Raymond F. O’conor Sells 2,000 Shares of Arrow Financial Co. (NASDAQ:AROW) Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $26.90, for a total transaction of $53,800.00. Following the completion of the transaction, the director now directly owns 33,022 shares in the company, valued at $888,291.80. This represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Arrow Financial Trading Down 0.6 %

AROW opened at $26.11 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.93. The company’s 50 day simple moving average is $27.13 and its two-hundred day simple moving average is $29.06. The firm has a market capitalization of $437.06 million, a price-to-earnings ratio of 14.75 and a beta of 0.76. Arrow Financial Co. has a 1-year low of $21.50 and a 1-year high of $34.63.

Arrow Financial (NASDAQ:AROW) last released its quarterly earnings data 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 13.32%. Analysts expect that Arrow Financial Co. will post 2.65 EPS for the current fiscal year.

Arrow Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 10th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from Arrow Financial’s previous quarterly dividend of $0.25. This represents a $1.12 dividend on an annualized basis and a yield of 4.29%. Arrow Financial’s payout ratio is 63.28%.

Hedge Funds Weigh In On Arrow Financial

Several institutional investors and hedge funds have recently bought and sold shares of the company. Arrow Financial Corp increased its stake 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 worth $56,454,000 after acquiring an additional 23,198 shares during the last quarter. Barclays PLC increased its position in shares of Arrow Financial by 251.9% during the 3rd quarter. Barclays PLC now owns 21,411 shares of the financial services provider’s stock worth $614,000 after purchasing an additional 15,327 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Arrow Financial by 137.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,702 shares of the financial services provider’s stock valued at $536,000 after buying an additional 10,838 shares during the period. Trust Co. of Vermont lifted its position in Arrow Financial by 49.5% in the fourth quarter. Trust Co. of Vermont now owns 57,365 shares of the financial services provider’s stock valued at $1,647,000 after buying an additional 19,000 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Arrow Financial by 13.0% during the third quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock worth $99,000 after buying an additional 398 shares during the period. 46.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Hovde Group decreased their target price on Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a research report on Friday, December 27th. Piper Sandler decreased their price objective on Arrow Financial from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th.

About Arrow Financial

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.