Arrow Financial Corporation (NASDAQ:AROW) Receives Consensus Rating of “Hold” from Analysts

Arrow Financial Corporation (NASDAQ:AROW) has been assigned an average rating of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $40.8333.

A number of equities analysts recently issued reports on the stock. Zacks Research raised shares of Arrow Financial to a “hold” rating in a report on Monday, June 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Arrow Financial in a research note on Friday, July 24th. Keefe, Bruyette & Woods initiated coverage on shares of Arrow Financial in a report on Thursday, June 25th. They issued a “market perform” rating and a $42.00 target price for the company. Wall Street Zen downgraded Arrow Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Piper Sandler reiterated an “overweight” rating and set a $46.00 price objective (up from $43.00) on shares of Arrow Financial in a research report on Tuesday, July 28th.

Arrow Financial Stock Up 0.3%

Arrow Financial stock opened at $38.98 on Friday. The firm has a market cap of $721.91 million, a price-to-earnings ratio of 12.57 and a beta of 0.76. The company has a current ratio of 0.92, a quick 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 has a fifty day simple moving average of $40.08 and a two-hundred day simple moving average of $36.88.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $45.51 million. Equities analysts predict that Arrow Financial will post 3.55 EPS for the current fiscal year.

Arrow Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, August 11th. Arrow Financial’s payout ratio is currently 38.71%.

Insider Buying and Selling at Arrow Financial

In related 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 value of $158,604.90. Following the completion of the transaction, the director owned 8,929 shares in the company, valued at approximately $344,570.11. This trade represents 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 hyperlink. 3.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co lifted its stake in shares of 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. Rhumbline Advisers raised its holdings in Arrow Financial by 1.5% in the second quarter. Rhumbline Advisers now owns 25,307 shares of the financial services provider’s stock worth $669,000 after purchasing an additional 367 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of 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 last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of Arrow Financial by 0.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 119,842 shares of the financial services provider’s stock valued at $3,763,000 after buying an additional 511 shares in the last quarter. Finally, Royal Bank of Canada grew its position in shares of Arrow Financial by 10.5% in the 4th quarter. Royal Bank of Canada now owns 6,003 shares of the financial services provider’s stock worth $188,000 after buying an additional 571 shares during the last quarter. 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.