Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor Sells 2,000 Shares

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $25.94, for a total value of $51,880.00. Following the completion of the transaction, the director now directly owns 31,022 shares of the company’s stock, valued at approximately $804,710.68. This represents a 6.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Arrow Financial Trading Up 0.2 %

Shares of AROW stock traded up $0.06 on Tuesday, hitting $26.35. 29,431 shares of the stock traded hands, compared to its average volume of 40,697. 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 Co. has a twelve month low of $21.50 and a twelve month high of $34.63. The firm’s 50-day moving average price is $26.69 and its two-hundred day moving average price is $28.68. The stock has a market capitalization of $440.52 million, a PE ratio of 14.89 and a beta of 0.73.

Arrow Financial (NASDAQ:AROW) last posted its earnings results 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 net margin of 13.32% and a return on equity of 8.59%. As a group, analysts anticipate that Arrow Financial Co. will post 2.65 EPS for the current year.

Arrow Financial Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on AROW. Piper Sandler cut their price objective on shares of Arrow Financial from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. 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.

Hedge Funds Weigh In On Arrow Financial

A number of hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its holdings in Arrow Financial by 130.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,241 shares of the financial services provider’s stock valued at $36,000 after buying an additional 703 shares during the period. BNP Paribas Financial Markets increased its position in shares of Arrow Financial by 13.0% during the third quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock valued at $99,000 after acquiring an additional 398 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Arrow Financial by 18.5% in the 4th quarter. SG Americas Securities LLC now owns 6,765 shares of the financial services provider’s stock valued at $194,000 after acquiring an additional 1,056 shares during the period. State of Tennessee Department of Treasury acquired a new position in shares of Arrow Financial in the 4th quarter worth approximately $198,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Arrow Financial by 4.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,406 shares of the financial services provider’s stock worth $270,000 after purchasing an additional 436 shares during the period. 46.71% of the stock is currently owned by hedge funds and other institutional investors.

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.