Arrow Financial Corporation (NASDAQ:AROW) Stock Rated “Moderate Buy” by Wall Street Analysts

Arrow Financial Corporation (NASDAQ:AROW) has earned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $41.62.

Several analysts have issued reports on AROW shares. Raymond James Financial began coverage on shares of Arrow Financial in a research report on Tuesday, September 1st. They issued an “outperform” rating and a $44.00 price target on the stock. Piper Sandler reaffirmed 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. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Arrow Financial in a research note on Thursday, October 22nd.

Arrow Financial Trading Down 1.6%

Shares of Arrow Financial stock opened at $38.64 on Wednesday. The company’s fifty day simple moving average is $37.87 and its 200-day simple moving average is $36.97. The company has a market cap of $715.61 million, a price-to-earnings ratio of 11.61 and a beta of 0.75. 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 1 year low of $28.92 and a 1 year high of $42.70.

Arrow Financial (NASDAQ:AROW) last released its earnings results on Thursday, October 29th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. The firm had revenue of $60.15 million during the quarter, compared to analysts’ expectations of $57.82 million. Arrow Financial had a net margin of 16.56% and a return on equity of 13.18%. As a group, sell-side analysts expect that Arrow Financial will post 3.56 EPS for the current year.

Arrow Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Wednesday, November 11th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, November 10th. Arrow Financial’s payout ratio is currently 45.45%.

Hedge Funds Weigh In On Arrow Financial

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Arrow Financial in the second quarter valued at $57,377,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Arrow Financial in the second quarter worth $4,995,000. Bank of New York Mellon Corp bought a new position in Arrow Financial in the second quarter worth $3,663,000. Trust Co. of Vermont acquired a new stake in Arrow Financial during the second quarter worth $2,228,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Arrow Financial by 71.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 114,449 shares of the financial services provider’s stock worth $3,842,000 after buying an additional 47,752 shares in the last quarter. Institutional investors and hedge funds own 46.71% of the company’s stock.

Arrow Financial Company Profile

Arrow Financial Corporation (NASDAQ: AROW) is a bank holding company headquartered in Glens Falls, New York. Through its banking subsidiaries, the company provides commercial and consumer banking services to individuals, families, businesses and municipalities.

Arrow’s offerings include checking and savings accounts, certificates of deposit, residential mortgages, home equity financing, consumer loans, commercial lending, treasury management and online banking. Through affiliated businesses, it also provides investment management, trust and financial planning services, as well as insurance products.

The company’s banking operations serve communities primarily in eastern New York, including the Capital Region, the Adirondacks and the surrounding areas.