Raymond F. O’conor Sells 2,000 Shares of Arrow Financial Co. (NASDAQ:AROW) Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $26.90, for a total transaction of $53,800.00. Following the completion of the transaction, the director now owns 33,022 shares in the company, valued at $888,291.80. This trade represents a 5.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Arrow Financial Stock Down 2.3 %

AROW opened at $26.28 on Wednesday. The stock has a market cap of $439.90 million, a price-to-earnings ratio of 14.85 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s fifty day moving average is $27.18 and its 200 day moving average is $29.08. Arrow Financial Co. has a fifty-two week low of $21.50 and a fifty-two week high of $34.63.

Arrow Financial (NASDAQ:AROW) last announced 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, sell-side analysts forecast that Arrow Financial Co. will post 2.65 earnings per share for the current fiscal year.

Arrow Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 10th were issued a dividend of $0.28 per share. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.25. This represents a $1.12 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date was Monday, February 10th. Arrow Financial’s dividend payout ratio (DPR) is 63.28%.

Analyst Upgrades and Downgrades

AROW has been the topic of a number of recent research reports. Piper Sandler decreased their target price on Arrow Financial from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Hovde Group lowered their price objective on 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.

Hedge Funds Weigh In On Arrow Financial

Several hedge funds have recently modified their holdings of the stock. Atria Investments Inc lifted its stake 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 increased its holdings in shares of Arrow Financial by 1.2% in the third 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 last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Arrow Financial by 136.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,050 shares of the financial services provider’s stock worth $1,578,000 after purchasing an additional 31,741 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Arrow Financial by 13.0% in the third quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock worth $99,000 after buying an additional 398 shares in the last quarter. Finally, Carl P. Sherr & Co. LLC bought a new position in Arrow Financial during the third quarter valued at approximately $216,000. Hedge funds and other institutional investors 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.