Arrow Financial (NASDAQ:AROW) Upgraded to Buy at Wall Street Zen

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

Other equities research analysts have also recently issued reports about the company. Hovde Group increased their price target on Arrow Financial from $33.50 to $34.50 and gave the company a “market perform” rating in a research note on Monday, February 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of Arrow Financial in a research note on Monday, December 29th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $31.25.

Arrow Financial Price Performance

Shares of AROW opened at $33.45 on Friday. The company has a 50 day moving average of $33.48 and a two-hundred day moving average of $30.81. 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 has a twelve month low of $22.72 and a twelve month high of $36.44. The company has a market cap of $549.92 million, a price-to-earnings ratio of 12.62 and a beta of 0.81.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04. The business had revenue of $43.65 million for the quarter, compared to the consensus estimate of $43.40 million. Arrow Financial had a return on equity of 10.92% and a net margin of 18.12%. As a group, analysts predict that Arrow Financial will post 2.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arrow Financial news, CEO David S. Demarco bought 3,035 shares of Arrow Financial stock in a transaction on Wednesday, December 24th. The shares were bought at an average price of $31.78 per share, for a total transaction of $96,452.30. Following the completion of the transaction, the chief executive officer directly owned 3,035 shares of the company’s stock, valued at $96,452.30. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 3.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Arrow Financial

A number of large investors have recently modified their holdings of the company. XTX Topco Ltd acquired a new position in Arrow Financial in the fourth quarter valued at approximately $240,000. Occudo Quantitative Strategies LP purchased a new stake in shares of Arrow Financial in the fourth quarter valued at about $287,000. Millennium Management LLC lifted its position in Arrow Financial by 5.2% during the 4th quarter. Millennium Management LLC now owns 31,001 shares of the financial services provider’s stock worth $973,000 after acquiring an additional 1,525 shares during the period. AQR Capital Management LLC raised its position in Arrow Financial by 40.2% during the 4th quarter. AQR Capital Management LLC now owns 45,987 shares of the financial services provider’s stock worth $1,444,000 after buying an additional 13,192 shares during the last quarter. Finally, Trexquant Investment LP lifted its position in Arrow Financial by 35.0% in the fourth quarter. Trexquant Investment LP now owns 9,563 shares of the financial services provider’s stock valued at $300,000 after purchasing an additional 2,477 shares during the period. 46.71% of the stock is owned by hedge funds and other institutional investors.

About Arrow Financial

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.