Arrow Financial (NASDAQ:AROW) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Arrow Financial Corporation (NASDAQ:AROW) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $37.41 and traded as high as $39.61. Arrow Financial shares last traded at $38.81, with a volume of 58,208 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AROW shares. Zacks Research raised shares of Arrow Financial to a “hold” rating in a research report on Monday, June 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Arrow Financial in a research note on Friday, July 24th. Raymond James Financial started coverage on Arrow Financial in a research note on Tuesday, September 1st. They set an “outperform” rating and a $44.00 price target for the company. Piper Sandler reissued an “overweight” rating and issued a $46.00 price objective (up from $43.00) on shares of Arrow Financial in a research note on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods began coverage on Arrow Financial in a report on Thursday, June 25th. They issued a “market perform” rating and a $42.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Arrow Financial has an average rating of “Moderate Buy” and a consensus target price of $41.62.

Arrow Financial Stock Performance

The company’s 50 day moving average price is $39.50 and its 200-day moving average price is $37.44. The stock has a market cap of $705.98 million, a P/E ratio of 12.30 and a beta of 0.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.92 and a current ratio of 0.92.

Arrow Financial (NASDAQ:AROW) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.71 earnings per share 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 firm had revenue of $44.19 million for the quarter, compared to the consensus estimate of $45.51 million. Equities analysts forecast that Arrow Financial Corporation will post 3.53 EPS for the current fiscal year.

Arrow Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were paid a $0.30 dividend. The ex-dividend date was Tuesday, August 11th. This represents a $1.20 annualized dividend and a yield of 3.1%. Arrow Financial’s dividend payout ratio (DPR) is 38.71%.

Hedge Funds Weigh In On Arrow Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Global Retirement Partners LLC purchased a new stake in shares of Arrow Financial during the second quarter valued at approximately $34,000. Legal & General Group Plc purchased a new position in Arrow Financial in the second quarter worth $66,000. LSV Asset Management purchased a new position in Arrow Financial in the fourth quarter worth $75,000. The Manufacturers Life Insurance Company bought a new position in Arrow Financial in the 2nd quarter valued at $202,000. Finally, Integrated Wealth Concepts LLC bought a new position in Arrow Financial in the 2nd quarter valued at $230,000. Hedge funds and other institutional investors own 46.71% of the company’s stock.

Arrow Financial Company Profile

Arrow Financial Corporation is a bank holding company headquartered in Glens Falls, New York. Through its banking subsidiaries, the company provides a range of financial services to individuals, families, businesses and municipal organizations.

Arrow’s primary banking activities include deposit accounts, residential and commercial lending, consumer loans, mortgages, cash management and other business banking services. Its subsidiaries also offer wealth management, investment advisory, trust and retirement planning services, as well as insurance-related products through affiliated operations.

The company serves communities primarily in northeastern New York, including the greater Capital Region, the Adirondacks and the areas surrounding Saratoga Springs and Glens Falls.