Arrow Financial (NASDAQ:AROW) Releases Quarterly Earnings Results, Misses Estimates By $0.12 EPS

Arrow Financial (NASDAQ:AROW) issued its quarterly earnings results on Thursday. The financial services provider reported $0.47 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.12), Zacks reports. Arrow Financial had a return on equity of 8.59% and a net margin of 15.00%.

Arrow Financial Stock Performance

Shares of NASDAQ:AROW traded down $0.74 during trading on Thursday, reaching $26.92. The stock had a trading volume of 18,393 shares, compared to its average volume of 38,156. The firm has a market capitalization of $450.56 million, a price-to-earnings ratio of 13.73 and a beta of 0.77. The stock has a fifty day simple moving average of $29.48 and a two-hundred day simple moving average of $29.52. Arrow Financial has a 52 week low of $21.50 and a 52 week high of $34.63. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06.

Insider Activity

In other Arrow Financial news, Director Raymond F. O’conor sold 2,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $32.69, for a total transaction of $65,380.00. Following the sale, the director now owns 37,859 shares of the company’s stock, valued at $1,237,610.71. This represents a 5.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 6,000 shares of company stock valued at $180,080. 3.55% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.