StockNews.com cut shares of Arrow Financial (NASDAQ:AROW – Free Report) from a hold rating to a sell rating in a research note released on Wednesday.
Separately, Hovde Group assumed coverage on Arrow Financial in a research note on Tuesday, January 9th. They set a market perform rating on the stock.
Get Our Latest Research Report on AROW
Arrow Financial Trading Up 4.5 %
Arrow Financial (NASDAQ:AROW – Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The firm had revenue of $54.54 million for the quarter, compared to analysts’ expectations of $33.29 million. Arrow Financial had a return on equity of 8.21% and a net margin of 15.69%. On average, research analysts anticipate that Arrow Financial will post 2.33 EPS for the current year.
Arrow Financial Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 13th will be paid a $0.27 dividend. The ex-dividend date is Friday, May 10th. This represents a $1.08 annualized dividend and a dividend yield of 4.64%. Arrow Financial’s dividend payout ratio (DPR) is currently 60.87%.
Institutional Trading of Arrow Financial
Institutional investors have recently modified their holdings of the business. CWM LLC boosted its stake in shares of Arrow Financial by 226.1% in the third quarter. CWM LLC now owns 1,562 shares of the financial services provider’s stock valued at $27,000 after buying an additional 1,083 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Arrow Financial by 136.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,630 shares of the financial services provider’s stock valued at $28,000 after buying an additional 941 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Arrow Financial in the fourth quarter valued at approximately $29,000. Strs Ohio purchased a new stake in shares of Arrow Financial in the third quarter valued at approximately $40,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Arrow Financial in the fourth quarter valued at approximately $53,000. 46.71% of the stock is currently owned by hedge funds and other institutional investors.
About Arrow Financial
Arrow Financial Corporation, a bank holding company, provides commercial and consumer banking, and financial products and services. The company's deposit products include demand deposits, interest-bearing checking accounts, savings deposits, time deposits, and other time deposits. Its lending activities comprise commercial loans, such as term loans, time notes, and lines of credit; and commercial real estate loans to finance real estate purchases, refinancing, expansions, and enhancement to commercial properties, as well as commercial construction and land development loans to finance projects.
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