Arrow Financial (NASDAQ:AROW) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Arrow Financial Corporation (NASDAQ:AROW) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $30.27 and traded as high as $35.20. Arrow Financial shares last traded at $34.96, with a volume of 66,729 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AROW shares. Hovde Group lifted their target price on Arrow Financial from $33.50 to $34.50 and gave the stock a “market perform” rating in a report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arrow Financial in a report on Monday, December 29th. Finally, Wall Street Zen lowered Arrow Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.25.

Arrow Financial Trading Up 0.8%

The firm has a market capitalization of $574.81 million, a P/E ratio of 13.19 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 has a 50 day simple moving average of $33.01 and a 200-day simple moving average of $30.27.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings data 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. Arrow Financial had a net margin of 18.12% and a return on equity of 10.92%. The company had revenue of $43.65 million for the quarter, compared to the consensus estimate of $43.40 million. On average, equities research analysts forecast that Arrow Financial Corporation will post 2.65 EPS for the current fiscal year.

Arrow Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th will be paid a $0.30 dividend. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, February 11th. This represents a $1.20 annualized dividend and a dividend yield of 3.4%. Arrow Financial’s dividend payout ratio (DPR) is currently 45.28%.

Insider Buying and Selling

In related news, CEO David S. Demarco bought 3,035 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 3,035 shares of the company’s stock, valued at approximately $96,452.30. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC purchased a new stake in Arrow Financial in the 4th quarter worth approximately $2,175,000. SummerHaven Investment Management LLC bought a new position in shares of Arrow Financial in the third quarter worth approximately $871,000. Millennium Management LLC bought a new position in shares of Arrow Financial in the third quarter worth approximately $834,000. Rhino Investment Partners Inc increased its stake in shares of Arrow Financial by 13.9% in the third quarter. Rhino Investment Partners Inc now owns 227,804 shares of the financial services provider’s stock worth $6,447,000 after purchasing an additional 27,856 shares in the last quarter. Finally, Martingale Asset Management L P raised its position in shares of Arrow Financial by 114.3% during the 4th quarter. Martingale Asset Management L P now owns 48,909 shares of the financial services provider’s stock valued at $1,536,000 after purchasing an additional 26,082 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.