Arrow Financial (NASDAQ:AROW) Releases Earnings Results, Misses Expectations By $0.12 EPS

Arrow Financial (NASDAQ:AROW) posted its quarterly earnings data on Thursday. The financial services provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.12), Zacks reports. Arrow Financial had a return on equity of 8.59% and a net margin of 15.00%.

Arrow Financial Trading Down 2.1 %

AROW opened at $27.06 on Friday. The company has a fifty day moving average price of $29.48 and a two-hundred day moving average price of $29.52. Arrow Financial has a 1-year low of $21.50 and a 1-year high of $34.63. The company has a market cap of $452.98 million, a P/E ratio of 13.81 and a beta of 0.77. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AROW. Hovde Group decreased their price target on Arrow Financial from $34.50 to $32.00 and set a “market perform” rating for the company in a report on Friday, December 27th. Piper Sandler started coverage on Arrow Financial in a report on Friday, December 20th. They issued a “neutral” rating and a $32.00 target price for the company.

Insider Activity

In related news, Director Raymond F. O’conor sold 2,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $28.50, for a total value of $57,000.00. Following the sale, the director now owns 39,496 shares in the company, valued at $1,125,636. This represents a 4.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 6,000 shares of company stock worth $180,080 in the last three months. Company insiders own 3.55% 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.