Arrow Financial (NASDAQ:AROW) Research Coverage Started at Hovde Group

Hovde Group initiated coverage on shares of Arrow Financial (NASDAQ:AROW) in a research report sent to investors on Monday, Marketbeat.com reports. The firm issued a market perform rating and a $31.00 price target on the financial services provider’s stock.

Separately, StockNews.com upgraded shares of Arrow Financial from a sell rating to a hold rating in a research note on Tuesday, July 30th.

Arrow Financial Stock Performance

Shares of AROW stock opened at $27.88 on Monday. The firm has a market capitalization of $466.43 million, a PE ratio of 16.21 and a beta of 0.73. The firm has a fifty day simple moving average of $28.94 and a two-hundred day simple moving average of $25.82. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.07. Arrow Financial has a 12 month low of $16.65 and a 12 month high of $32.92.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.52 EPS for the quarter. The business had revenue of $55.83 million during the quarter. Arrow Financial had a net margin of 14.94% and a return on equity of 8.46%.

Arrow Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 12th were paid a $0.27 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.08 annualized dividend and a dividend yield of 3.87%. Arrow Financial’s payout ratio is 62.81%.

Insider Transactions at Arrow Financial

In other news, Director Raymond F. O’conor sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $30.09, for a total value of $60,180.00. Following the completion of the sale, the director now owns 43,176 shares in the company, valued at approximately $1,299,165.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.55% of the company’s stock.

Hedge Funds Weigh In On Arrow Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new position in shares of Arrow Financial in the 1st quarter worth about $157,000. BNP Paribas Financial Markets boosted its holdings in shares of Arrow Financial by 90.9% in the 1st quarter. BNP Paribas Financial Markets now owns 7,263 shares of the financial services provider’s stock worth $182,000 after buying an additional 3,459 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new position in shares of Arrow Financial in the 1st quarter worth about $201,000. IFG Advisory LLC purchased a new position in shares of Arrow Financial in the 2nd quarter worth about $207,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new position in shares of Arrow Financial in the 4th quarter worth about $230,000. 46.71% of the stock is owned by hedge funds and other institutional investors.

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.