Analysts Set Arrow Financial Corporation (NASDAQ:AROW) PT at $40.83

Arrow Financial Corporation (NASDAQ:AROW) has been given an average recommendation of “Hold” by the five brokerages that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $40.8333.

Several brokerages recently issued reports on AROW. Zacks Research raised shares of Arrow Financial to a “hold” rating in a report on Monday, June 15th. Wall Street Zen lowered Arrow Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Arrow Financial in a research report on Friday, July 24th. Keefe, Bruyette & Woods assumed coverage on Arrow Financial in a research report on Thursday, June 25th. They set a “market perform” rating and a $42.00 target price on the stock. Finally, Piper Sandler reiterated an “overweight” rating and issued a $46.00 price target (up from $43.00) on shares of Arrow Financial in a report on Tuesday, July 28th.

Insider Transactions at Arrow Financial

In other Arrow Financial news, Director Mark Behan sold 4,110 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $38.59, for a total value of $158,604.90. Following the completion of the transaction, the director directly owned 8,929 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. 3.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

Arrow Financial Stock Up 0.4%

NASDAQ:AROW opened at $38.33 on Friday. 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 company has a 50-day moving average of $40.09 and a 200 day moving average of $36.94. The firm has a market cap of $709.87 million, a PE ratio of 12.36 and a beta of 0.76.

Arrow Financial (NASDAQ:AROW) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.14). Arrow Financial had a net margin of 20.56% and a return on equity of 12.13%. The business had revenue of $52.44 million for the quarter, compared to analysts’ expectations of $45.51 million. As a group, research analysts anticipate that Arrow Financial will post 3.55 EPS for the current fiscal year.

Arrow Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, August 11th. Arrow Financial’s payout ratio is 38.71%.

About Arrow Financial

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.