Arrow Financial (NASDAQ:AROW) Issues Earnings Results, Misses Expectations By $0.12 EPS

Arrow Financial (NASDAQ:AROW) announced its quarterly earnings results on Thursday. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.12), Zacks reports. Arrow Financial had a return on equity of 8.59% and a net margin of 15.00%.

Arrow Financial Price Performance

NASDAQ AROW traded down $0.74 during trading hours on Thursday, hitting $26.92. The company had a trading volume of 18,393 shares, compared to its average volume of 38,156. The firm has a 50 day simple moving average of $29.48 and a 200 day simple moving average of $29.52. Arrow Financial has a 52 week low of $21.50 and a 52 week high of $34.63. The firm has a market capitalization of $450.56 million, a price-to-earnings ratio of 13.73 and a beta of 0.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.93 and a current ratio of 0.93.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AROW. Piper Sandler began coverage on Arrow Financial in a report on Friday, December 20th. They set a “neutral” rating and a $32.00 price target for the company. Hovde Group cut their price target on shares of Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a report on Friday, December 27th.

Insiders Place Their Bets

In related news, Director Raymond F. O’conor sold 2,000 shares of Arrow Financial stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $28.85, for a total value of $57,700.00. Following the transaction, the director now owns 35,859 shares in the company, valued at $1,034,532.15. This trade represents a 5.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 6,000 shares of company stock worth $180,080 in the last three months. 3.55% of the stock is currently owned by corporate insiders.

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.