Insider Selling: Arrow Financial Co. (NASDAQ:AROW) Director Sells 2,000 Shares of Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $28.50, for a total value of $57,000.00. Following the completion of the sale, the director now owns 39,496 shares of the company’s stock, valued at approximately $1,125,636. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Arrow Financial Stock Up 0.1 %

AROW stock traded up $0.03 on Monday, hitting $28.85. 13,670 shares of the company’s stock were exchanged, compared to its average volume of 40,551. The stock has a market cap of $482.66 million, a P/E ratio of 14.70 and a beta of 0.72. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a 50 day moving average price of $28.88 and a two-hundred day moving average price of $27.10. Arrow Financial Co. has a 12-month low of $21.50 and a 12-month high of $32.92.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. Arrow Financial had a return on equity of 8.67% and a net margin of 15.00%. The company had revenue of $57.58 million during the quarter.

Arrow Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.28 per share. The ex-dividend date was Tuesday, October 15th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.88%. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.27. Arrow Financial’s dividend payout ratio (DPR) is presently 57.14%.

Institutional Investors Weigh In On Arrow Financial

Hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. boosted its position in Arrow Financial by 13.7% during the second quarter. American Century Companies Inc. now owns 266,651 shares of the financial services provider’s stock worth $6,946,000 after purchasing an additional 32,158 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Arrow Financial by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 700,253 shares of the financial services provider’s stock worth $18,241,000 after purchasing an additional 31,268 shares during the last quarter. Vanguard Group Inc. grew its holdings in Arrow Financial by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 795,274 shares of the financial services provider’s stock valued at $19,898,000 after buying an additional 10,636 shares in the last quarter. BNP Paribas Financial Markets increased its position in Arrow Financial by 90.9% during the first quarter. BNP Paribas Financial Markets now owns 7,263 shares of the financial services provider’s stock worth $182,000 after purchasing an additional 3,459 shares during the last quarter. Finally, Empowered Funds LLC raised its position in shares of Arrow Financial by 7.7% during the 1st quarter. Empowered Funds LLC now owns 26,764 shares of the financial services provider’s stock valued at $670,000 after buying an additional 1,925 shares during the period. Hedge funds and other institutional investors own 46.71% of the company’s stock.

Analyst Upgrades and Downgrades

AROW has been the subject of a number of recent analyst reports. Hovde Group assumed coverage on Arrow Financial in a 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 report on Tuesday, July 30th.

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.