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

Arrow Financial Co. (NASDAQ:AROW) was the target of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 125,300 shares, a decrease of 6.2% from the November 15th total of 133,600 shares. Based on an average daily trading volume, of 39,300 shares, the days-to-cover ratio is currently 3.2 days.

Insider Buying and Selling at Arrow Financial

In other news, Director Raymond F. O’conor sold 2,000 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $28.50, for a total transaction of $57,000.00. Following the sale, the director now owns 39,496 shares in the company, valued at approximately $1,125,636. The trade was a 4.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 6,000 shares of company stock valued at $178,460. 3.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Arrow Financial Corp lifted its stake in shares of Arrow Financial by 1.2% in the 3rd quarter. Arrow Financial Corp now owns 1,969,793 shares of the financial services provider’s stock valued at $56,454,000 after purchasing an additional 23,198 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Arrow Financial by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 700,253 shares of the financial services provider’s stock worth $18,241,000 after acquiring an additional 31,268 shares during the period. State Street Corp boosted its stake 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 worth $11,284,000 after acquiring an additional 1,022 shares in the last quarter. American Century Companies Inc. grew its position in shares of Arrow Financial by 13.7% during the 2nd quarter. American Century Companies Inc. now owns 266,651 shares of the financial services provider’s stock valued at $6,946,000 after acquiring an additional 32,158 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of 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 valued at $3,369,000 after purchasing an additional 13,829 shares in the last quarter. 46.71% of the stock is owned by institutional investors and hedge funds.

Arrow Financial Stock Performance

AROW opened at $31.13 on Monday. 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 firm has a 50 day moving average of $31.00 and a two-hundred day moving average of $28.93. The firm has a market capitalization of $521.12 million, a PE ratio of 15.88 and a beta of 0.75.

Arrow Financial (NASDAQ:AROW) last posted its earnings results on Thursday, October 31st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. The company had revenue of $57.58 million during the quarter. Arrow Financial had a net margin of 15.00% and a return on equity of 8.59%.

Arrow Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Tuesday, October 15th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 3.60%. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, October 15th. Arrow Financial’s dividend payout ratio (DPR) is 57.14%.

Wall Street Analyst Weigh In

Separately, Hovde Group began coverage on shares of Arrow Financial in a research note on Monday, September 9th. They set a “market perform” rating and a $31.00 price target on the 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.