Arrow Financial (NASDAQ:AROW) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Arrow Financial (NASDAQ:AROW) from a sell rating to a hold rating in a report published on Friday.

Separately, Hovde Group started coverage on Arrow Financial in a research note on Tuesday, January 9th. They issued a market perform rating for the company.

Arrow Financial Stock Performance

NASDAQ AROW opened at $23.00 on Friday. The company has a market capitalization of $380.65 million, a price-to-earnings ratio of 12.96 and a beta of 0.70. Arrow Financial has a twelve month low of $16.65 and a twelve month high of $29.66. The stock has a fifty day simple moving average of $23.87 and a 200 day simple moving average of $24.31. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.07.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings results on Thursday, February 1st. The financial services provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Arrow Financial had a return on equity of 8.21% and a net margin of 15.69%. The business had revenue of $33.10 million for the quarter, compared to analyst estimates of $35.01 million. Sell-side analysts expect that Arrow Financial will post 2.33 EPS for the current year.

Arrow Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Monday, February 12th were given a $0.27 dividend. This is a boost from Arrow Financial’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 9th. This represents a $1.08 annualized dividend and a yield of 4.70%. Arrow Financial’s dividend payout ratio (DPR) is presently 60.87%.

Hedge Funds Weigh In On Arrow Financial

Several large investors have recently added to or reduced their stakes in the business. CWM LLC lifted its position in shares of Arrow Financial by 226.1% during the 3rd quarter. CWM LLC now owns 1,562 shares of the financial services provider’s stock worth $27,000 after buying an additional 1,083 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Arrow Financial by 136.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,630 shares of the financial services provider’s stock worth $28,000 after buying an additional 941 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Arrow Financial in the 4th quarter worth approximately $29,000. Strs Ohio bought a new stake in shares of Arrow Financial in the 3rd quarter worth approximately $40,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in shares of Arrow Financial in the 4th quarter worth approximately $53,000. Institutional investors own 46.71% of the company’s stock.

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.