Arrow Financial (NASDAQ:AROW) Rating Increased to Strong-Buy at Piper Sandler

Arrow Financial (NASDAQ:AROW) was upgraded by research analysts at Piper Sandler to a “strong-buy” rating in a research note issued on Friday,Zacks.com reports.

AROW has been the topic of a number of other reports. Wall Street Zen lowered Arrow Financial from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings upgraded shares of Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Arrow Financial has an average rating of “Buy” and a consensus price target of $38.75.

Arrow Financial Stock Performance

NASDAQ:AROW opened at $39.86 on Friday. The firm has a 50-day moving average of $36.52 and a two-hundred day moving average of $34.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $658.89 million, a P/E ratio of 12.90 and a beta of 0.77. Arrow Financial has a 1-year low of $24.57 and a 1-year high of $39.90.

Arrow Financial (NASDAQ:AROW) last announced its earnings results on Thursday, April 30th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.06. Arrow Financial had a return on equity of 12.38% and a net margin of 20.72%.The business had revenue of $53.39 million for the quarter, compared to analyst estimates of $43.80 million.

Institutional Investors Weigh In On Arrow Financial

Institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC lifted its stake 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 purchasing an additional 2,949 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Arrow Financial by 4.1% during 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 raised its holdings in shares of Arrow Financial by 131.3% during the first quarter. Jane Street Group LLC now owns 27,272 shares of the financial services provider’s stock worth $717,000 after purchasing an additional 15,482 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Arrow Financial during the first quarter worth $311,000. Finally, Rhumbline Advisers lifted its position in shares of Arrow Financial by 1.5% in the 2nd quarter. Rhumbline Advisers now owns 25,307 shares of the financial services provider’s stock worth $669,000 after buying an additional 367 shares during the last quarter. 46.71% of the stock is currently owned by 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.