Arrow Financial (NASDAQ:AROW) Director Daniel James White Buys 1,644 Shares

Arrow Financial Corporation (NASDAQ:AROW) Director Daniel James White acquired 1,644 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average cost of $30.14 per share, with a total value of $49,550.16. Following the completion of the acquisition, the director owned 6,890 shares of the company’s stock, valued at $207,664.60. The trade was a 31.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Arrow Financial Stock Performance

AROW stock traded up $0.20 during trading on Thursday, hitting $30.80. 2,901 shares of the company’s stock traded hands, compared to its average volume of 41,909. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. Arrow Financial Corporation has a 52 week low of $22.72 and a 52 week high of $34.47. The stock has a fifty day moving average price of $28.36 and a two-hundred day moving average price of $27.34. The stock has a market capitalization of $507.25 million, a price-to-earnings ratio of 16.83 and a beta of 0.83.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. Arrow Financial had a return on equity of 8.64% and a net margin of 13.28%.The firm had revenue of $8.07 million during the quarter, compared to the consensus estimate of $41.00 million. As a group, equities analysts anticipate that Arrow Financial Corporation will post 2.65 EPS for the current fiscal year.

Arrow Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Wednesday, November 12th will be given a dividend of $0.29 per share. The ex-dividend date is Wednesday, November 12th. This represents a $1.16 annualized dividend and a dividend yield of 3.8%. Arrow Financial’s payout ratio is currently 56.04%.

Institutional Investors Weigh In On Arrow Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its stake in shares of Arrow Financial by 67.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,612 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 648 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Arrow Financial by 2,045.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,523 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 1,452 shares in the last quarter. CWM LLC lifted its stake in Arrow Financial by 159.5% during the third quarter. CWM LLC now owns 1,754 shares of the financial services provider’s stock valued at $50,000 after buying an additional 1,078 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Arrow Financial by 306.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,390 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 1,802 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Arrow Financial during the second quarter valued at approximately $198,000. Institutional investors and hedge funds own 46.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AROW shares. Hovde Group upgraded shares of Arrow Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $28.50 to $33.50 in a research note on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Arrow Financial in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Arrow Financial currently has an average rating of “Hold” and an average price target of $30.75.

Arrow Financial Company Profile

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.