Michael B. Clarke Sells 6,279 Shares of Arrow Financial Corp. (AROW) Stock
Arrow Financial Corp. (NASDAQ:AROW) Director Michael B. Clarke sold 6,279 shares of the stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $37.71, for a total transaction of $236,781.09. Following the transaction, the director now directly owns 700 shares in the company, valued at approximately $26,397. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Arrow Financial Corp. (NASDAQ:AROW) opened at 38.40 on Monday. The company has a market cap of $517.13 million, a PE ratio of 19.45 and a beta of 0.50. Arrow Financial Corp. has a 12 month low of $23.83 and a 12 month high of $39.50. The stock’s 50 day moving average is $32.89 and its 200 day moving average is $31.27.
Arrow Financial Corp. (NASDAQ:AROW) last released its quarterly earnings data on Thursday, October 20th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. Arrow Financial Corp. had a net margin of 25.60% and a return on equity of 11.92%. Equities analysts predict that Arrow Financial Corp. will post $1.98 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Wednesday, November 30th. This is a positive change from Arrow Financial Corp.’s previous quarterly dividend of $0.24. Arrow Financial Corp.’s payout ratio is presently 49.10%.
About Arrow Financial Corp.
Arrow Financial Corporation (Arrow) is a bank holding company. The Company’s banking subsidiaries are Glens Falls National Bank and Trust Company (Glens Falls National) and Saratoga National Bank and Trust Company (Saratoga National). It operates in community banking industry segment. The Company’s business consists primarily of the ownership, supervision and control of its approximately two banks.
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