Arrow Financial (NASDAQ:AROW) Stock Price Crosses Above 50 Day Moving Average – What’s Next?

Arrow Financial Corporation (NASDAQ:AROW) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $37.96 and traded as high as $41.38. Arrow Financial shares last traded at $40.82, with a volume of 77,340 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wall Street Zen cut shares of Arrow Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings raised shares of Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Zacks Research upgraded shares of Arrow Financial to a “hold” rating in a research note on Monday, June 15th. Piper Sandler began coverage on Arrow Financial in a report on Friday, June 12th. They issued an “overweight” rating and a $43.00 price objective for the company. Finally, Keefe, Bruyette & Woods began coverage on Arrow Financial in a research report on Thursday, June 25th. They issued a “market perform” rating and a $42.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $39.83.

Arrow Financial Stock Performance

The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.06. The stock’s fifty day moving average is $37.96 and its two-hundred day moving average is $35.20. The firm has a market capitalization of $674.71 million, a price-to-earnings ratio of 13.21 and a beta of 0.76.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.06. Arrow Financial had a net margin of 20.72% and a return on equity of 12.38%. The firm had revenue of $53.39 million during the quarter, compared to analysts’ expectations of $43.80 million. On average, analysts predict that Arrow Financial Corporation will post 3.8 earnings per share for the current year.

Arrow Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, May 12th. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. Arrow Financial’s dividend payout ratio (DPR) is presently 38.83%.

Insiders Place Their Bets

In other Arrow Financial news, Director Mark Behan sold 4,110 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $38.59, for a total value of $158,604.90. Following the sale, the director owned 8,929 shares in the company, valued at $344,570.11. This represents a 31.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arrow Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in Arrow Financial by 16.5% in the 1st quarter. Bank of America Corp DE now owns 32,696 shares of the financial services provider’s stock valued at $1,098,000 after acquiring an additional 4,641 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of Arrow Financial by 17.0% during the first quarter. Quantinno Capital Management LP now owns 30,989 shares of the financial services provider’s stock worth $1,040,000 after acquiring an additional 4,510 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Arrow Financial in the first quarter valued at approximately $995,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Arrow Financial by 71.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 114,449 shares of the financial services provider’s stock worth $3,842,000 after purchasing an additional 47,752 shares during the period. Finally, Sei Investments Co. acquired a new stake in Arrow Financial during the 1st quarter worth approximately $628,000. 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.