Arrow Financial Corporation (NASDAQ:AROW) Receives Average Rating of “Hold” from Analysts

Shares of Arrow Financial Corporation (NASDAQ:AROW) have received a consensus recommendation of “Hold” from the five brokerages that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $39.8333.

A number of analysts have commented on the company. Piper Sandler initiated coverage on Arrow Financial in a research report on Friday, June 12th. They issued an “overweight” rating and a $43.00 price objective for the company. Weiss Ratings upgraded Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Wall Street Zen lowered Arrow Financial from a “buy” rating to a “hold” rating in a research note 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, Zacks Research upgraded shares of Arrow Financial to a “hold” rating in a research note on Monday, June 15th.

Insider Buying and Selling at Arrow Financial

In other news, Director Mark Behan sold 4,110 shares of Arrow Financial stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $38.59, for a total transaction of $158,604.90. Following the sale, the director directly owned 8,929 shares in the company, valued at approximately $344,570.11. The trade was a 31.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.48% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 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 purchasing an additional 648 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Arrow Financial by 2,045.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,523 shares of the financial services provider’s stock worth $43,000 after buying an additional 1,452 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in shares of Arrow Financial by 27.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,557 shares of the financial services provider’s stock worth $49,000 after buying an additional 338 shares during the period. Tower Research Capital LLC TRC boosted its stake in Arrow Financial by 306.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,390 shares of the financial services provider’s stock valued at $63,000 after buying an additional 1,802 shares in the last quarter. Finally, LSV Asset Management acquired a new stake in Arrow Financial in the 4th quarter valued at $75,000. Institutional investors own 46.71% of the company’s stock.

Arrow Financial Stock Performance

NASDAQ:AROW opened at $39.45 on Monday. 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 firm’s 50-day moving average is $39.09 and its 200-day moving average is $36.00. Arrow Financial has a 52-week low of $25.83 and a 52-week high of $42.70. The company has a market cap of $652.11 million, a price-to-earnings ratio of 12.73 and a beta of 0.76.

Arrow Financial (NASDAQ:AROW) last released 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). Arrow Financial had a return on equity of 12.25% and a net margin of 20.56%.The firm had revenue of $44.19 million for the quarter, compared to analyst estimates of $45.51 million. Equities research analysts anticipate that Arrow Financial will post 3.8 earnings per share for the current year.

Arrow Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 11th. Arrow Financial’s dividend payout ratio (DPR) is presently 38.83%.

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.