiring an additional 1,022 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Arrow Financial by 18.5% during the fourth 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 in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in shares of Arrow Financial by 0.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 118,630 shares of the financial services provider’s stock worth $3,400,000 after purchasing an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 46.71% of the company’s 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.