Arrow Financial Co. (NASDAQ:AROW – Get Rating) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 150,900 shares, a decrease of 11.9% from the August 15th total of 171,300 shares. Based on an average daily trading volume, of 19,300 shares, the short-interest ratio is presently 7.8 days. Approximately 1.0% of the shares of the stock are short sold.
Institutional Investors Weigh In On Arrow Financial
Hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC acquired a new stake in Arrow Financial during the 1st quarter valued at $25,000. City State Bank acquired a new stake in shares of Arrow Financial in the 4th quarter valued at $28,000. Great West Life Assurance Co. Can increased its stake in shares of Arrow Financial by 71.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 944 shares of the financial services provider’s stock valued at $32,000 after buying an additional 395 shares during the period. Amalgamated Bank acquired a new stake in shares of Arrow Financial in the 1st quarter valued at $54,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Arrow Financial by 40.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,205 shares of the financial services provider’s stock valued at $134,000 after buying an additional 1,213 shares during the period. 44.87% of the stock is owned by institutional investors and hedge funds.
Arrow Financial Trading Up 3.1 %
Shares of AROW opened at $32.64 on Friday. Arrow Financial has a 1 year low of $30.50 and a 1 year high of $38.24. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.14. The stock has a 50 day simple moving average of $33.12 and a 200-day simple moving average of $32.59. The stock has a market cap of $522.89 million, a PE ratio of 10.99 and a beta of 0.60.
Arrow Financial Announces Dividend
The firm also recently declared a — dividend, which will be paid on Friday, September 23rd. Investors of record on Monday, September 19th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, September 16th. This represents a yield of 3.4%. Arrow Financial’s dividend payout ratio is 36.36%.
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 improvements to commercial properties, as well as commercial construction and land development loans to finance projects.
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