Arrow Financial Co. (AROW) To Go Ex-Dividend on February 10th

Arrow Financial Co. (NASDAQ:AROW) declared a dividend on Saturday, February 1st,investing.com reports. Investors of record on Tuesday, February 11th will be given a dividend of 0.28 per share by the financial services provider on Monday, February 24th. This represents a yield of 4.21%. The ex-dividend date of this dividend is Monday, February 10th. This is an increase from Arrow Financial’s previous dividend of $0.25.

Arrow Financial has increased its dividend by an average of 4.4% annually over the last three years. Arrow Financial has a payout ratio of 37.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Arrow Financial to earn $2.70 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 41.5%.

Arrow Financial Stock Performance

AROW opened at $26.61 on Monday. The firm has a market capitalization of $445.42 million, a PE ratio of 13.58 and a beta of 0.77. Arrow Financial has a twelve month low of $21.50 and a twelve month high of $34.63. The firm’s 50-day moving average price is $29.23 and its 200 day moving average price is $29.49. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.12). Arrow Financial had a return on equity of 8.59% and a net margin of 15.00%. As a group, sell-side analysts expect that Arrow Financial will post 2.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AROW shares. Hovde Group decreased their target price on shares of Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a report on Friday, December 27th. Piper Sandler started coverage on shares of Arrow Financial in a report on Friday, December 20th. They issued a “neutral” rating and a $32.00 target price on the stock.

Insider Buying and Selling at Arrow Financial

In other news, Director Raymond F. O’conor sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $32.69, for a total value of $65,380.00. Following the sale, the director now directly owns 37,859 shares of the company’s stock, valued at approximately $1,237,610.71. The trade was a 5.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.55% of the stock is currently owned by company insiders.

Arrow Financial Company Profile

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.