Piper Sandler Issues Pessimistic Forecast for Arrow Financial (NASDAQ:AROW) Stock Price

Arrow Financial (NASDAQ:AROW) had its price target lowered by investment analysts at Piper Sandler from $30.00 to $28.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 9.17% from the company’s previous close.

Separately, StockNews.com upgraded shares of Arrow Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 2nd.

Arrow Financial Stock Performance

Shares of AROW opened at $25.65 on Monday. Arrow Financial has a 1 year low of $22.72 and a 1 year high of $34.63. The stock has a 50-day simple moving average of $25.40 and a 200-day simple moving average of $27.90. 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 market capitalization of $427.59 million, a PE ratio of 14.49 and a beta of 0.78.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.06). Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%. The business had revenue of $50.37 million during the quarter, compared to analyst estimates of $39.26 million. On average, analysts predict that Arrow Financial will post 2.65 earnings per share for the current fiscal year.

Insider Activity at Arrow Financial

In other news, Director Raymond F. O’conor sold 2,000 shares of Arrow Financial stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $25.94, for a total transaction of $51,880.00. Following the completion of the sale, the director now directly owns 31,022 shares in the company, valued at approximately $804,710.68. This trade represents a 6.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 6,000 shares of company stock worth $153,240 in the last three months. Insiders own 3.55% of the company’s stock.

Institutional Investors Weigh In On Arrow Financial

A number of institutional investors and hedge funds have recently bought and sold shares of AROW. Dimensional Fund Advisors LP raised its stake in Arrow Financial by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 736,569 shares of the financial services provider’s stock valued at $21,147,000 after purchasing an additional 12,798 shares during the last quarter. American Century Companies Inc. raised its position in shares of Arrow Financial by 4.3% in the fourth quarter. American Century Companies Inc. now owns 304,964 shares of the financial services provider’s stock valued at $8,756,000 after buying an additional 12,581 shares during the last quarter. Rhino Investment Partners Inc purchased a new position in shares of Arrow Financial during the fourth quarter valued at approximately $5,458,000. Voya Investment Management LLC boosted its position in Arrow Financial by 15.5% during the fourth quarter. Voya Investment Management LLC now owns 178,680 shares of the financial services provider’s stock worth $5,130,000 after acquiring an additional 24,036 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Arrow Financial by 1.6% in the 4th quarter. Northern Trust Corp now owns 148,921 shares of the financial services provider’s stock worth $4,276,000 after acquiring an additional 2,296 shares during the period. 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.