Daniel James White Buys 1,644 Shares of Arrow Financial (NASDAQ:AROW) Stock

Arrow Financial Corporation (NASDAQ:AROW) Director Daniel James White purchased 1,644 shares of the stock in a transaction dated Monday, November 10th. The shares were bought at an average price of $30.14 per share, with a total value of $49,550.16. Following the completion of the acquisition, the director directly owned 6,890 shares of the company’s stock, valued at approximately $207,664.60. This represents a 31.34% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Arrow Financial Trading Down 0.2%

Shares of NASDAQ:AROW traded down $0.05 during midday trading on Wednesday, hitting $30.93. 26,663 shares of the stock were exchanged, compared to its average volume of 41,968. The stock has a market capitalization of $509.39 million, a price-to-earnings ratio of 16.88 and a beta of 0.83. The business’s 50-day moving average price is $28.33 and its 200 day moving average price is $27.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.93 and a current ratio of 0.93. Arrow Financial Corporation has a 12 month low of $22.72 and a 12 month high of $34.51.

Arrow Financial (NASDAQ:AROW) last announced its earnings results on Thursday, October 30th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.72 by $0.05. The firm had revenue of $8.07 million for the quarter, compared to the consensus estimate of $41.00 million. Arrow Financial had a return on equity of 8.64% and a net margin of 13.28%. Analysts predict that Arrow Financial Corporation will post 2.65 earnings per share for the current year.

Arrow Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Wednesday, November 12th will be paid a $0.29 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $1.16 annualized dividend and a dividend yield of 3.8%. Arrow Financial’s dividend payout ratio (DPR) is currently 56.04%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Hovde Group upgraded Arrow Financial from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $28.50 to $33.50 in a report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Arrow Financial in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.75.

Institutional Trading of Arrow Financial

Several institutional investors and hedge funds have recently made changes to their positions in AROW. Vanguard Group Inc. raised its stake in Arrow Financial by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 833,728 shares of the financial services provider’s stock valued at $21,919,000 after acquiring an additional 30,459 shares during the period. Nuveen LLC purchased a new position in shares of Arrow Financial in the first quarter worth about $1,530,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Arrow Financial in the first quarter valued at approximately $482,000. Angel Oak Capital Advisors LLC purchased a new stake in shares of Arrow Financial during the 1st quarter valued at approximately $289,000. Finally, Deutsche Bank AG lifted its stake in shares of Arrow Financial by 268.2% during the 1st quarter. Deutsche Bank AG now owns 42,407 shares of the financial services provider’s stock valued at $1,115,000 after buying an additional 30,891 shares in the last quarter. Hedge funds and other institutional investors own 46.71% of the company’s stock.

Arrow Financial Company Profile

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 enhancement to commercial properties, as well as commercial construction and land development loans to finance projects.