Arrow Financial Co. (NASDAQ:AROW - Get Free Report) Director Raymond F. O'conor sold 2,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $32.69, for a total transaction of $65,380.00. Following the completion of the transaction, the director now owns 37,859 shares of the company's stock, valued at $1,237,610.71. This represents a 5.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Arrow Financial Stock Performance
Shares of AROW stock opened at $32.46 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $543.35 million, a PE ratio of 16.56 and a beta of 0.75. Arrow Financial Co. has a 1 year low of $21.50 and a 1 year high of $34.63. The stock has a fifty day moving average price of $30.40 and a 200 day moving average price of $28.54.
Arrow Financial (NASDAQ:AROW - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. The business had revenue of $57.58 million for the quarter. Arrow Financial had a net margin of 15.00% and a return on equity of 8.59%.
Arrow Financial Increases Dividend
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The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Tuesday, October 15th were given a $0.28 dividend. The ex-dividend date was Tuesday, October 15th. This is a positive change from Arrow Financial's previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 3.45%. Arrow Financial's dividend payout ratio is currently 57.14%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its holdings in Arrow Financial by 13.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider's stock valued at $99,000 after buying an additional 398 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Arrow Financial by 0.4% in the third quarter. Rockefeller Capital Management L.P. now owns 116,867 shares of the financial services provider's stock valued at $3,349,000 after acquiring an additional 454 shares in the last quarter. ClariVest Asset Management LLC boosted its stake in shares of Arrow Financial by 2.8% during the second quarter. ClariVest Asset Management LLC now owns 37,247 shares of the financial services provider's stock valued at $970,000 after acquiring an additional 1,017 shares during the last quarter. State Street Corp increased its position in Arrow Financial by 0.3% during the 3rd quarter. State Street Corp now owns 393,719 shares of the financial services provider's stock worth $11,284,000 after purchasing an additional 1,022 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in Arrow Financial by 0.9% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 118,630 shares of the financial services provider's stock valued at $3,400,000 after purchasing an additional 1,100 shares during the last quarter. 46.71% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, Hovde Group initiated coverage on shares of Arrow Financial in a report on Monday, September 9th. They issued a "market perform" rating and a $31.00 target price for the company.
Check Out Our Latest Research Report on Arrow Financial
About Arrow Financial
(
Get Free Report)
Arrow Financial Corporation, a bank holding company, provides commercial and consumer banking, and financial products and services. The company's deposit products include demand deposits, interest-bearing checking accounts, savings deposits, time deposits, and other time deposits. Its lending activities comprise commercial loans, such as term loans, time notes, and lines of credit; and commercial real estate loans to finance real estate purchases, refinancing, expansions, and enhancement to commercial properties, as well as commercial construction and land development loans to finance projects.
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