Arrow Financial Co. (AROW) To Go Ex-Dividend on May 10th

Arrow Financial Co. (NASDAQ:AROW) announced a quarterly dividend on Tuesday, April 30th, Zacks reports. Stockholders of record on Monday, May 13th will be paid a dividend of 0.27 per share by the financial services provider on Friday, May 24th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date is Friday, May 10th.

Arrow Financial has increased its dividend payment by an average of 4.3% annually over the last three years and has increased its dividend every year for the last 6 years. Arrow Financial has a dividend payout ratio of 41.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Arrow Financial to earn $2.82 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 38.3%.

Arrow Financial Stock Performance

Arrow Financial stock opened at $23.28 on Thursday. The firm has a fifty day simple moving average of $23.67 and a two-hundred day simple moving average of $24.52. Arrow Financial has a twelve month low of $16.65 and a twelve month high of $29.66. The company has a market capitalization of $388.54 million, a PE ratio of 13.12 and a beta of 0.70. 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 earnings results on Tuesday, April 30th. The financial services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02). The company had revenue of $54.54 million for the quarter, compared to analysts’ expectations of $33.29 million. Arrow Financial had a net margin of 15.69% and a return on equity of 8.21%. Research analysts expect that Arrow Financial will post 2.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. StockNews.com downgraded Arrow Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Hovde Group initiated coverage on shares of Arrow Financial in a research report on Tuesday, January 9th. They set a “market perform” rating on the 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.