Arrow Financial (AROW) Downgraded by BidaskClub
Arrow Financial (NASDAQ:AROW) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
AROW stock opened at $38.30 on Friday. Arrow Financial has a 1 year low of $30.81 and a 1 year high of $40.15. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $552.90 million, a P/E ratio of 16.93 and a beta of 0.58.
Arrow Financial (NASDAQ:AROW) last posted its earnings results on Monday, July 23rd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. Arrow Financial had a return on equity of 12.99% and a net margin of 28.50%. The firm had revenue of $28.87 million for the quarter.
Several institutional investors have recently modified their holdings of AROW. Tower Research Capital LLC TRC purchased a new position in shares of Arrow Financial during the 2nd quarter worth $119,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Arrow Financial during the 2nd quarter worth $209,000. Acadian Asset Management LLC lifted its stake in shares of Arrow Financial by 427.1% during the 2nd quarter. Acadian Asset Management LLC now owns 10,780 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 8,735 shares during the period. Maltese Capital Management LLC purchased a new position in shares of Arrow Financial during the 1st quarter worth $509,000. Finally, Bank of America Corp DE lifted its stake in shares of Arrow Financial by 62.2% during the 2nd quarter. Bank of America Corp DE now owns 24,122 shares of the financial services provider’s stock worth $877,000 after purchasing an additional 9,254 shares during the period. 40.30% of the stock is currently owned by institutional investors.
Arrow Financial Company Profile
Arrow Financial Corporation, a multi-bank holding company, provides commercial and consumer banking, and financial products and services. Its deposit products include demand deposits, interest-bearing checking accounts, savings deposits, time deposits, and other time deposits. The company's 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 improvements to commercial properties, as well as commercial construction and land development loans to finance projects.
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