Arrow Financial Co. (NASDAQ:AROW – Get Rating) Director Colin L. Read sold 300 shares of Arrow Financial stock in a transaction dated Friday, January 13th. The shares were sold at an average price of $33.64, for a total transaction of $10,092.00. Following the completion of the transaction, the director now directly owns 13,919 shares of the company’s stock, valued at approximately $468,235.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Arrow Financial Stock Performance
Shares of NASDAQ AROW traded down $0.05 during mid-day trading on Friday, reaching $33.73. 19,663 shares of the company were exchanged, compared to its average volume of 15,529. The company’s 50-day simple moving average is $34.43 and its 200-day simple moving average is $33.00. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $557.52 million, a P/E ratio of 11.91 and a beta of 0.67. Arrow Financial Co. has a twelve month low of $28.50 and a twelve month high of $36.75.
Arrow Financial (NASDAQ:AROW – Get Rating) last posted its earnings results on Thursday, October 27th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.06. The company had revenue of $38.73 million during the quarter, compared to analysts’ expectations of $36.80 million. Arrow Financial had a net margin of 30.65% and a return on equity of 13.15%. As a group, research analysts predict that Arrow Financial Co. will post 3.02 earnings per share for the current year.
Arrow Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend was Wednesday, November 30th. Arrow Financial’s dividend payout ratio (DPR) is 38.07%.
Institutional Trading of Arrow Financial
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Arrow Financial Corp raised its stake in Arrow Financial by 3.3% in the 3rd quarter. Arrow Financial Corp now owns 1,576,398 shares of the financial services provider’s stock worth $45,432,000 after purchasing an additional 50,451 shares in the last quarter. BlackRock Inc. raised its stake in Arrow Financial by 2.2% in the 3rd quarter. BlackRock Inc. now owns 1,151,016 shares of the financial services provider’s stock worth $33,172,000 after purchasing an additional 24,798 shares in the last quarter. Vanguard Group Inc. raised its stake in Arrow Financial by 5.8% in the 3rd quarter. Vanguard Group Inc. now owns 724,570 shares of the financial services provider’s stock worth $20,881,000 after purchasing an additional 39,409 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Arrow Financial by 4.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 707,348 shares of the financial services provider’s stock worth $20,387,000 after purchasing an additional 29,610 shares in the last quarter. Finally, State Street Corp raised its stake in Arrow Financial by 6.9% in the 3rd quarter. State Street Corp now owns 373,053 shares of the financial services provider’s stock worth $10,751,000 after purchasing an additional 24,021 shares in the last quarter. Institutional investors and hedge funds own 44.18% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently commented on the stock. Piper Sandler decreased their price objective on shares of Arrow Financial to $33.00 in a research report on Wednesday, October 5th. StockNews.com began coverage on shares of Arrow Financial in a research note on Wednesday, October 12th. They set a “hold” rating for the company.
Arrow Financial Company Profile
(Get Rating)
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 improvements to commercial properties, as well as commercial construction and land development loans to finance projects.
Further Reading
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