Arrow Financial (NASDAQ:AROW) Issues Quarterly Earnings Results

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

Arrow Financial Trading Down 3.3 %

Arrow Financial stock traded down $0.92 during mid-day trading on Thursday, hitting $26.74. 17,255 shares of the company’s stock were exchanged, compared to its average volume of 37,862. Arrow Financial has a fifty-two week low of $21.50 and a fifty-two week high of $34.63. The company’s 50 day simple moving average is $29.48 and its 200-day simple moving average is $29.52. The firm has a market capitalization of $447.54 million, a P/E ratio of 13.64 and a beta of 0.77. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06.

Wall Street Analysts Forecast Growth

AROW has been the topic of a number of recent analyst reports. Piper Sandler assumed coverage on Arrow Financial in a research note on Friday, December 20th. They issued a “neutral” rating and a $32.00 price objective on the stock. Hovde Group dropped their target price on Arrow Financial from $34.50 to $32.00 and set a “market perform” rating for the company in a research report on Friday, December 27th.

Insider Transactions at Arrow Financial

In other Arrow Financial news, Director Raymond F. O’conor sold 2,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $32.69, for a total transaction of $65,380.00. Following the completion of the sale, the director now owns 37,859 shares of the company’s stock, valued at $1,237,610.71. This trade represents a 5.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 6,000 shares of company stock worth $180,080 in the last three months. Insiders own 3.55% of the company’s stock.

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.