Short Interest in Arrow Financial Co. (NASDAQ:AROW) Decreases By 20.2%

Arrow Financial Co. (NASDAQ:AROW) was the recipient of a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 82,400 shares, a decrease of 20.2% from the January 31st total of 103,200 shares. Based on an average daily trading volume, of 40,800 shares, the short-interest ratio is currently 2.0 days.

Arrow Financial Trading Down 0.1 %

NASDAQ AROW traded down $0.03 during trading on Tuesday, hitting $26.87. 13,983 shares of the company’s stock traded hands, compared to its average volume of 38,977. The firm has a market cap of $449.78 million, a P/E ratio of 15.18 and a beta of 0.76. The stock has a fifty day moving average of $27.23 and a two-hundred day moving average of $29.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.93. Arrow Financial has a 12-month low of $21.50 and a 12-month high of $34.63.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.12). Arrow Financial had a return on equity of 8.59% and a net margin of 13.32%. As a group, sell-side analysts expect that Arrow Financial will post 2.65 EPS for the current year.

Arrow Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 10th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Monday, February 10th. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.25. Arrow Financial’s dividend payout ratio (DPR) is 63.28%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AROW. Piper Sandler lowered their price objective on Arrow Financial from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Hovde Group dropped their target price on Arrow Financial from $34.50 to $32.00 and set a “market perform” rating for the company in a research report on Friday, December 27th.

Insiders Place Their Bets

In related news, Director Daniel James White bought 3,668 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average price of $27.23 per share, with a total value of $99,879.64. Following the completion of the transaction, the director now directly owns 4,338 shares in the company, valued at approximately $118,123.74. This represents a 547.46 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Raymond F. O’conor sold 2,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $25.28, for a total transaction of $50,560.00. Following the transaction, the director now owns 35,022 shares in the company, valued at approximately $885,356.16. This trade represents a 5.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,000 shares of company stock worth $162,060. Insiders own 3.55% of the company’s stock.

Hedge Funds Weigh In On Arrow Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parr Mcknight Wealth Management Group LLC bought a new stake in Arrow Financial in the fourth quarter worth $316,000. Squarepoint Ops LLC bought a new stake in shares of Arrow Financial in the 4th quarter worth $800,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Arrow Financial by 4.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,406 shares of the financial services provider’s stock valued at $270,000 after buying an additional 436 shares during the last quarter. Bank of America Corp DE lifted its position in Arrow Financial by 33.4% during the fourth quarter. Bank of America Corp DE now owns 24,977 shares of the financial services provider’s stock valued at $717,000 after purchasing an additional 6,253 shares during the period. Finally, Gallagher Fiduciary Advisors LLC boosted its holdings in Arrow Financial by 17.9% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 19,905 shares of the financial services provider’s stock worth $571,000 after purchasing an additional 3,028 shares during the last quarter. Institutional investors own 46.71% of the company’s 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.