Arrow Financial Co. (NASDAQ:AROW) Short Interest Up 9.8% in August

Arrow Financial Co. (NASDAQ:AROW) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 207,100 shares, a growth of 9.8% from the August 15th total of 188,600 shares. Based on an average daily trading volume, of 44,200 shares, the short-interest ratio is presently 4.7 days.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AROW. Hovde Group assumed coverage on shares of Arrow Financial in a research report on Monday, September 9th. They set a “market perform” rating and a $31.00 price objective for the company. StockNews.com upgraded Arrow Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th.

Insiders Place Their Bets

In other news, Director Raymond F. O’conor sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $28.13, for a total transaction of $56,260.00. Following the sale, the director now owns 45,176 shares in the company, valued at $1,270,800.88. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.55% of the company’s stock.

Institutional Investors Weigh In On Arrow Financial

A number of institutional investors have recently added to or reduced their stakes in AROW. Acadian Asset Management LLC bought a new position in shares of Arrow Financial during the first quarter worth $157,000. BNP Paribas Financial Markets boosted its holdings in shares of Arrow Financial by 90.9% during the 1st quarter. BNP Paribas Financial Markets now owns 7,263 shares of the financial services provider’s stock valued at $182,000 after purchasing an additional 3,459 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new stake in shares of Arrow Financial in the first quarter worth about $201,000. IFG Advisory LLC bought a new stake in shares of Arrow Financial in the second quarter worth about $207,000. Finally, Financial Counselors Inc. lifted its position in shares of Arrow Financial by 11.4% in the first quarter. Financial Counselors Inc. now owns 19,612 shares of the financial services provider’s stock worth $491,000 after buying an additional 2,000 shares in the last quarter. 46.71% of the stock is owned by hedge funds and other institutional investors.

Arrow Financial Price Performance

Shares of AROW stock traded up $0.20 on Monday, hitting $29.19. 8,821 shares of the stock traded hands, compared to its average volume of 41,761. The firm has a market cap of $488.35 million, a price-to-earnings ratio of 16.78 and a beta of 0.73. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a 50 day simple moving average of $29.06 and a two-hundred day simple moving average of $25.90. Arrow Financial has a 52 week low of $16.65 and a 52 week high of $32.92.

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

Arrow Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 12th were issued a $0.27 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.08 dividend on an annualized basis and a yield of 3.70%. Arrow Financial’s dividend payout ratio is presently 62.81%.

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.