Insider Selling: Arrow Financial Co. (NASDAQ:AROW) Director Sells 2,000 Shares of Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of Arrow Financial stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through this hyperlink.

Arrow Financial Stock Up 0.2 %

NASDAQ AROW traded up $0.06 during trading hours on Tuesday, hitting $26.35. 29,431 shares of the company were exchanged, compared to its average volume of 40,697. The company has a 50 day moving average of $26.69 and a two-hundred day moving average of $28.68. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. The firm has a market cap of $440.52 million, a price-to-earnings ratio of 14.89 and a beta of 0.73. Arrow Financial Co. has a 52-week low of $21.50 and a 52-week high of $34.63.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.47 earnings per share 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%. Equities research analysts anticipate that Arrow Financial Co. will post 2.65 earnings per share for the current year.

Arrow Financial Increases Dividend

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

Institutional Investors Weigh In On Arrow Financial

Several hedge funds and other institutional investors have recently made changes to their positions in AROW. BNP Paribas Financial Markets increased its stake in Arrow Financial by 13.0% in the third quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 398 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Arrow Financial by 4.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,406 shares of the financial services provider’s stock valued at $270,000 after buying an additional 436 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Arrow Financial by 0.4% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 116,867 shares of the financial services provider’s stock valued at $3,349,000 after buying an additional 454 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Arrow Financial by 130.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,241 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 703 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Arrow Financial by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 126,779 shares of the financial services provider’s stock valued at $3,640,000 after acquiring an additional 786 shares during the last quarter. Institutional investors and hedge funds own 46.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AROW. Piper Sandler lowered their price objective on shares of Arrow Financial from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Hovde Group decreased their price target 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.

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.