Arrow Financial (NASDAQ:AROW) CEO David Demarco Acquires 3,035 Shares of Stock

Arrow Financial Corporation (NASDAQ:AROW) CEO David Demarco acquired 3,035 shares of the stock in a transaction dated Wednesday, December 24th. The shares were bought at an average cost of $31.78 per share, for a total transaction of $96,452.30. Following the acquisition, the chief executive officer owned 3,035 shares in the company, valued at $96,452.30. The trade was a ? increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Arrow Financial Stock Down 0.2%

AROW stock opened at $31.54 on Wednesday. Arrow Financial Corporation has a twelve month low of $22.72 and a twelve month high of $33.56. The company has a market cap of $518.52 million, a PE ratio of 15.24 and a beta of 0.82. The business’s 50-day simple moving average is $30.37 and its 200 day simple moving average is $28.62. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06.

Arrow Financial (NASDAQ:AROW) last posted 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. The firm had revenue of $8.07 million during the quarter, compared to analyst estimates of $41.00 million. Arrow Financial had a net margin of 14.65% and a return on equity of 9.46%. On average, research analysts anticipate that Arrow Financial Corporation will post 2.65 earnings per share for the current year.

Arrow Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Wednesday, November 12th were issued a $0.29 dividend. The ex-dividend date was Wednesday, November 12th. This represents a $1.16 annualized dividend and a yield of 3.7%. Arrow Financial’s dividend payout ratio (DPR) is currently 56.04%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AROW. Weiss Ratings restated a “hold (c+)” rating on shares of Arrow Financial in a report on Monday. Hovde Group upgraded Arrow Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $28.50 to $33.50 in a report on Friday, October 31st. Finally, Wall Street Zen upgraded shares of Arrow Financial from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.75.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AROW. HighTower Advisors LLC lifted its holdings in Arrow Financial by 4.9% in the first quarter. HighTower Advisors LLC now owns 14,610 shares of the financial services provider’s stock valued at $384,000 after buying an additional 688 shares during the period. AQR Capital Management LLC grew its holdings in Arrow Financial by 31.0% during the first quarter. AQR Capital Management LLC now owns 12,470 shares of the financial services provider’s stock worth $328,000 after buying an additional 2,949 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Arrow Financial by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,796 shares of the financial services provider’s stock valued at $258,000 after purchasing an additional 390 shares during the last quarter. Jane Street Group LLC increased its stake in Arrow Financial by 131.3% in the 1st quarter. Jane Street Group LLC now owns 27,272 shares of the financial services provider’s stock valued at $717,000 after buying an additional 15,482 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Arrow Financial during the first quarter worth $311,000. 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, 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.