Arrow Financial Corporation (NASDAQ:AROW) Receives $39.83 Average PT from Brokerages

Arrow Financial Corporation (NASDAQ:AROW) has been given an average recommendation of “Hold” by the five analysts that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $39.8333.

A number of equities research analysts recently weighed in on AROW shares. Piper Sandler began coverage on shares of Arrow Financial in a research note on Friday, June 12th. They set an “overweight” rating and a $43.00 price objective on the stock. Wall Street Zen lowered shares of Arrow Financial from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Keefe, Bruyette & Woods initiated coverage on shares of Arrow Financial in a research note on Thursday, June 25th. They set a “market perform” rating and a $42.00 target price on the stock. Weiss Ratings raised shares of Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. Finally, Zacks Research upgraded shares of Arrow Financial to a “hold” rating in a research report on Monday, June 15th.

Insider Buying and Selling

In other Arrow Financial news, Director Mark Behan sold 4,110 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $38.59, for a total value of $158,604.90. Following the completion of the sale, the director directly owned 8,929 shares in the company, valued at $344,570.11. This represents a 31.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.48% of the stock is currently owned by insiders.

Institutional Trading of Arrow Financial

A number of hedge funds and other institutional investors have recently modified their holdings of AROW. Segall Bryant & Hamill LLC acquired a new stake in Arrow Financial in the 4th quarter valued at about $2,175,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Arrow Financial by 71.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 114,449 shares of the financial services provider’s stock worth $3,842,000 after purchasing an additional 47,752 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Arrow Financial in the 1st quarter worth approximately $995,000. Millennium Management LLC acquired a new position in shares of Arrow Financial in the 3rd quarter worth approximately $834,000. Finally, Martingale Asset Management L P raised its holdings in shares of Arrow Financial by 114.3% in the 4th quarter. Martingale Asset Management L P now owns 48,909 shares of the financial services provider’s stock worth $1,536,000 after purchasing an additional 26,082 shares in the last quarter. Institutional investors own 46.71% of the company’s stock.

Arrow Financial Stock Down 1.4%

AROW opened at $40.73 on Monday. The stock’s 50 day moving average price is $38.94 and its 200 day moving average price is $35.92. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $673.27 million, a P/E ratio of 13.18 and a beta of 0.76. Arrow Financial has a 12 month low of $25.83 and a 12 month high of $42.70.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.06. Arrow Financial had a return on equity of 12.38% and a net margin of 20.72%.The company had revenue of $53.39 million during the quarter, compared to analyst estimates of $43.80 million. As a group, research analysts predict that Arrow Financial will post 3.8 earnings per share for the current year.

Arrow Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Tuesday, May 12th. Arrow Financial’s dividend payout ratio (DPR) is currently 38.83%.

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.