Insider Selling: Arrow Financial Co. (NASDAQ:AROW) Director Sells $57,700.00 in Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of Arrow Financial stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $28.85, for a total transaction of $57,700.00. Following the completion of the transaction, the director now owns 35,859 shares in the company, valued at $1,034,532.15. This trade represents a 5.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Arrow Financial Stock Down 0.4 %

Shares of AROW opened at $27.70 on Monday. Arrow Financial Co. has a 52 week low of $21.50 and a 52 week high of $34.63. The firm has a market capitalization of $463.67 million, a P/E ratio of 14.13 and a beta of 0.77. The company has a 50-day simple moving average of $31.09 and a 200-day simple moving average of $29.34. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.93 and a current ratio of 0.93.

Arrow Financial (NASDAQ:AROW) last posted its earnings results on Thursday, October 31st. The financial services provider reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. Arrow Financial had a net margin of 15.00% and a return on equity of 8.59%. The business had revenue of $57.58 million for the quarter.

Hedge Funds Weigh In On Arrow Financial

Several institutional investors have recently added to or reduced their stakes in AROW. BNP Paribas Financial Markets increased its holdings in shares of Arrow Financial by 13.0% during the third quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock worth $99,000 after buying an additional 398 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Arrow Financial during the 3rd quarter valued at $164,000. Carl P. Sherr & Co. LLC acquired a new position in Arrow Financial in the third quarter worth $216,000. Atria Investments Inc grew its holdings in shares of Arrow Financial by 32.6% during the third quarter. Atria Investments Inc now owns 16,856 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 4,148 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Arrow Financial by 137.8% in the third quarter. JPMorgan Chase & Co. now owns 18,702 shares of the financial services provider’s stock valued at $536,000 after buying an additional 10,838 shares in the last quarter. 46.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AROW has been the topic of a number of recent analyst reports. Hovde Group dropped their price objective on Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a research note on Friday, December 27th. Piper Sandler initiated coverage on Arrow Financial in a research report on Friday, December 20th. They issued a “neutral” rating and a $32.00 price target on the stock.

About Arrow Financial

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.