StockNews.com Downgrades Arrow Financial (NASDAQ:AROW) to Sell

Arrow Financial (NASDAQ:AROW) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

AROW has been the topic of several other research reports. Hovde Group dropped their price target on 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 cut their target price 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.

Arrow Financial Price Performance

NASDAQ AROW opened at $23.75 on Thursday. Arrow Financial has a 12 month low of $21.58 and a 12 month high of $34.63. The firm has a market capitalization of $397.05 million, a PE ratio of 13.42 and a beta of 0.71. The company’s 50 day simple moving average is $25.86 and its 200 day simple moving average is $28.21. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.93.

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

Insiders Place Their Bets

In related news, Director Daniel James White purchased 3,668 shares of Arrow Financial stock in a transaction dated Friday, January 31st. The stock was acquired at an average cost of $27.23 per share, with a total value of $99,879.64. Following the completion of the transaction, the director now directly owns 4,338 shares of the company’s stock, valued at $118,123.74. This trade represents a 547.46 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Raymond F. O’conor sold 2,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $25.28, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,000 shares of company stock worth $156,240. Corporate insiders own 3.55% of the company’s stock.

Institutional Trading of Arrow Financial

Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its holdings in shares of Arrow Financial by 130.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,241 shares of the financial services provider’s stock valued at $36,000 after buying an additional 703 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in 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 valued at $99,000 after acquiring an additional 398 shares during the last quarter. SG Americas Securities LLC grew its position in Arrow Financial by 18.5% in the fourth quarter. SG Americas Securities LLC now owns 6,765 shares of the financial services provider’s stock worth $194,000 after acquiring an additional 1,056 shares in the last quarter. State of Tennessee Department of Treasury bought a new stake in Arrow Financial in the fourth quarter worth approximately $198,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Arrow Financial by 4.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,406 shares of the financial services provider’s stock worth $270,000 after purchasing an additional 436 shares during the last quarter. Institutional investors and hedge funds own 46.71% of the company’s stock.

Arrow Financial Company Profile

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.