Arrow Financial (NASDAQ:AROW) Upgraded to “Moderate Buy” at Raymond James Financial

Arrow Financial (NASDAQ:AROW) was upgraded by investment analysts at Raymond James Financial to a “moderate buy” rating in a report issued on Tuesday, MarketBeat.com reports.

Several other research analysts have also issued reports on the stock. Piper Sandler reissued an “overweight” rating and set a $46.00 target price (up from $43.00) on shares of Arrow Financial in a research note on Tuesday, July 28th. Zacks Research upgraded shares of Arrow Financial to a “hold” rating in a report on Monday, June 15th. Wall Street Zen cut shares of Arrow Financial from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Keefe, Bruyette & Woods started coverage on Arrow Financial in a research report on Thursday, June 25th. They issued a “market perform” rating and a $42.00 target price for the company. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Arrow Financial in a report on Friday, July 24th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Arrow Financial presently has an average rating of “Moderate Buy” and a consensus price target of $41.62.

Arrow Financial Stock Up 3.8%

Shares of NASDAQ AROW opened at $38.82 on Tuesday. Arrow Financial has a 52-week low of $25.88 and a 52-week high of $42.70. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.92 and a current ratio of 0.92. The company’s 50 day moving average price is $39.89 and its 200-day moving average price is $37.12. The company has a market capitalization of $718.95 million, a P/E ratio of 12.52 and a beta of 0.75.

Arrow Financial (NASDAQ:AROW) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.14). The business had revenue of $52.44 million during the quarter, compared to the consensus estimate of $45.51 million. Arrow Financial had a return on equity of 12.13% and a net margin of 20.56%. Equities analysts forecast that Arrow Financial will post 3.55 earnings per share for the current year.

Insider Transactions at Arrow Financial

In related news, Director Mark Behan sold 4,110 shares of the business’s 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 completion of the transaction, the director directly owned 8,929 shares in the company, valued at $344,570.11. The trade was a 31.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.48% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AROW. BlackRock Inc. purchased a new stake in Arrow Financial in the second quarter valued at approximately $57,377,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Arrow Financial during the 2nd quarter valued at $4,995,000. Bank of New York Mellon Corp purchased a new position in shares of Arrow Financial in the second quarter valued at about $3,663,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Arrow Financial during the fourth quarter worth about $2,175,000. Finally, Trust Co. of Vermont bought a new stake in shares of Arrow Financial in the second quarter worth about $2,228,000. 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.