Arrow Financial Co. (NASDAQ:AROW) Director Sells $51,880.00 in Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $25.94, for a total value of $51,880.00. Following the sale, the director now owns 31,022 shares in the company, valued at $804,710.68. This represents a 6.06 % 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 0.1 %

Shares of NASDAQ:AROW opened at $26.33 on Thursday. The business has a fifty day simple moving average of $26.64 and a 200 day simple moving average of $28.65. Arrow Financial Co. has a 12-month low of $21.50 and a 12-month high of $34.63. The firm has a market cap of $440.18 million, a P/E ratio of 14.88 and a beta of 0.73. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06.

Arrow Financial (NASDAQ:AROW) last posted 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 return on equity of 8.59% and a net margin of 13.32%. Analysts predict that Arrow Financial Co. will post 2.65 earnings per share for the current year.

Arrow Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, February 10th were paid a $0.28 dividend. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.25. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend was Monday, February 10th. Arrow Financial’s dividend payout ratio is currently 63.28%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AROW shares. Hovde Group cut their price target on 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. Piper Sandler reduced their target price on shares of Arrow Financial from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th.

Hedge Funds Weigh In On Arrow Financial

A number of hedge funds have recently bought and sold shares of the company. Rhino Investment Partners Inc bought a new stake in Arrow Financial during the fourth quarter valued at $5,458,000. JPMorgan Chase & Co. grew its stake in Arrow Financial by 202.5% during the fourth quarter. JPMorgan Chase & Co. now owns 56,571 shares of the financial services provider’s stock worth $1,624,000 after purchasing an additional 37,869 shares during the period. Raymond James Financial Inc. acquired a new stake in Arrow Financial during the fourth quarter worth approximately $1,072,000. Squarepoint Ops LLC bought a new stake in Arrow Financial in the fourth quarter worth approximately $800,000. Finally, Voya Investment Management LLC lifted its stake in Arrow Financial by 15.5% in the fourth quarter. Voya Investment Management LLC now owns 178,680 shares of the financial services provider’s stock valued at $5,130,000 after buying an additional 24,036 shares during the period. Institutional investors own 46.71% of the company’s stock.

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.