Arrow Financial (NASDAQ:AROW) Stock Passes Above 200 Day Moving Average of $25.56

Shares of Arrow Financial Co. (NASDAQ:AROW) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $25.56 and traded as high as $30.60. Arrow Financial shares last traded at $30.49, with a volume of 19,090 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Arrow Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th.

Arrow Financial Stock Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $509.12 million, a PE ratio of 17.73 and a beta of 0.74. The firm has a fifty day moving average price of $28.39 and a 200 day moving average price of $25.56.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter. Arrow Financial had a return on equity of 8.52% and a net margin of 14.94%. The firm had revenue of $55.83 million for the quarter.

Arrow Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 12th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date was Monday, August 12th. Arrow Financial’s dividend payout ratio is 62.79%.

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, August 15th. The stock was sold at an average price of $28.13, for a total transaction of $56,260.00. Following the transaction, the director now directly owns 45,176 shares of the company’s stock, valued at $1,270,800.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.55% of the company’s stock.

Institutional Trading of Arrow Financial

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Arrow Financial by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 700,253 shares of the financial services provider’s stock valued at $18,241,000 after acquiring an additional 31,268 shares in the last quarter. American Century Companies Inc. increased its stake 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 worth $6,946,000 after purchasing an additional 32,158 shares during the last quarter. ClariVest Asset Management LLC raised its holdings in shares of Arrow Financial by 2.8% during the 2nd quarter. ClariVest Asset Management LLC now owns 37,247 shares of the financial services provider’s stock valued at $970,000 after purchasing an additional 1,017 shares in the last quarter. Private Advisor Group LLC lifted its stake in shares of Arrow Financial by 74.1% in the 2nd quarter. Private Advisor Group LLC now owns 19,934 shares of the financial services provider’s stock valued at $519,000 after purchasing an additional 8,483 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Arrow Financial by 6.4% in the second quarter. Rhumbline Advisers now owns 24,650 shares of the financial services provider’s stock worth $642,000 after purchasing an additional 1,485 shares in the last quarter. 46.71% of the stock is currently owned by hedge funds and other institutional investors.

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.