Arrow Financial Corporation (NASDAQ:AROW) Receives Average Rating of “Hold” from Analysts

Shares of Arrow Financial Corporation (NASDAQ:AROW) have earned a consensus recommendation of “Hold” from the five analysts that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $39.8333.

AROW has been the subject of several analyst reports. Keefe, Bruyette & Woods initiated coverage on shares of Arrow Financial in a research report on Thursday, June 25th. They set a “market perform” rating and a $42.00 price target for the company. Weiss Ratings upgraded shares of Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Wall Street Zen cut shares of Arrow Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Piper Sandler began coverage on shares of Arrow Financial in a report on Friday, June 12th. They set an “overweight” rating and a $43.00 target price for the company. Finally, Zacks Research raised shares of Arrow Financial to a “hold” rating in a report on Monday, June 15th.

Insider Activity at Arrow Financial

In related news, Director Mark Behan sold 4,110 shares of Arrow Financial stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $38.59, for a total transaction of $158,604.90. Following the completion of the sale, the director directly owned 8,929 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this link. 3.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arrow Financial

Several hedge funds have recently added to or reduced their stakes in AROW. Russell Investments Group Ltd. grew its position in shares of Arrow Financial by 2,045.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,523 shares of the financial services provider’s stock worth $43,000 after buying an additional 1,452 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in 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 worth $49,000 after acquiring an additional 338 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Arrow Financial by 67.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,612 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 648 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Arrow Financial by 306.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,390 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 1,802 shares during the period. Finally, LSV Asset Management acquired a new position in Arrow Financial during the fourth quarter valued at approximately $75,000. Institutional investors and hedge funds own 46.71% of the company’s stock.

Arrow Financial Price Performance

Shares of AROW stock opened at $41.56 on Monday. The stock has a 50-day moving average price of $38.63 and a 200 day moving average price of $35.71. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.06. The firm has a market cap of $686.99 million, a price-to-earnings ratio of 13.45 and a beta of 0.76. Arrow Financial has a 12 month low of $25.83 and a 12 month high of $42.70.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.06. Arrow Financial had a return on equity of 12.38% and a net margin of 20.72%.The firm had revenue of $53.39 million during the quarter, compared to analysts’ expectations of $43.80 million. Research analysts expect that Arrow Financial will post 3.8 EPS for the current year.

Arrow Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Tuesday, May 12th. Arrow Financial’s dividend payout ratio (DPR) is currently 38.83%.

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.