Arrow Financial Corporation (NASDAQ:AROW) Stock Has Consensus Target Price of $41.62 According to Analysts

Shares of Arrow Financial Corporation (NASDAQ:AROW) have earned an average rating of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $41.62.

AROW has been the subject of several research analyst reports. Piper Sandler restated an “overweight” rating and set a $46.00 price target (up from $43.00) on shares of Arrow Financial in a research report on Tuesday, July 28th. Raymond James Financial started coverage on Arrow Financial in a report on Tuesday, September 1st. They issued an “outperform” rating and a $44.00 price objective on the stock. Keefe, Bruyette & Woods began coverage on Arrow Financial in a research note on Thursday, June 25th. They set a “market perform” rating and a $42.00 target price on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Arrow Financial in a report on Friday, July 24th. Finally, Zacks Research raised Arrow Financial to a “hold” rating in a research report on Monday, June 15th.

Arrow Financial Stock Performance

Shares of AROW stock opened at $37.38 on Friday. The firm’s 50 day moving average price is $38.64 and its 200-day moving average price is $37.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.92 and a current ratio of 0.92. Arrow Financial has a one year low of $25.88 and a one year high of $42.70. The firm has a market cap of $692.28 million, a P/E ratio of 12.06 and a beta of 0.76.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.14). The company had revenue of $44.19 million for the quarter, compared to analysts’ expectations of $45.51 million. Arrow Financial had a return on equity of 12.13% and a net margin of 20.56%. As a group, equities research analysts predict that Arrow Financial will post 3.53 EPS for the current year.

Arrow Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $1.20 annualized dividend and a dividend yield of 3.2%. Arrow Financial’s dividend payout ratio (DPR) is presently 38.71%.

Institutional Investors Weigh In On Arrow Financial

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Arrow Financial during the 2nd quarter worth approximately $57,377,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Arrow Financial in the 2nd quarter valued at approximately $4,995,000. Bank of New York Mellon Corp acquired a new stake in shares of Arrow Financial in the 2nd quarter valued at $3,663,000. Trust Co. of Vermont acquired a new stake in shares of Arrow Financial in the 2nd quarter valued at $2,228,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of 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 purchasing an additional 47,752 shares in the last quarter. 46.71% of the stock is owned by hedge funds and other institutional investors.

About Arrow Financial

Arrow Financial Corporation is a bank holding company headquartered in Glens Falls, New York. Through its banking subsidiaries, including Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company, the company provides financial services to individuals, families, businesses, municipalities and nonprofit organizations.

Arrow’s principal offerings include checking and savings accounts, certificates of deposit, residential and commercial mortgages, consumer and business loans, credit products, cash-management services and online banking.