Key Points
- CEO insider purchase: Arrow Financial CEO David Demarco bought 3,035 shares on December 24 at an average price of $31.78 (total ≈ $96,452), a transaction disclosed in an SEC Form 4 that increased his holdings from zero to 3,035 shares.
- Valuation and dividend: The stock has a market cap of about $518.5M and a P/E of 15.24, and pays a $0.29 quarterly dividend (annualized $1.16) for a yield near 3.7% with a payout ratio around 56%.
- Recent results and analyst view: Arrow beat EPS estimates last quarter ($0.77 vs. $0.72) but the MarketBeat consensus remains a Hold with an average target of $30.75, despite upgrades from some firms like Hovde Group and Wall Street Zen.
Arrow Financial Corporation (NASDAQ:AROW - Get Free Report) CEO David Demarco purchased 3,035 shares of Arrow Financial stock in a transaction dated Wednesday, December 24th. The stock was bought at an average price of $31.78 per share, with a total value 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 $96,452.30. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Arrow Financial Price Performance
AROW stock opened at $31.54 on Wednesday. The stock has a market cap of $518.52 million, a PE ratio of 15.24 and a beta of 0.82. The firm has a 50 day simple moving average of $30.37 and a two-hundred day simple moving average of $28.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.93. Arrow Financial Corporation has a one year low of $22.72 and a one year high of $33.56.
Arrow Financial (NASDAQ:AROW - Get Free Report) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.05. Arrow Financial had a return on equity of 9.46% and a net margin of 14.65%.The business had revenue of $8.07 million for the quarter, compared to analyst estimates of $41.00 million. On average, analysts predict that Arrow Financial Corporation will post 2.65 EPS for the current fiscal year.
Arrow Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Wednesday, November 12th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.7%. The ex-dividend date was Wednesday, November 12th. Arrow Financial's dividend payout ratio (DPR) is presently 56.04%.
Institutional Investors Weigh In On Arrow Financial
A number of institutional investors have recently modified their holdings of AROW. Russell Investments Group Ltd. lifted its holdings in Arrow Financial by 2,045.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,523 shares of the financial services provider's stock worth $43,000 after buying an additional 1,452 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Arrow Financial by 67.2% in the second quarter. BNP Paribas Financial Markets now owns 1,612 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 648 shares during the period. CWM LLC lifted its position in shares of Arrow Financial by 159.5% during the 3rd quarter. CWM LLC now owns 1,754 shares of the financial services provider's stock valued at $50,000 after acquiring an additional 1,078 shares during the period. Tower Research Capital LLC TRC raised its holdings in Arrow Financial by 306.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,390 shares of the financial services provider's stock worth $63,000 after purchasing an additional 1,802 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Arrow Financial during the 2nd quarter valued at about $198,000. 46.71% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of Arrow Financial in a research report on Monday. Hovde Group raised shares of Arrow Financial from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $28.50 to $33.50 in a research note on Friday, October 31st. Finally, Wall Street Zen raised shares of Arrow Financial from a "hold" rating to a "buy" rating in a research report on Saturday, December 6th. 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, the company has a consensus rating of "Hold" and an average target price of $30.75.
Check Out Our Latest Stock Analysis on AROW
About Arrow Financial
(
Get Free Report)
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.
Further Reading
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