Arrow Financial Co. (NASDAQ:AROW) Short Interest Down 15.2% in January

Arrow Financial Co. (NASDAQ:AROW) was the recipient of a large decline in short interest in January. As of January 15th, there was short interest totalling 105,500 shares, a decline of 15.2% from the December 31st total of 124,400 shares. Based on an average trading volume of 43,500 shares, the short-interest ratio is presently 2.4 days.

Wall Street Analyst Weigh In

AROW has been the subject of several research reports. Hovde Group reduced their target price on Arrow Financial from $34.50 to $32.00 and set a “market perform” rating for the company in a research note on Friday, December 27th. Piper Sandler started coverage on Arrow Financial in a research note 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 Arrow Financial news, Director Raymond F. O’conor sold 2,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $32.69, for a total value of $65,380.00. Following the sale, the director now owns 37,859 shares in the company, valued at approximately $1,237,610.71. The trade was a 5.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 6,000 shares of company stock valued at $180,080 in the last three months. Corporate insiders own 3.55% of the company’s stock.

Hedge Funds Weigh In On Arrow Financial

A number of large investors have recently modified their holdings of the company. Arrow Financial Corp grew its position in Arrow Financial by 1.2% during the 3rd quarter. Arrow Financial Corp now owns 1,969,793 shares of the financial services provider’s stock worth $56,454,000 after acquiring an additional 23,198 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Arrow Financial by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 700,253 shares of the financial services provider’s stock valued at $18,241,000 after purchasing an additional 31,268 shares in the last quarter. State Street Corp lifted its holdings in Arrow Financial by 0.3% in the third quarter. State Street Corp now owns 393,719 shares of the financial services provider’s stock valued at $11,284,000 after acquiring an additional 1,022 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in Arrow Financial by 0.9% during the third 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 in the last quarter. Finally, Rockefeller Capital Management L.P. boosted 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 worth $3,349,000 after purchasing an additional 454 shares during the period. 46.71% of the stock is owned by hedge funds and other institutional investors.

Arrow Financial Stock Performance

AROW traded down $0.45 during trading hours on Friday, hitting $26.61. The stock had a trading volume of 44,507 shares, compared to its average volume of 35,430. The company’s fifty day simple moving average is $29.23 and its 200 day simple moving average is $29.49. The stock has a market cap of $445.45 million, a PE ratio of 13.58 and a beta of 0.77. Arrow Financial has a 1 year low of $21.50 and a 1 year high of $34.63. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06.

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

Arrow Financial Increases Dividend

The business also recently announced a dividend, which will be paid on Monday, February 24th. Investors of record on Tuesday, February 11th will be given a $0.28 dividend. The ex-dividend date is Monday, February 10th. This is a positive change from Arrow Financial’s previous dividend of $0.25. This represents a yield of 4.21%. Arrow Financial’s payout ratio is 57.14%.

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.