Arrow Financial Co. (NASDAQ:AROW) Short Interest Down 6.2% in June

Arrow Financial Co. (NASDAQ:AROW) was the target of a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 126,300 shares, a decline of 6.2% from the May 31st total of 134,600 shares. Based on an average daily trading volume, of 37,200 shares, the short-interest ratio is presently 3.4 days.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Arrow Financial from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th.

Insider Activity at Arrow Financial

In other Arrow Financial news, Director Raymond F. O’conor sold 4,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $23.63, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arrow Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. Arrow Financial Corp grew its stake in shares of Arrow Financial by 5.8% during the first quarter. Arrow Financial Corp now owns 1,826,880 shares of the financial services provider’s stock worth $45,709,000 after buying an additional 100,355 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Arrow Financial by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 795,274 shares of the financial services provider’s stock valued at $19,898,000 after acquiring an additional 10,636 shares in the last quarter. Franklin Resources Inc. grew its position in Arrow Financial by 7.2% during the 4th quarter. Franklin Resources Inc. now owns 134,806 shares of the financial services provider’s stock worth $3,766,000 after acquiring an additional 9,094 shares during the last quarter. Trust Co. of Vermont increased its holdings in Arrow Financial by 3.0% in the 3rd quarter. Trust Co. of Vermont now owns 39,105 shares of the financial services provider’s stock worth $666,000 after purchasing an additional 1,137 shares in the last quarter. Finally, ClariVest Asset Management LLC raised its position in Arrow Financial by 19.7% in the first quarter. ClariVest Asset Management LLC now owns 36,230 shares of the financial services provider’s stock valued at $906,000 after purchasing an additional 5,952 shares during the last quarter. 46.71% of the stock is currently owned by institutional investors and hedge funds.

Arrow Financial Trading Down 1.6 %

Shares of AROW stock opened at $25.68 on Thursday. Arrow Financial has a fifty-two week low of $16.65 and a fifty-two week high of $29.66. The stock’s fifty day moving average price is $24.50 and its two-hundred day moving average price is $24.87. 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 company has a market cap of $428.86 million, a PE ratio of 14.93 and a beta of 0.74.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02). Arrow Financial had a return on equity of 7.89% and a net margin of 14.34%. The business had revenue of $54.54 million for the quarter, compared to the consensus estimate of $33.29 million. Equities analysts predict that Arrow Financial will post 2.29 EPS for the current fiscal year.

Arrow Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 13th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.21%. Arrow Financial’s payout ratio is currently 62.81%.

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.