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

Arrow Financial Co. (NASDAQ:AROW) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 124,400 shares, an increase of 8.3% from the December 31st total of 114,900 shares. Based on an average daily trading volume, of 41,800 shares, the days-to-cover ratio is currently 3.0 days.

Arrow Financial Trading Down 3.2 %

NASDAQ AROW traded down $0.84 during trading hours on Monday, hitting $25.77. 27,994 shares of the company’s stock were exchanged, compared to its average volume of 39,771. The business’s 50 day moving average is $29.23 and its 200-day moving average is $29.49. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.93 and a current ratio of 0.93. Arrow Financial has a 12-month low of $21.50 and a 12-month high of $34.63. The firm has a market capitalization of $431.39 million, a P/E ratio of 14.58 and a beta of 0.76.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.12). Arrow Financial had a return on equity of 8.59% and a net margin of 13.32%. As a group, analysts anticipate that Arrow Financial will post 2.7 EPS for the current fiscal year.

Arrow Financial Increases Dividend

The business also recently declared a dividend, which will be paid on Monday, February 24th. Shareholders of record on Tuesday, February 11th will be issued a $0.28 dividend. This represents a dividend yield of 4.21%. The ex-dividend date is Monday, February 10th. This is a positive change from Arrow Financial’s previous dividend of $0.25. Arrow Financial’s dividend payout ratio (DPR) is 63.28%.

Insiders Place Their Bets

In related news, Director Raymond F. O’conor sold 2,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $28.85, for a total transaction of $57,700.00. Following the transaction, the director now owns 35,859 shares of the company’s stock, valued at $1,034,532.15. This represents a 5.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.55% of the stock is owned by insiders.

Institutional Trading of Arrow Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers increased its position in shares of Arrow Financial by 5.6% in the fourth quarter. Rhumbline Advisers now owns 26,162 shares of the financial services provider’s stock worth $751,000 after acquiring an additional 1,392 shares in the last quarter. SG Americas Securities LLC grew its holdings in Arrow Financial by 18.5% during the 4th quarter. SG Americas Securities LLC now owns 6,765 shares of the financial services provider’s stock valued at $194,000 after purchasing an additional 1,056 shares in the last quarter. Trust Co. of Vermont increased its stake in Arrow Financial by 49.5% during the 4th quarter. Trust Co. of Vermont now owns 57,365 shares of the financial services provider’s stock worth $1,647,000 after buying an additional 19,000 shares during the period. JPMorgan Chase & Co. lifted its holdings in Arrow Financial by 137.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,702 shares of the financial services provider’s stock worth $536,000 after buying an additional 10,838 shares in the last quarter. Finally, Barclays PLC boosted its position in Arrow Financial by 251.9% in the 3rd quarter. Barclays PLC now owns 21,411 shares of the financial services provider’s stock valued at $614,000 after buying an additional 15,327 shares during the last quarter. 46.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AROW shares. Piper Sandler started coverage on shares of Arrow Financial in a report on Friday, December 20th. They issued a “neutral” rating and a $32.00 target price for the company. Hovde Group cut 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.

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.