Wall Street Zen Upgrades Arrow Financial (NASDAQ:AROW) to “Buy”

Arrow Financial (NASDAQ:AROW) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other equities analysts have also issued reports on AROW. Hovde Group raised their target price on Arrow Financial from $33.50 to $34.50 and gave the stock a “market perform” rating in a research note on Monday, February 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arrow Financial in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Arrow Financial presently has a consensus rating of “Hold” and an average target price of $31.25.

Arrow Financial Stock Up 1.4%

NASDAQ:AROW opened at $33.45 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06. Arrow Financial has a twelve month low of $22.72 and a twelve month high of $36.44. The company has a market cap of $549.92 million, a PE ratio of 12.62 and a beta of 0.81. The company’s 50 day moving average is $33.48 and its two-hundred day moving average is $30.85.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04. The business had revenue of $43.65 million during the quarter, compared to analysts’ expectations of $43.40 million. Arrow Financial had a net margin of 18.12% and a return on equity of 10.92%. Analysts anticipate that Arrow Financial will post 2.65 EPS for the current year.

Insider Buying and Selling at Arrow Financial

In other Arrow Financial news, CEO David S. Demarco bought 3,035 shares of Arrow Financial stock in a transaction that occurred on Wednesday, December 24th. The stock was purchased at an average price of $31.78 per share, with a total value of $96,452.30. Following the completion of the acquisition, the chief executive officer directly owned 3,035 shares in the company, valued at approximately $96,452.30. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Arrow Financial

Several hedge funds have recently added to or reduced their stakes in AROW. BNP Paribas Financial Markets grew its position in 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 purchasing an additional 648 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of 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 valued at $43,000 after buying an additional 1,452 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Arrow Financial by 27.7% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,557 shares of the financial services provider’s stock valued at $49,000 after buying an additional 338 shares during the period. CWM LLC boosted its stake in shares of Arrow Financial by 159.5% in the third quarter. CWM LLC now owns 1,754 shares of the financial services provider’s stock worth $50,000 after buying an additional 1,078 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake 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 buying an additional 1,802 shares during the last quarter. 46.71% of the stock is owned by hedge funds and other institutional investors.

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.