Piper Sandler Has Lowered Expectations for Arrow Financial (NASDAQ:AROW) Stock Price

Arrow Financial (NASDAQ:AROW) had its price objective reduced by Piper Sandler from $32.00 to $30.00 in a report published on Tuesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

Separately, Hovde Group dropped their price objective on shares of 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.

Arrow Financial Stock Up 0.6 %

AROW stock opened at $27.50 on Tuesday. The business’s 50-day moving average price is $28.85 and its 200-day moving average price is $29.43. The stock has a market cap of $460.32 million, a P/E ratio of 15.54 and a beta of 0.76. Arrow Financial has a twelve month low of $21.50 and a twelve month 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 earnings results on Thursday, January 30th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.12). Arrow Financial had a return on equity of 8.59% and a net margin of 13.32%. On average, equities research analysts forecast that Arrow Financial will post 2.7 EPS for the current 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 dividend of $0.28 per share. This is a boost from Arrow Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.12 dividend on an annualized basis and a yield of 4.07%. Arrow Financial’s dividend payout ratio is presently 63.28%.

Insider Transactions at Arrow Financial

In related news, Director Daniel James White purchased 3,668 shares of the business’s stock in a transaction on Friday, January 31st. The shares were bought at an average cost of $27.23 per share, with a total value of $99,879.64. Following the transaction, the director now 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Raymond F. O’conor sold 2,000 shares of Arrow Financial stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $28.85, for a total transaction of $57,700.00. Following the transaction, the director now directly owns 35,859 shares of the company’s stock, valued at approximately $1,034,532.15. This trade represents a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,000 shares of company stock valued at $173,640 in the last quarter. 3.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arrow Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its holdings in Arrow Financial by 13.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock valued at $99,000 after buying an additional 398 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Arrow Financial during the 3rd quarter valued at about $164,000. Carl P. Sherr & Co. LLC purchased a new stake in shares of Arrow Financial in the third quarter valued at about $216,000. Atria Investments Inc increased its position in Arrow Financial by 32.6% during the third quarter. Atria Investments Inc now owns 16,856 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 4,148 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake 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 purchasing an additional 10,838 shares during the period. Institutional investors and hedge funds own 46.71% of the company’s 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.