Short Interest in Arrow Financial Corporation (NASDAQ:AROW) Drops By 30.6%

Arrow Financial Corporation (NASDAQ:AROW) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 104,313 shares, a drop of 30.6% from the December 15th total of 150,374 shares. Based on an average daily volume of 65,075 shares, the short-interest ratio is presently 1.6 days. Currently, 0.7% of the shares of the stock are sold short. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily volume of 65,075 shares, the short-interest ratio is presently 1.6 days.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AROW shares. Hovde Group cut shares of Arrow Financial from an “outperform” rating to a “market perform” rating in a research note on Monday, January 12th. Wall Street Zen cut Arrow Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Arrow Financial in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Arrow Financial presently has a consensus rating of “Hold” and a consensus price target of $30.75.

Arrow Financial Price Performance

NASDAQ:AROW opened at $32.67 on Friday. Arrow Financial has a one year low of $22.72 and a one year high of $33.56. The stock has a market cap of $537.09 million, a PE ratio of 15.78 and a beta of 0.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a 50 day moving average price of $31.33 and a 200 day moving average price of $29.15.

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

Arrow Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Wednesday, November 12th were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.6%. Arrow Financial’s dividend payout ratio is currently 56.04%.

Insider Buying and Selling at Arrow Financial

In other Arrow Financial news, CEO David S. Demarco bought 3,035 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The shares were purchased at an average price of $31.78 per share, for a total transaction of $96,452.30. Following the transaction, the chief executive officer directly owned 3,035 shares of the company’s stock, valued at approximately $96,452.30. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel James White purchased 1,644 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average cost of $30.14 per share, with a total value of $49,550.16. Following the acquisition, the director owned 6,890 shares in the company, valued at $207,664.60. This represents a 31.34% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 6,299 shares of company stock valued at $194,311. Company insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Arrow Financial

Several institutional investors and hedge funds have recently bought and sold shares of AROW. BNP Paribas Financial Markets grew its stake in shares of Arrow Financial by 67.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,612 shares of the financial services provider’s stock valued at $43,000 after buying an additional 648 shares during the period. Russell Investments Group Ltd. lifted its holdings in Arrow Financial by 2,045.1% in the third quarter. Russell Investments Group Ltd. now owns 1,523 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 1,452 shares during the last quarter. CWM LLC grew its position in Arrow Financial by 159.5% in the third quarter. CWM LLC now owns 1,754 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 1,078 shares during the period. Tower Research Capital LLC TRC increased its stake in Arrow Financial by 306.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,390 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 1,802 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Arrow Financial in the fourth quarter valued at $142,000. 46.71% of the stock is currently owned by institutional investors and hedge funds.

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.