Short Interest in Arrow Financial Corporation (NASDAQ:AROW) Decreases By 30.6%

Arrow Financial Corporation (NASDAQ:AROW) was the target of a large decline in short interest in the month of December. As of December 31st, there was short interest totaling 104,313 shares, a decline of 30.6% from the December 15th total of 150,374 shares. Based on an average trading volume of 65,075 shares, the short-interest ratio is presently 1.6 days. Approximately 0.7% of the shares of the company are short sold. Approximately 0.7% of the shares of the company are short sold. Based on an average trading volume of 65,075 shares, the short-interest ratio is presently 1.6 days.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AROW. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arrow Financial in a report on Monday, December 29th. Wall Street Zen downgraded Arrow Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Finally, Hovde Group lowered shares of Arrow Financial from an “outperform” rating to a “market perform” rating in a report on Monday, January 12th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $30.75.

Arrow Financial Stock Down 0.3%

AROW opened at $32.67 on Monday. The business’s fifty day simple moving average is $31.33 and its 200 day simple moving average is $29.17. Arrow Financial has a 52 week low of $22.72 and a 52 week high of $33.56. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. The stock has a market cap of $537.09 million, a PE ratio of 15.78 and a beta of 0.82.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. The firm had revenue of $8.07 million during the quarter, compared to analysts’ expectations of $41.00 million. Arrow Financial had a return on equity of 9.46% and a net margin of 14.65%. As a group, research analysts expect that Arrow Financial will post 2.65 earnings per share for the current fiscal year.

Arrow Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Wednesday, November 12th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Wednesday, November 12th. Arrow Financial’s dividend payout ratio (DPR) is presently 56.04%.

Insider Buying and Selling at Arrow Financial

In other Arrow Financial news, Director Daniel James White purchased 1,644 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average cost of $30.14 per share, for a total transaction of $49,550.16. Following the purchase, the director owned 6,890 shares of the company’s stock, valued at $207,664.60. This represents a 31.34% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David S. Demarco acquired 3,035 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The stock was acquired at an average cost of $31.78 per share, with a total value of $96,452.30. Following the completion of the acquisition, the chief executive officer owned 3,035 shares in the company, valued at $96,452.30. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 6,299 shares of company stock valued at $194,311 over the last three months. 3.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arrow Financial

A number of institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC grew its holdings in shares of Arrow Financial by 31.0% during the 1st quarter. AQR Capital Management LLC now owns 12,470 shares of the financial services provider’s stock valued at $328,000 after purchasing an additional 2,949 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Arrow Financial by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,796 shares of the financial services provider’s stock valued at $258,000 after buying an additional 390 shares during the period. Jane Street Group LLC grew its stake in shares of Arrow Financial by 131.3% during the first quarter. Jane Street Group LLC now owns 27,272 shares of the financial services provider’s stock valued at $717,000 after buying an additional 15,482 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Arrow Financial during the first quarter valued at about $311,000. Finally, Johnson Investment Counsel Inc. increased its holdings in shares of Arrow Financial by 0.9% in the second quarter. Johnson Investment Counsel Inc. now owns 59,622 shares of the financial services provider’s stock worth $1,575,000 after buying an additional 520 shares during the period. Hedge funds and other institutional investors own 46.71% of the company’s stock.

About Arrow Financial

Arrow Financial Corporation is a bank holding company headquartered in Glens Falls, New York, that conducts its primary operations through its subsidiary, Glens Falls National Bank & Trust Company. The company provides a comprehensive suite of retail and commercial banking services, including checking and savings accounts, consumer and commercial lending, mortgage financing, and cash management solutions. Through its branch network, Arrow Financial serves individuals, small- and medium-sized businesses, and nonprofit organizations across the Adirondack region, Upper Hudson Valley, Mohawk Valley and parts of Central New York.

In addition to traditional banking, Arrow Financial has developed a robust wealth management and trust services division.