Arrow Financial Co. (NASDAQ:AROW) Director Daniel James White Acquires 3,668 Shares

Arrow Financial Co. (NASDAQ:AROW) Director Daniel James White bought 3,668 shares of the company’s stock in a transaction on Friday, January 31st. The shares were acquired at an average price of $27.23 per share, with a total value of $99,879.64. Following the transaction, the director now directly owns 4,338 shares of the company’s stock, valued at approximately $118,123.74. This trade represents a 547.46 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Arrow Financial Stock Down 2.1 %

Shares of NASDAQ:AROW traded down $0.57 on Monday, reaching $26.04. The company had a trading volume of 59,519 shares, compared to its average volume of 40,929. The firm has a market capitalization of $435.91 million, a PE ratio of 14.71 and a beta of 0.76. 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 Co. has a 52-week low of $21.50 and a 52-week high of $34.63. The firm’s 50 day simple moving average is $29.23 and its 200-day simple moving average is $29.49.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.47 earnings per share (EPS) 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 13.32%. As a group, analysts expect that Arrow Financial Co. will post 2.7 earnings per share for the current fiscal year.

Arrow Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, February 10th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 4.30%. This is an increase from Arrow Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, February 10th. Arrow Financial’s dividend payout ratio is presently 63.28%.

Institutional Trading of Arrow Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AROW. Arrow Financial Corp lifted its position in Arrow Financial by 1.2% during the third quarter. Arrow Financial Corp now owns 1,969,793 shares of the financial services provider’s stock valued at $56,454,000 after purchasing an additional 23,198 shares during the period. Barclays PLC lifted its holdings in shares of Arrow Financial by 251.9% in the 3rd quarter. Barclays PLC now owns 21,411 shares of the financial services provider’s stock valued at $614,000 after buying an additional 15,327 shares during the period. Trust Co. of Vermont grew its holdings in Arrow Financial by 49.5% during the fourth quarter. Trust Co. of Vermont now owns 57,365 shares of the financial services provider’s stock worth $1,647,000 after acquiring an additional 19,000 shares during the period. JPMorgan Chase & Co. grew its holdings in Arrow Financial by 137.8% during the third quarter. JPMorgan Chase & Co. now owns 18,702 shares of the financial services provider’s stock worth $536,000 after acquiring an additional 10,838 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Arrow Financial by 13.0% in the third quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock valued at $99,000 after acquiring an additional 398 shares during the period. Institutional investors and hedge funds own 46.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on AROW. Hovde Group dropped 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 research note on Friday, December 27th. Piper Sandler started coverage on Arrow Financial in a report on Friday, December 20th. They set a “neutral” rating and a $32.00 price objective on the stock.

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.