Arrow Financial (NASDAQ:AROW) Stock Rating Upgraded by Keefe, Bruyette & Woods

Arrow Financial (NASDAQ:AROW) was upgraded by investment analysts at Keefe, Bruyette & Woods to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other research analysts have also commented on AROW. Wall Street Zen lowered shares of Arrow Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings upgraded shares of Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Zacks Research raised shares of Arrow Financial to a “hold” rating in a research note on Monday, June 15th. Finally, Piper Sandler initiated coverage on Arrow Financial in a research note on Friday, June 12th. They issued an “overweight” rating and a $43.00 price target on the stock. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $39.83.

Arrow Financial Price Performance

Shares of AROW stock opened at $40.14 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.92 and a current ratio of 0.92. Arrow Financial has a fifty-two week low of $25.83 and a fifty-two week high of $40.54. The firm has a market cap of $663.51 million, a P/E ratio of 12.99 and a beta of 0.77. The business’s 50 day moving average price is $37.21 and its 200-day moving average price is $34.68.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.06. The company had revenue of $53.39 million during the quarter, compared to analyst estimates of $43.80 million. Arrow Financial had a return on equity of 12.38% and a net margin of 20.72%. On average, equities research analysts anticipate that Arrow Financial will post 3.8 earnings per share for the current year.

Insider Buying and Selling

In other Arrow Financial news, Director Mark Behan sold 4,110 shares of Arrow Financial stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $38.59, for a total transaction of $158,604.90. Following the transaction, the director owned 8,929 shares of the company’s stock, valued at $344,570.11. The trade was a 31.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.48% of the company’s stock.

Institutional Trading of Arrow Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co grew its stake in Arrow Financial by 27.7% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,557 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 338 shares in the last quarter. Rhumbline Advisers grew its position in shares of Arrow Financial by 1.5% during the second quarter. Rhumbline Advisers now owns 25,307 shares of the financial services provider’s stock valued at $669,000 after purchasing an additional 367 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Arrow Financial by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,796 shares of the financial services provider’s stock valued at $258,000 after purchasing an additional 390 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Arrow Financial by 0.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 119,842 shares of the financial services provider’s stock worth $3,763,000 after purchasing an additional 511 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Arrow Financial by 10.5% in the fourth quarter. Royal Bank of Canada now owns 6,003 shares of the financial services provider’s stock worth $188,000 after buying an additional 571 shares in the last quarter. Institutional investors own 46.71% of the company’s stock.

Arrow Financial Company Profile

Arrow Financial Corporation is a bank holding company headquartered in Glens Falls, New York, that conducts its primary operations through its subsidiary, Glens Falls National Bank & Trust Company. The company provides a comprehensive suite of retail and commercial banking services, including checking and savings accounts, consumer and commercial lending, mortgage financing, and cash management solutions. Through its branch network, Arrow Financial serves individuals, small- and medium-sized businesses, and nonprofit organizations across the Adirondack region, Upper Hudson Valley, Mohawk Valley and parts of Central New York.

In addition to traditional banking, Arrow Financial has developed a robust wealth management and trust services division.