Arrow Financial (NASDAQ:AROW) Sees Large Volume Increase – What’s Next?

Arrow Financial Corporation (NASDAQ:AROW) saw unusually-high trading volume on Thursday . Approximately 65,734 shares changed hands during mid-day trading, an increase of 6% from the previous session’s volume of 61,924 shares.The stock last traded at $32.1650 and had previously closed at $31.70.

Analysts Set New Price Targets

Several analysts recently issued reports on AROW shares. Wall Street Zen cut shares of Arrow Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arrow Financial in a research note on Monday, December 29th. Finally, Hovde Group cut Arrow Financial from an “outperform” rating to a “market perform” rating in a research report on Monday, January 12th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Arrow Financial presently has a consensus rating of “Hold” and an average price target of $30.75.

Arrow Financial Trading Down 0.3%

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $537.09 million, a price-to-earnings ratio of 15.78 and a beta of 0.82. The business has a fifty day moving average of $31.33 and a 200-day moving average of $29.15.

Arrow Financial (NASDAQ:AROW) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.05. Arrow Financial had a return on equity of 9.46% and a net margin of 14.65%.The company had revenue of $8.07 million during the quarter, compared to the consensus estimate of $41.00 million. On average, equities analysts anticipate that Arrow Financial Corporation will post 2.65 earnings per share for the current fiscal year.

Arrow Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Wednesday, November 12th were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, November 12th. This represents a $1.16 dividend on an annualized basis and a yield of 3.6%. Arrow Financial’s dividend payout ratio (DPR) is presently 56.04%.

Insider Buying and Selling at Arrow Financial

In other news, CEO David S. Demarco bought 3,035 shares of the company’s stock in a transaction on Wednesday, December 24th. The shares were acquired at an average cost of $31.78 per share, with a total value of $96,452.30. Following the completion of the transaction, the chief executive officer owned 3,035 shares of the company’s stock, valued at approximately $96,452.30. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Penko Krassimir Ivanov purchased 1,620 shares of the stock in a transaction on Tuesday, November 4th. The shares were purchased at an average cost of $29.82 per share, for a total transaction of $48,308.40. Following the acquisition, the chief financial officer directly owned 26,394 shares of the company’s stock, valued at approximately $787,069.08. This represents a 6.54% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 6,299 shares of company stock valued at $194,311. Corporate insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Arrow Financial by 2.0% in the third quarter. Vanguard Group Inc. now owns 889,234 shares of the financial services provider’s stock valued at $25,165,000 after purchasing an additional 17,050 shares during the period. American Century Companies Inc. boosted its position in Arrow Financial by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 328,677 shares of the financial services provider’s stock worth $8,684,000 after acquiring an additional 5,679 shares during the period. Rhino Investment Partners Inc raised its position in Arrow Financial by 13.9% in the third quarter. Rhino Investment Partners Inc now owns 227,804 shares of the financial services provider’s stock worth $6,447,000 after acquiring an additional 27,856 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in Arrow Financial by 0.5% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 118,825 shares of the financial services provider’s stock worth $3,139,000 after purchasing an additional 538 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in Arrow Financial by 29.3% in the 3rd quarter. Two Sigma Investments LP now owns 61,486 shares of the financial services provider’s stock valued at $1,740,000 after buying an additional 13,919 shares during the period. 46.71% of the stock is owned by hedge funds and other institutional investors.

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.