Arrow Financial Corporation (NASDAQ:AROW) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Arrow Financial Corporation (NASDAQ:AROW) have been given an average rating of “Moderate Buy” by the six research firms that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $41.6250.

A number of brokerages have recently commented on AROW. Raymond James Financial assumed coverage on Arrow Financial in a research note on Tuesday, September 1st. They issued an “outperform” rating and a $44.00 price target for the company. Wall Street Zen lowered shares of Arrow Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Piper Sandler restated an “overweight” rating and set a $46.00 price objective (up from $43.00) on shares of Arrow Financial in a report on Tuesday, July 28th. Keefe, Bruyette & Woods began coverage on shares of Arrow Financial in a research note on Thursday, June 25th. They issued a “market perform” rating and a $42.00 target price for the company. Finally, Zacks Research upgraded shares of Arrow Financial to a “hold” rating in a report on Monday, June 15th.

Arrow Financial Price Performance

NASDAQ:AROW opened at $39.57 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.06. Arrow Financial has a 12-month low of $25.88 and a 12-month high of $42.70. The stock’s fifty day simple moving average is $39.81 and its 200-day simple moving average is $37.22. The firm has a market capitalization of $732.84 million, a P/E ratio of 12.76 and a beta of 0.75.

Arrow Financial (NASDAQ:AROW) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.14). Arrow Financial had a net margin of 20.56% and a return on equity of 12.13%. The company had revenue of $52.44 million during the quarter, compared to analyst estimates of $45.51 million. Equities research analysts expect that Arrow Financial will post 3.53 earnings per share for the current year.

Arrow Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were given a $0.30 dividend. The ex-dividend date was Tuesday, August 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. Arrow Financial’s dividend payout ratio is currently 38.71%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Arrow Financial

Large investors have recently modified their holdings of the business. Global Retirement Partners LLC bought a new position in shares of Arrow Financial during the 2nd quarter valued at about $34,000. BNP Paribas Financial Markets increased its stake 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 in the last quarter. Russell Investments Group Ltd. raised its holdings in Arrow Financial by 2,045.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,523 shares of the financial services provider’s stock worth $43,000 after buying an additional 1,452 shares during the period. 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 buying an additional 338 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in 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 valued at $63,000 after buying an additional 1,802 shares in the last quarter. 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.