Key Points
- Insider sale: Arrow Financial director Mark Behan sold 4,110 shares on June 17 at an average price of $38.59, totaling about $158,605. After the sale, he still held 8,929 shares, a 31.52% reduction in ownership.
- Strong recent results: The company reported quarterly EPS of $0.85, beating analyst estimates of $0.79, on revenue of $53.39 million versus expectations of $43.80 million. Analysts now expect full-year EPS of about 3.8.
- Dividend and outlook: Arrow Financial recently paid a quarterly dividend of $0.30 per share, implying a 3.1% annual yield. Analysts have a mixed but generally positive view, with a consensus rating of Moderate Buy and a price target of $38.75.
Arrow Financial Corporation (NASDAQ:AROW - Get Free Report) Director Mark Behan sold 4,110 shares of the business's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $38.59, for a total transaction of $158,604.90. Following the completion of the transaction, the director owned 8,929 shares of the company's stock, valued at $344,570.11. This represents a 31.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Arrow Financial Stock Performance
AROW stock opened at $39.07 on Tuesday. The firm has a market cap of $645.83 million, a price-to-earnings ratio of 12.64 and a beta of 0.77. The firm has a 50-day simple moving average of $36.98 and a two-hundred day simple moving average of $34.49. Arrow Financial Corporation has a one year low of $24.90 and a one year high of $40.29. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.92 and a current ratio of 0.92.
Arrow Financial (NASDAQ:AROW - Get Free Report) last issued its quarterly earnings data 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 net margin of 20.72% and a return on equity of 12.38%. The firm had revenue of $53.39 million for the quarter, compared to the consensus estimate of $43.80 million. On average, equities analysts forecast that Arrow Financial Corporation will post 3.8 EPS for the current fiscal year.
Arrow Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.1%. The ex-dividend date was Tuesday, May 12th. Arrow Financial's dividend payout ratio (DPR) is 38.83%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its holdings in shares of Arrow Financial by 67.2% during the second quarter. BNP Paribas Financial Markets now owns 1,612 shares of the financial services provider's stock worth $43,000 after purchasing an additional 648 shares during the period. Russell Investments Group Ltd. increased its holdings in Arrow Financial by 2,045.1% in 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 period. CANADA LIFE ASSURANCE Co increased its holdings in Arrow Financial by 27.7% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,557 shares of the financial services provider's stock worth $49,000 after buying an additional 338 shares during the period. Tower Research Capital LLC TRC raised its position in Arrow Financial by 306.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,390 shares of the financial services provider's stock worth $63,000 after buying an additional 1,802 shares during the last quarter. Finally, LSV Asset Management purchased a new position in Arrow Financial during the 4th quarter worth approximately $75,000. 46.71% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on AROW shares. Zacks Research raised Arrow Financial to a "hold" rating in a research report on Monday, June 15th. Piper Sandler initiated coverage on Arrow Financial in a research report on Friday, June 12th. They issued an "overweight" rating and a $43.00 price objective for the company. Wall Street Zen downgraded Arrow Financial from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, Weiss Ratings upgraded Arrow Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, April 27th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $38.75.
Get Our Latest Stock Analysis on AROW
Arrow Financial Company Profile
(
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.
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