Arrow Financial (NASDAQ:AROW) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Arrow Financial Corporation (NASDAQ:AROW)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $32.70 and traded as high as $37.34. Arrow Financial shares last traded at $37.07, with a volume of 52,364 shares trading hands.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Hovde Group raised their target price on shares of Arrow Financial from $33.50 to $34.50 and gave the company a “market perform” rating in a research report on Monday, February 2nd. Weiss Ratings upgraded shares of Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Finally, Wall Street Zen upgraded shares of Arrow Financial from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

Arrow Financial Trading Up 0.2%

The company has a market cap of $614.09 million, a price-to-earnings ratio of 12.02 and a beta of 0.78. The business’s fifty day moving average price is $34.60 and its 200 day moving average price is $32.70. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.92 and a quick ratio of 0.92.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.06. The company had revenue of $53.39 million for the quarter, compared to analyst estimates of $43.80 million. Arrow Financial had a net margin of 20.72% and a return on equity of 12.54%.

Arrow Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, May 12th. Arrow Financial’s payout ratio is 38.83%.

Hedge Funds Weigh In On Arrow Financial

A number of hedge funds have recently modified their holdings of AROW. Segall Bryant & Hamill LLC acquired a new position in shares of Arrow Financial during the fourth quarter worth $2,175,000. SummerHaven Investment Management LLC acquired a new position in shares of Arrow Financial during the third quarter worth $871,000. Millennium Management LLC acquired a new position in shares of Arrow Financial during the third quarter worth $834,000. Rhino Investment Partners Inc lifted its holdings in shares of Arrow Financial by 13.9% during the third quarter. Rhino Investment Partners Inc now owns 227,804 shares of the financial services provider’s stock worth $6,447,000 after purchasing an additional 27,856 shares during the period. Finally, Martingale Asset Management L P raised its stake in Arrow Financial by 114.3% during the fourth quarter. Martingale Asset Management L P now owns 48,909 shares of the financial services provider’s stock worth $1,536,000 after buying an additional 26,082 shares during the last quarter. Institutional investors and hedge funds own 46.71% of the company’s stock.

About Arrow Financial

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.