Arrow Financial Co. (NASDAQ:AROW) Director Colin L. Read Sells 300 Shares

Arrow Financial Co. (NASDAQ:AROWGet Rating) Director Colin L. Read sold 300 shares of the firm’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $34.50, for a total transaction of $10,350.00. Following the completion of the transaction, the director now directly owns 14,825 shares in the company, valued at approximately $511,462.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Arrow Financial Trading Down 0.4 %

NASDAQ AROW opened at $33.35 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $551.24 million, a price-to-earnings ratio of 11.76 and a beta of 0.67. The company’s 50-day simple moving average is $34.44 and its two-hundred day simple moving average is $33.00. Arrow Financial Co. has a one year low of $28.50 and a one year high of $36.75.

Arrow Financial (NASDAQ:AROWGet Rating) last posted its earnings results on Thursday, October 27th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.06. The business had revenue of $38.73 million for the quarter, compared to the consensus estimate of $36.80 million. Arrow Financial had a net margin of 30.65% and a return on equity of 13.15%. Equities analysts forecast that Arrow Financial Co. will post 3.02 EPS for the current fiscal year.

Arrow Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Wednesday, November 30th. Arrow Financial’s payout ratio is currently 38.07%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. King Wealth grew its position in shares of Arrow Financial by 8.5% in the 2nd quarter. King Wealth now owns 12,828 shares of the financial services provider’s stock worth $408,000 after buying an additional 1,000 shares during the last quarter. Financial Counselors Inc. grew its position in shares of Arrow Financial by 3.0% in the 3rd quarter. Financial Counselors Inc. now owns 15,102 shares of the financial services provider’s stock worth $435,000 after buying an additional 437 shares during the last quarter. IFG Advisory LLC grew its position in shares of Arrow Financial by 5.1% in the 3rd quarter. IFG Advisory LLC now owns 9,193 shares of the financial services provider’s stock worth $264,000 after buying an additional 443 shares during the last quarter. Trust Co. of Vermont grew its position in shares of Arrow Financial by 3.0% in the 3rd quarter. Trust Co. of Vermont now owns 37,968 shares of the financial services provider’s stock worth $1,094,000 after buying an additional 1,103 shares during the last quarter. Finally, Washington Trust Advisors Inc. grew its position in shares of Arrow Financial by 3.0% in the 3rd quarter. Washington Trust Advisors Inc. now owns 14,147 shares of the financial services provider’s stock worth $408,000 after buying an additional 412 shares during the last quarter. Hedge funds and other institutional investors own 44.18% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on AROW. StockNews.com began coverage on shares of Arrow Financial in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Piper Sandler cut their target price on shares of Arrow Financial to $33.00 in a research report on Wednesday, October 5th.

Arrow Financial Company Profile

(Get Rating)

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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