Arrow Financial (NASDAQ:AROW) Price Target Raised to $34.50

Arrow Financial (NASDAQ:AROW) had its price objective hoisted by Hovde Group from $33.50 to $34.50 in a report issued on Monday morning, Marketbeat.com reports. Hovde Group currently has a market perform rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. Wall Street Zen downgraded Arrow Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Arrow Financial in a report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $31.25.

Arrow Financial Trading Up 1.3%

NASDAQ AROW opened at $35.90 on Monday. Arrow Financial has a 52 week low of $22.72 and a 52 week high of $36.40. The company has a 50 day moving average price of $32.19 and a 200 day moving average price of $29.72. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. The firm has a market cap of $590.20 million, a PE ratio of 13.55 and a beta of 0.82.

Arrow Financial (NASDAQ:AROW) last announced its earnings results on Thursday, January 29th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.04. The company had revenue of $43.65 million during the quarter, compared to the consensus estimate of $43.40 million. Arrow Financial had a net margin of 18.12% and a return on equity of 10.92%. As a group, sell-side analysts forecast that Arrow Financial will post 2.65 EPS for the current fiscal year.

Arrow Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, February 11th. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a dividend yield of 3.3%. Arrow Financial’s dividend payout ratio (DPR) is 43.77%.

Insider Transactions at Arrow Financial

In other Arrow Financial news, CEO David S. Demarco purchased 3,035 shares of Arrow Financial stock in a transaction on Wednesday, December 24th. The stock was bought at an average cost of $31.78 per share, with a total value of $96,452.30. Following the transaction, the chief executive officer owned 3,035 shares of the company’s stock, valued at $96,452.30. This represents a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel James White acquired 1,644 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were acquired at an average price of $30.14 per share, with a total value of $49,550.16. Following the completion of the purchase, the director owned 6,890 shares in the company, valued at approximately $207,664.60. This trade represents a 31.34% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC lifted its position in Arrow Financial by 31.0% during the first quarter. AQR Capital Management LLC now owns 12,470 shares of the financial services provider’s stock valued at $328,000 after purchasing an additional 2,949 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Arrow Financial by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,796 shares of the financial services provider’s stock valued at $258,000 after buying an additional 390 shares during the period. Jane Street Group LLC boosted its stake in shares of Arrow Financial by 131.3% in the first quarter. Jane Street Group LLC now owns 27,272 shares of the financial services provider’s stock worth $717,000 after buying an additional 15,482 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Arrow Financial during the first quarter worth about $311,000. Finally, Johnson Investment Counsel Inc. raised its position in Arrow Financial by 0.9% during the second quarter. Johnson Investment Counsel Inc. now owns 59,622 shares of the financial services provider’s stock valued at $1,575,000 after acquiring an additional 520 shares in the last quarter. Hedge funds and other institutional investors own 46.71% of the company’s stock.

Arrow Financial Company Profile

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.