Short Interest in Arrow Financial Corporation (NASDAQ:AROW) Increases By 35.8%

Arrow Financial Corporation (NASDAQ:AROW) was the recipient of a significant increase in short interest in February. As of February 27th, there was short interest totaling 139,839 shares, an increase of 35.8% from the February 12th total of 102,968 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average daily volume of 71,558 shares, the short-interest ratio is presently 2.0 days. Based on an average daily volume of 71,558 shares, the short-interest ratio is presently 2.0 days. Approximately 0.9% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AROW shares. 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 raised Arrow Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. Finally, Wall Street Zen raised Arrow Financial from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Arrow Financial currently has an average rating of “Hold” and an average price target of $31.25.

Insider Buying and Selling at Arrow Financial

In other news, CEO David S. Demarco bought 3,035 shares of Arrow Financial stock in a transaction dated Wednesday, December 24th. The shares were purchased at an average cost of $31.78 per share, with a total value of $96,452.30. Following the completion of the acquisition, the chief executive officer owned 3,035 shares of the company’s stock, valued at $96,452.30. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arrow Financial

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

Arrow Financial Price Performance

Shares of AROW stock opened at $32.48 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.92 and a quick ratio of 0.93. The company has a market capitalization of $536.24 million, a P/E ratio of 12.26 and a beta of 0.81. The company’s 50-day simple moving average is $33.61 and its two-hundred day simple moving average is $30.96. Arrow Financial has a one year low of $22.72 and a one year high of $36.44.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.04. The firm had revenue of $43.65 million during the quarter, compared to the consensus estimate of $43.40 million. Arrow Financial had a net margin of 18.12% and a return on equity of 10.77%. As a group, equities analysts anticipate that Arrow Financial will post 2.65 EPS for the current year.

Arrow Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.7%. The ex-dividend date was Wednesday, February 11th. This is an increase from Arrow Financial’s previous quarterly dividend of $0.29. Arrow Financial’s dividend payout ratio (DPR) is 45.28%.

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.