Arrow Financial Corporation (NASDAQ:AROW) to Issue Quarterly Dividend of $0.30

Arrow Financial Corporation (NASDAQ:AROW) announced a quarterly dividend on Thursday, July 23rd. Shareholders of record on Tuesday, August 11th will be given a dividend of 0.30 per share by the financial services provider on Tuesday, August 25th. This represents a c) annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, August 11th.

Arrow Financial has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 7 years. Arrow Financial has a payout ratio of 41.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Arrow Financial to earn $4.40 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 27.3%.

Arrow Financial Trading Down 3.9%

NASDAQ:AROW traded down $1.59 on Thursday, reaching $39.14. The company’s stock had a trading volume of 171,607 shares, compared to its average volume of 91,208. Arrow Financial has a 12-month low of $25.83 and a 12-month high of $42.70. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.06. The firm has a market cap of $646.95 million, a price-to-earnings ratio of 12.67 and a beta of 0.76. The stock has a 50 day moving average price of $38.94 and a 200 day moving average price of $35.92.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.71 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.14). Arrow Financial had a net margin of 20.72% and a return on equity of 12.38%. On average, equities analysts anticipate that Arrow Financial will post 3.8 EPS for the current fiscal year.

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.