Arrow Financial (NASDAQ:AROW) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Arrow Financial (NASDAQ:AROW) from a sell rating to a hold rating in a report published on Tuesday morning.

Arrow Financial Stock Performance

NASDAQ AROW opened at $28.99 on Tuesday. The stock has a market cap of $484.13 million, a PE ratio of 16.86 and a beta of 0.74. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a 50-day moving average of $26.84 and a 200-day moving average of $25.11. Arrow Financial has a 52-week low of $16.65 and a 52-week high of $32.92.

Arrow Financial (NASDAQ:AROW) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.52 earnings per share for the quarter. Arrow Financial had a return on equity of 8.52% and a net margin of 14.94%. The business had revenue of $55.83 million during the quarter.

Arrow Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 12th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $1.08 annualized dividend and a yield of 3.73%. Arrow Financial’s dividend payout ratio is presently 62.81%.

Insider Buying and Selling

In other news, Director Raymond F. O’conor sold 4,000 shares of Arrow Financial stock in a transaction on Friday, May 10th. The stock was sold at an average price of $23.63, for a total value of $94,520.00. Following the transaction, the director now owns 46,419 shares in the company, valued at approximately $1,096,880.97. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AROW. Rhumbline Advisers increased its holdings in Arrow Financial by 6.4% in the 2nd quarter. Rhumbline Advisers now owns 24,650 shares of the financial services provider’s stock worth $642,000 after purchasing an additional 1,485 shares in the last quarter. IFG Advisory LLC acquired a new position in Arrow Financial in the 2nd quarter worth about $207,000. Arrow Financial Corp increased its holdings in Arrow Financial by 6.6% in the 2nd quarter. Arrow Financial Corp now owns 1,946,595 shares of the financial services provider’s stock worth $50,709,000 after purchasing an additional 119,715 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Arrow Financial by 12.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 129,326 shares of the financial services provider’s stock worth $3,369,000 after purchasing an additional 13,829 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Arrow Financial in the 1st quarter worth about $157,000. 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.