Arrow Financial Co. (NASDAQ:AROW) Director Buys $99,879.64 in Stock

Arrow Financial Co. (NASDAQ:AROW) Director Daniel James White bought 3,668 shares of Arrow Financial stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average cost of $27.23 per share, for a total transaction of $99,879.64. Following the acquisition, the director now owns 4,338 shares in the company, valued at $118,123.74. The trade was a 547.46 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Arrow Financial Trading Up 1.5 %

NASDAQ:AROW opened at $27.33 on Thursday. The firm has a market capitalization of $457.50 million, a P/E ratio of 15.44 and a beta of 0.76. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average of $28.96 and a 200 day moving average of $29.44. Arrow Financial Co. has a 52 week low of $21.50 and a 52 week high of $34.63.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.47 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.12). Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%. On average, research analysts predict that Arrow Financial Co. will post 2.7 earnings per share for the current year.

Arrow Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 10th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.12 annualized dividend and a yield of 4.10%. This is a boost from Arrow Financial’s previous quarterly dividend of $0.25. Arrow Financial’s dividend payout ratio (DPR) is 63.28%.

Institutional Investors Weigh In On Arrow Financial

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in Arrow Financial in the third quarter worth $164,000. Private Advisor Group LLC raised its holdings in Arrow Financial by 26.7% in the 3rd quarter. Private Advisor Group LLC now owns 25,257 shares of the financial services provider’s stock worth $724,000 after purchasing an additional 5,323 shares in the last quarter. Atria Investments Inc raised its holdings in Arrow Financial by 32.6% in the 3rd 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 in the last quarter. Arrow Financial Corp lifted its position in shares of Arrow Financial by 1.2% in the 3rd quarter. Arrow Financial Corp now owns 1,969,793 shares of the financial services provider’s stock worth $56,454,000 after purchasing an additional 23,198 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Arrow Financial by 136.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,050 shares of the financial services provider’s stock valued at $1,578,000 after purchasing an additional 31,741 shares in the last quarter. 46.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AROW shares. Hovde Group reduced 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 reduced their price target on Arrow Financial from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday.

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.