Arrow Financial (NASDAQ:AROW) Rating Lowered to Market Perform at Hovde Group

Arrow Financial (NASDAQ:AROW) was downgraded by equities research analysts at Hovde Group from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday, Marketbeat reports.

A number of other equities analysts have also issued reports on AROW. Wall Street Zen lowered shares of Arrow Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arrow Financial in a research note on Monday, December 29th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $30.75.

Arrow Financial Stock Performance

Shares of AROW opened at $31.70 on Monday. The company has a market capitalization of $521.15 million, a price-to-earnings ratio of 15.31 and a beta of 0.82. Arrow Financial has a 52-week low of $22.72 and a 52-week high of $33.56. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average price of $31.20 and a 200 day moving average price of $29.06.

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

Insiders Place Their Bets

In other Arrow Financial news, CFO Penko Krassimir Ivanov acquired 1,620 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was purchased at an average price of $29.82 per share, for a total transaction of $48,308.40. Following the completion of the transaction, the chief financial officer owned 26,394 shares of the company’s stock, valued at $787,069.08. The trade was a 6.54% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel James White bought 1,644 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were bought at an average price of $30.14 per share, for a total transaction of $49,550.16. Following the completion of the transaction, the director directly owned 6,890 shares in the company, valued at approximately $207,664.60. This represents a 31.34% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders acquired 6,299 shares of company stock worth $194,311. 3.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its stake in shares of Arrow Financial by 1.5% during the 2nd quarter. Rhumbline Advisers now owns 25,307 shares of the financial services provider’s stock worth $669,000 after acquiring an additional 367 shares in the last quarter. Johnson Investment Counsel Inc. boosted its position in Arrow Financial by 0.6% during the third quarter. Johnson Investment Counsel Inc. now owns 59,992 shares of the financial services provider’s stock worth $1,698,000 after purchasing an additional 370 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Arrow Financial by 4.1% in 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 purchasing an additional 390 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Arrow Financial by 0.5% in the second quarter. Rockefeller Capital Management L.P. now owns 118,825 shares of the financial services provider’s stock valued at $3,139,000 after buying an additional 538 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of 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 buying an additional 648 shares during the last quarter. 46.71% of the stock is owned by hedge funds and other 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.