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

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

Arrow Financial Price Performance

Shares of AROW traded down $0.92 during mid-day trading on Thursday, hitting $26.74. The company’s stock had a trading volume of 17,255 shares, compared to its average volume of 37,862. The stock has a market capitalization of $447.54 million, a price-to-earnings ratio of 13.64 and a beta of 0.77. Arrow Financial has a fifty-two week low of $21.50 and a fifty-two week high of $34.63. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a 50-day moving average price of $29.48 and a 200 day moving average price of $29.52.

Insider Buying and Selling at Arrow Financial

In other news, Director Raymond F. O’conor sold 2,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 35,859 shares of the company’s stock, valued at $1,034,532.15. This trade represents a 5.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 6,000 shares of company stock valued at $180,080. Corporate insiders own 3.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on AROW. Hovde Group lowered their price target on shares of Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a research report on Friday, December 27th. Piper Sandler started coverage on Arrow Financial in a report on Friday, December 20th. They set a “neutral” rating and a $32.00 price objective 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.