Arrow Financial (NASDAQ:AROW) Upgraded at Raymond James Financial

Arrow Financial (NASDAQ:AROW) was upgraded by equities researchers at Raymond James Financial to a “moderate buy” rating in a note issued to investors on Tuesday, Marketbeat.com reports.

Several other research analysts have also commented on the stock. Zacks Research raised shares of Arrow Financial to a “hold” rating in a report on Monday, June 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Arrow Financial in a research note on Friday, July 24th. Wall Street Zen lowered Arrow Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Piper Sandler reissued an “overweight” rating and set a $46.00 target price (up from $43.00) on shares of Arrow Financial in a research note on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Arrow Financial in a research note on Thursday, June 25th. They issued a “market perform” rating and a $42.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Arrow Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.62.

Arrow Financial Stock Performance

NASDAQ:AROW opened at $38.82 on Tuesday. The firm has a market cap of $718.95 million, a PE ratio of 12.52 and a beta of 0.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.92 and a quick ratio of 0.92. Arrow Financial has a 1-year low of $25.88 and a 1-year high of $42.70. The firm has a 50 day simple moving average of $39.89 and a 200-day simple moving average of $37.12.

Arrow Financial (NASDAQ:AROW) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.14). The firm had revenue of $52.44 million during the quarter, compared to analyst estimates of $45.51 million. Arrow Financial had a net margin of 20.56% and a return on equity of 12.13%. On average, equities analysts expect that Arrow Financial will post 3.55 EPS for the current year.

Insider Activity

In other Arrow Financial news, Director Mark Behan sold 4,110 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $38.59, for a total value of $158,604.90. Following the sale, the director owned 8,929 shares in the company, valued at approximately $344,570.11. The trade was a 31.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.48% of the company’s stock.

Hedge Funds Weigh In On Arrow Financial

Several institutional investors and hedge funds have recently modified their holdings of AROW. Global Retirement Partners LLC acquired a new stake in shares of Arrow Financial in the second quarter valued at approximately $34,000. Russell Investments Group Ltd. raised its stake in Arrow Financial by 2,045.1% during the third quarter. Russell Investments Group Ltd. now owns 1,523 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,452 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Arrow Financial by 27.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,557 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 338 shares during the last quarter. Legal & General Group Plc bought a new position in Arrow Financial in the 2nd quarter valued at approximately $66,000. Finally, BNP Paribas Financial Markets lifted its stake in Arrow Financial by 67.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,612 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 648 shares during the last quarter. 46.71% of the stock is currently owned by institutional investors and hedge funds.

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.