Arrow Financial Co. (NASDAQ:AROW) Short Interest Update

Arrow Financial Co. (NASDAQ:AROW) was the recipient of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 220,300 shares, a growth of 14.0% from the January 31st total of 193,300 shares. Based on an average trading volume of 57,800 shares, the days-to-cover ratio is currently 3.8 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Great West Life Assurance Co. Can grew its position in shares of Arrow Financial by 71.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 944 shares of the financial services provider’s stock worth $32,000 after buying an additional 395 shares during the last quarter. Ensign Peak Advisors Inc purchased a new stake in Arrow Financial during the 3rd quarter worth approximately $28,000. GAMMA Investing LLC purchased a new stake in Arrow Financial during the 4th quarter worth approximately $29,000. Steward Partners Investment Advisory LLC purchased a new stake in Arrow Financial during the 4th quarter worth approximately $40,000. Finally, CWM LLC grew its position in Arrow Financial by 226.1% during the 3rd quarter. CWM LLC now owns 1,562 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,083 shares during the last quarter. Hedge funds and other institutional investors own 44.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Hovde Group assumed coverage on shares of Arrow Financial in a report on Tuesday, January 9th. They set a “market perform” rating for the company. TheStreet upgraded shares of Arrow Financial from a “c” rating to a “b-” rating in a report on Friday, November 10th.

Arrow Financial Stock Up 2.6 %

Shares of NASDAQ:AROW traded up $0.62 during trading hours on Tuesday, hitting $24.46. The company’s stock had a trading volume of 25,188 shares, compared to its average volume of 46,002. Arrow Financial has a 52 week low of $16.65 and a 52 week high of $29.72. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $417.29 million, a price-to-earnings ratio of 13.80 and a beta of 0.69. The firm’s fifty day moving average price is $25.65 and its 200 day moving average price is $22.78.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings results on Thursday, February 1st. The financial services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.04). Arrow Financial had a net margin of 15.69% and a return on equity of 8.32%. The business had revenue of $33.10 million during the quarter, compared to the consensus estimate of $35.01 million. As a group, research analysts expect that Arrow Financial will post 2.33 EPS for the current year.

Arrow Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Monday, February 12th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.42%. This is an increase from Arrow Financial’s previous quarterly dividend of $0.25. Arrow Financial’s payout ratio is presently 60.87%.

About Arrow Financial

Arrow Financial Corporation, a bank holding company, provides commercial and consumer banking, and financial products and services. The company's deposit products include demand deposits, interest-bearing checking accounts, savings deposits, time deposits, and other time deposits. Its 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.