Wall Street Zen Downgrades Arrow Financial (NASDAQ:AROW) to Hold

Arrow Financial (NASDAQ:AROW) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

A number of other analysts have also recently weighed in on AROW. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arrow Financial in a report on Monday. Hovde Group upgraded shares of Arrow Financial from a “market perform” rating to an “outperform” rating and raised their price target for the company from $28.50 to $33.50 in a research note on Friday, October 31st. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Arrow Financial presently has an average rating of “Hold” and an average price target of $30.75.

Arrow Financial Trading Down 0.3%

Shares of NASDAQ AROW opened at $31.30 on Friday. Arrow Financial has a 12-month low of $22.72 and a 12-month high of $33.56. The company has a market cap of $514.57 million, a price-to-earnings ratio of 15.12 and a beta of 0.82. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06. The stock’s 50 day simple moving average is $30.61 and its 200 day simple moving average is $28.70.

Arrow Financial (NASDAQ:AROW) last issued its earnings results on Thursday, October 30th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.05. The firm had revenue of $8.07 million for the quarter, compared to analyst estimates of $41.00 million. Arrow Financial had a return on equity of 9.46% and a net margin of 14.65%. Equities research analysts expect that Arrow Financial will post 2.65 EPS for the current year.

Insider Activity

In other news, CEO David S. Demarco purchased 3,035 shares of the stock in a transaction dated Wednesday, December 24th. The shares were bought at an average cost of $31.78 per share, for a total transaction of $96,452.30. Following the transaction, the chief executive officer owned 3,035 shares in the company, valued at $96,452.30. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Penko Krassimir Ivanov acquired 1,620 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was purchased at an average price of $29.82 per share, with a total value of $48,308.40. Following the acquisition, the chief financial officer owned 26,394 shares of the company’s stock, valued at approximately $787,069.08. This trade represents a 6.54% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 6,299 shares of company stock worth $194,311. 3.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arrow Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Arrow Financial by 2.0% in the third quarter. Vanguard Group Inc. now owns 889,234 shares of the financial services provider’s stock worth $25,165,000 after buying an additional 17,050 shares during the period. American Century Companies Inc. lifted its stake in Arrow Financial by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 328,677 shares of the financial services provider’s stock worth $8,684,000 after acquiring an additional 5,679 shares in the last quarter. Rhino Investment Partners Inc boosted its position in Arrow Financial by 13.9% during the 3rd quarter. Rhino Investment Partners Inc now owns 227,804 shares of the financial services provider’s stock worth $6,447,000 after acquiring an additional 27,856 shares during the period. Rockefeller Capital Management L.P. grew its stake in Arrow Financial by 0.5% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 118,825 shares of the financial services provider’s stock valued at $3,139,000 after acquiring an additional 538 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in Arrow Financial by 29.3% during the 3rd quarter. Two Sigma Investments LP now owns 61,486 shares of the financial services provider’s stock valued at $1,740,000 after acquiring an additional 13,919 shares in the last quarter. 46.71% of the stock is owned by institutional investors and hedge funds.

Arrow Financial Company Profile

Arrow Financial Corporation is a bank holding company headquartered in Glens Falls, New York, that conducts its primary operations through its subsidiary, Glens Falls National Bank & Trust Company. The company provides a comprehensive suite of retail and commercial banking services, including checking and savings accounts, consumer and commercial lending, mortgage financing, and cash management solutions. Through its branch network, Arrow Financial serves individuals, small- and medium-sized businesses, and nonprofit organizations across the Adirondack region, Upper Hudson Valley, Mohawk Valley and parts of Central New York.

In addition to traditional banking, Arrow Financial has developed a robust wealth management and trust services division.