Arrow Financial Corporation (NASDAQ:AROW) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Arrow Financial Corporation (NASDAQ:AROW) has received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $41.6250.

Several equities analysts have recently issued reports on AROW shares. Zacks Research raised Arrow Financial to a “hold” rating in a research note on Monday, June 15th. Keefe, Bruyette & Woods initiated coverage on Arrow Financial in a report on Thursday, June 25th. They set a “market perform” rating and a $42.00 price objective for the company. Piper Sandler restated an “overweight” rating and set a $46.00 target price (up from $43.00) on shares of Arrow Financial in a research report on Tuesday, July 28th. Raymond James Financial started coverage on shares of Arrow Financial in a research note on Tuesday, September 1st. They issued an “outperform” rating and a $44.00 target price on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Arrow Financial in a research report on Friday, July 24th.

Insider Buying and Selling

In other Arrow Financial news, Director Mark Behan sold 4,110 shares of Arrow Financial stock in a transaction 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 completion of the sale, the director owned 8,929 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.48% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AROW. Sequoia Financial Advisors LLC acquired a new position in Arrow Financial in the second quarter valued at about $402,000. Integrated Wealth Concepts LLC acquired a new position in shares of Arrow Financial during the 2nd quarter worth about $230,000. California State Teachers Retirement System grew its position in shares of Arrow Financial by 951.5% during the 2nd quarter. California State Teachers Retirement System now owns 9,264 shares of the financial services provider’s stock worth $380,000 after buying an additional 8,383 shares during the period. Susquehanna Fundamental Investments LLC increased its stake in shares of Arrow Financial by 2.9% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 16,986 shares of the financial services provider’s stock valued at $696,000 after acquiring an additional 484 shares during the last quarter. Finally, Corient Private Wealth LP bought a new stake in shares of Arrow Financial in the 2nd quarter valued at about $253,000. 46.71% of the stock is currently owned by institutional investors.

Arrow Financial Price Performance

AROW opened at $38.93 on Tuesday. Arrow Financial has a one year low of $25.88 and a one year high of $42.70. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.92 and a quick ratio of 0.92. The company’s 50 day simple moving average is $39.57 and its 200-day simple moving average is $37.38. The stock has a market capitalization of $720.98 million, a P/E ratio of 12.56 and a beta of 0.75.

Arrow Financial (NASDAQ:AROW) last posted 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 company had revenue of $44.19 million during the quarter, compared to the consensus estimate of $45.51 million. Arrow Financial had a return on equity of 12.13% and a net margin of 20.56%. Sell-side analysts anticipate that Arrow Financial will post 3.53 earnings per share for the current fiscal year.

Arrow Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $1.20 dividend on an annualized basis and a yield of 3.1%. Arrow Financial’s dividend payout ratio (DPR) is presently 38.71%.

Arrow Financial Company Profile

Arrow Financial Corporation is a bank holding company headquartered in Glens Falls, New York. Through its banking subsidiaries, the company provides a range of financial services to individuals, families, businesses and municipal organizations.

Arrow’s primary banking activities include deposit accounts, residential and commercial lending, consumer loans, mortgages, cash management and other business banking services. Its subsidiaries also offer wealth management, investment advisory, trust and retirement planning services, as well as insurance-related products through affiliated operations.

The company serves communities primarily in northeastern New York, including the greater Capital Region, the Adirondacks and the areas surrounding Saratoga Springs and Glens Falls.