Arrow Financial Co. (NASDAQ:AROW) Director Sells $53,800.00 in Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $26.90, for a total transaction of $53,800.00. Following the completion of the transaction, the director now owns 33,022 shares in the company, valued at $888,291.80. This trade represents a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Arrow Financial Trading Up 0.6 %

Shares of Arrow Financial stock opened at $26.27 on Friday. The firm’s 50 day moving average is $27.07 and its 200 day moving average is $29.04. The firm has a market capitalization of $439.73 million, a PE ratio of 14.84 and a beta of 0.76. Arrow Financial Co. has a 1 year low of $21.50 and a 1 year high of $34.63. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06.

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 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%. Equities research analysts forecast that Arrow Financial Co. will post 2.65 earnings per share for the current fiscal year.

Arrow Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, February 10th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.26%. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, February 10th. Arrow Financial’s dividend payout ratio (DPR) is presently 63.28%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rhino Investment Partners Inc bought a new stake in Arrow Financial during the 4th quarter worth approximately $5,458,000. JPMorgan Chase & Co. grew its stake in shares of Arrow Financial by 202.5% in the fourth quarter. JPMorgan Chase & Co. now owns 56,571 shares of the financial services provider’s stock worth $1,624,000 after purchasing an additional 37,869 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Arrow Financial in the fourth quarter valued at $1,072,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Arrow Financial by 136.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,050 shares of the financial services provider’s stock worth $1,578,000 after purchasing an additional 31,741 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Arrow Financial during the 4th quarter worth about $800,000. Institutional investors and hedge funds own 46.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Hovde Group lowered their price objective on Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a research note on Friday, December 27th. Piper Sandler lowered their price target on Arrow Financial from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th.

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.