Arrow Financial (NASDAQ:AROW) Raised to “Hold” at Zacks Research

Arrow Financial (NASDAQ:AROW) was upgraded by equities researchers at Zacks Research to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Piper Sandler assumed coverage on Arrow Financial in a report on Friday. They set an “overweight” rating and a $43.00 price target on the stock. Weiss Ratings upgraded Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Finally, Wall Street Zen lowered Arrow Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.75.

Arrow Financial Trading Down 0.7%

Shares of AROW stock opened at $38.88 on Monday. The stock’s fifty day moving average is $36.72 and its two-hundred day moving average is $34.25. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $642.69 million, a P/E ratio of 12.58 and a beta of 0.77. Arrow Financial has a fifty-two week low of $24.57 and a fifty-two week high of $40.29.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.85 earnings per share for the quarter, beating 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 return on equity of 12.38% and a net margin of 20.72%. Research analysts expect that Arrow Financial will post 3.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in Arrow Financial by 16.5% in the 1st quarter. Bank of America Corp DE now owns 32,696 shares of the financial services provider’s stock valued at $1,098,000 after buying an additional 4,641 shares during the period. Quantinno Capital Management LP raised its holdings in Arrow Financial by 17.0% in the 1st quarter. Quantinno Capital Management LP now owns 30,989 shares of the financial services provider’s stock valued at $1,040,000 after buying an additional 4,510 shares during the period. Lazard Asset Management LLC purchased a new stake in Arrow Financial in the 1st quarter valued at about $995,000. Arrowstreet Capital Limited Partnership raised its holdings in Arrow Financial by 71.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 114,449 shares of the financial services provider’s stock valued at $3,842,000 after buying an additional 47,752 shares during the period. Finally, Sei Investments Co. purchased a new stake in Arrow Financial in the 1st quarter valued at about $628,000. Hedge funds and other institutional investors 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.