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

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $25.94, for a total transaction of $51,880.00. Following the completion of the transaction, the director now directly owns 31,022 shares in the company, valued at $804,710.68. This trade represents a 6.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Arrow Financial Price Performance

Shares of AROW stock opened at $26.35 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. Arrow Financial Co. has a 12-month low of $21.50 and a 12-month high of $34.63. The firm has a fifty day moving average of $26.66 and a 200-day moving average of $28.66. The firm has a market capitalization of $440.52 million, a price-to-earnings ratio of 14.89 and a beta of 0.73.

Arrow Financial (NASDAQ:AROW) last posted its earnings results on Thursday, January 30th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, equities research analysts forecast that Arrow Financial Co. will post 2.65 earnings per share for the current year.

Arrow Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 10th were paid a $0.28 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.12 dividend on an annualized basis and a yield of 4.25%. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.25. Arrow Financial’s payout ratio is presently 63.28%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its position in Arrow Financial by 13.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock valued at $99,000 after acquiring an additional 398 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Arrow Financial by 0.4% in the third quarter. Rockefeller Capital Management L.P. now owns 116,867 shares of the financial services provider’s stock valued at $3,349,000 after purchasing an additional 454 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Arrow Financial by 0.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 118,630 shares of the financial services provider’s stock valued at $3,400,000 after purchasing an additional 1,100 shares in the last quarter. State Street Corp boosted its position in shares of Arrow Financial by 0.3% during the third quarter. State Street Corp now owns 393,719 shares of the financial services provider’s stock worth $11,284,000 after buying an additional 1,022 shares during the period. Finally, Barclays PLC grew its holdings in shares of Arrow Financial by 251.9% during the third quarter. Barclays PLC now owns 21,411 shares of the financial services provider’s stock worth $614,000 after buying an additional 15,327 shares in the last quarter. Institutional investors and hedge funds own 46.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AROW. Hovde Group cut their price objective on shares of Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a report 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, February 4th.

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.