Insider Selling: Arrow Financial Co. (NASDAQ:AROW) Director Sells 2,000 Shares of Stock

Arrow Financial Co. (NASDAQ:AROW) 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 value of $50,560.00. Following the transaction, the director now owns 35,022 shares in the company, valued at approximately $885,356.16. This represents a 5.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Arrow Financial Trading Up 3.4 %

NASDAQ:AROW opened at $26.93 on Wednesday. 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 Co. has a one year low of $21.50 and a one year high of $34.63. The business’s 50-day simple moving average is $29.08 and its 200 day simple moving average is $29.46. The stock has a market cap of $450.81 million, a price-to-earnings ratio of 15.21 and a beta of 0.76.

Arrow Financial (NASDAQ:AROW) last released its quarterly earnings results 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 return on equity of 8.59% and a net margin of 13.32%. As a group, sell-side analysts predict that Arrow Financial Co. will post 2.7 earnings per share for the current fiscal year.

Arrow Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 10th will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, February 10th. This represents a $1.12 annualized dividend and a yield of 4.16%. This is a boost from Arrow Financial’s previous quarterly dividend of $0.25. Arrow Financial’s dividend payout ratio is presently 63.28%.

Analysts Set New Price Targets

A number of research analysts have commented on AROW shares. Piper Sandler reduced 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. Hovde Group cut their price target 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.

Institutional Trading of Arrow Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its stake in 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 valued at $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 third quarter valued at approximately $164,000. Carl P. Sherr & Co. LLC acquired a new stake in Arrow Financial during the third quarter valued at approximately $216,000. Atria Investments Inc raised its stake in Arrow Financial by 32.6% during the third quarter. Atria Investments Inc now owns 16,856 shares of the financial services provider’s stock valued at $483,000 after buying an additional 4,148 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Arrow Financial by 137.8% during the third quarter. JPMorgan Chase & Co. now owns 18,702 shares of the financial services provider’s stock valued at $536,000 after purchasing an additional 10,838 shares during the last quarter. Institutional investors and hedge funds own 46.71% of the company’s 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.