Piper Sandler Cuts Arrow Financial (NASDAQ:AROW) Price Target to $30.00

Arrow Financial (NASDAQ:AROW) had its price target decreased by investment analysts at Piper Sandler from $32.00 to $30.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price would suggest a potential upside of 9.77% from the company’s current price.

Separately, Hovde Group cut their target price on shares of Arrow Financial from $34.50 to $32.00 and set a “market perform” rating for the company in a research report on Friday, December 27th.

Arrow Financial Trading Up 1.5 %

Arrow Financial stock opened at $27.33 on Tuesday. Arrow Financial has a one year low of $21.50 and a one year high of $34.63. The business’s fifty day moving average is $28.96 and its 200 day moving average is $29.44. The stock has a market capitalization of $457.50 million, a PE ratio of 15.44 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.93.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.12). Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%. On average, sell-side analysts predict that Arrow Financial will post 2.7 EPS for the current year.

Insider Activity

In other 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 value of $57,700.00. Following the completion of the sale, the director now directly owns 35,859 shares in the company, valued at $1,034,532.15. This represents a 5.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Daniel James White bought 3,668 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average cost of $27.23 per share, for a total transaction of $99,879.64. Following the completion of the acquisition, the director now owns 4,338 shares in the company, valued at $118,123.74. This trade represents a 547.46 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 6,000 shares of company stock valued at $173,640 in the last quarter. 3.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its holdings in Arrow Financial by 13.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock worth $99,000 after buying an additional 398 shares during the period. SG Americas Securities LLC bought a new position in shares of Arrow Financial in the third quarter worth about $164,000. Carl P. Sherr & Co. LLC bought a new position in shares of Arrow Financial in the third quarter worth about $216,000. Atria Investments Inc grew its position in shares of Arrow Financial by 32.6% during the third quarter. Atria Investments Inc now owns 16,856 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 4,148 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Arrow Financial by 137.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,702 shares of the financial services provider’s stock valued at $536,000 after purchasing an additional 10,838 shares during the period. 46.71% of the stock is 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.