Arrow Financial (NASDAQ:AROW) Coverage Initiated by Analysts at Keefe, Bruyette & Woods

Equities researchers at Keefe, Bruyette & Woods assumed coverage on shares of Arrow Financial (NASDAQ:AROW) in a research note issued on Thursday,Benzinga reports. The firm set a “market perform” rating and a $42.00 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 4.06% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. Piper Sandler initiated coverage on Arrow Financial in a report on Friday, June 12th. They issued an “overweight” rating and a $43.00 target price for the company. Weiss Ratings upgraded Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Zacks Research raised Arrow Financial to a “hold” rating in a research note on Monday, June 15th. Finally, Wall Street Zen lowered shares of Arrow Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Arrow Financial has a consensus rating of “Hold” and an average price target of $39.83.

Arrow Financial Stock Performance

Shares of Arrow Financial stock opened at $40.36 on Thursday. The company’s 50 day moving average price is $37.13 and its two-hundred day moving average price is $34.62. The firm has a market capitalization of $667.15 million, a P/E ratio of 13.06 and a beta of 0.77. Arrow Financial has a fifty-two week low of $25.83 and a fifty-two week high of $40.54. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.92 and a quick ratio of 0.92.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.06. Arrow Financial had a net margin of 20.72% and a return on equity of 12.38%. The company had revenue of $53.39 million during the quarter, compared to the consensus estimate of $43.80 million. On average, equities analysts forecast that Arrow Financial will post 3.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arrow Financial news, Director Mark Behan sold 4,110 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $38.59, for a total value of $158,604.90. Following the sale, the director owned 8,929 shares in the company, valued at approximately $344,570.11. The trade was a 31.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.48% of the company’s stock.

Hedge Funds Weigh In On Arrow Financial

A number of hedge funds have recently made changes to their positions in AROW. Russell Investments Group Ltd. boosted its holdings in Arrow Financial by 2,045.1% in the third quarter. Russell Investments Group Ltd. now owns 1,523 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 1,452 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Arrow Financial by 27.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,557 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 338 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Arrow Financial by 67.2% in 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. Tower Research Capital LLC TRC lifted its position in shares of Arrow Financial by 306.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,390 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 1,802 shares during the period. Finally, LSV Asset Management bought a new stake in shares of Arrow Financial in the 4th quarter valued at $75,000. 46.71% of the stock is currently owned by institutional investors.

Arrow Financial Company Profile

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.