Arrow Financial (NASDAQ:AROW) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Arrow Financial Corporation (NASDAQ:AROW) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $27.78 and traded as high as $30.76. Arrow Financial shares last traded at $30.10, with a volume of 93,836 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Arrow Financial in a research report on Monday. Hovde Group raised shares of Arrow Financial from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $28.50 to $33.50 in a report on Friday, October 31st. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $30.75.

Arrow Financial Stock Down 0.2%

The stock has a market cap of $494.84 million, a price-to-earnings ratio of 14.54 and a beta of 0.82. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $28.61 and its two-hundred day moving average is $27.78.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. The business had revenue of $8.07 million during the quarter, compared to the consensus estimate of $41.00 million. Arrow Financial had a net margin of 14.65% and a return on equity of 9.46%. On average, sell-side analysts predict that Arrow Financial Corporation will post 2.65 EPS for the current year.

Arrow Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Wednesday, November 12th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Wednesday, November 12th. Arrow Financial’s payout ratio is presently 56.04%.

Insider Buying and Selling at Arrow Financial

In other Arrow Financial news, Director Daniel James White purchased 1,644 shares of Arrow Financial stock in a transaction on Monday, November 10th. The shares were bought at an average price of $30.14 per share, with a total value of $49,550.16. Following the purchase, the director directly owned 6,890 shares in the company, valued at $207,664.60. This trade represents a 31.34% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Penko Krassimir Ivanov acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were acquired at an average price of $29.10 per share, for a total transaction of $145,500.00. Following the acquisition, the chief financial officer directly owned 24,744 shares of the company’s stock, valued at approximately $720,050.40. The trade was a 25.32% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 8,264 shares of company stock valued at $243,359 over the last quarter. 3.28% of the stock is currently owned by insiders.

Institutional Trading of Arrow Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AROW. Vanguard Group Inc. increased its stake in shares of Arrow Financial by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 889,234 shares of the financial services provider’s stock valued at $25,165,000 after acquiring an additional 17,050 shares during the last quarter. American Century Companies Inc. grew its holdings in Arrow Financial by 1.8% in the second quarter. American Century Companies Inc. now owns 328,677 shares of the financial services provider’s stock valued at $8,684,000 after purchasing an additional 5,679 shares during the period. Rhino Investment Partners Inc increased its position in Arrow Financial by 13.9% during the third quarter. Rhino Investment Partners Inc now owns 227,804 shares of the financial services provider’s stock worth $6,447,000 after purchasing an additional 27,856 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in Arrow Financial by 0.5% during the second quarter. Rockefeller Capital Management L.P. now owns 118,825 shares of the financial services provider’s stock worth $3,139,000 after purchasing an additional 538 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Arrow Financial by 9.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,773 shares of the financial services provider’s stock valued at $2,255,000 after purchasing an additional 7,225 shares during the last quarter. Hedge funds and other institutional investors own 46.71% of the company’s stock.

Arrow Financial Company Profile

Arrow Financial Corporation, a bank holding company, provides commercial and consumer banking, and financial products and services. The company’s deposit products include demand deposits, interest-bearing checking accounts, savings deposits, time deposits, and other time deposits. Its lending activities comprise commercial loans, such as term loans, time notes, and lines of credit; and commercial real estate loans to finance real estate purchases, refinancing, expansions, and enhancement to commercial properties, as well as commercial construction and land development loans to finance projects.