Arrow Financial (NASDAQ:AROW) Rating Lowered to “Hold” at Wall Street Zen

Arrow Financial (NASDAQ:AROW) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Other equities research analysts have also issued research reports about the company. Hovde Group upgraded Arrow Financial from a “market perform” rating to an “outperform” rating and increased their target price for the company from $28.50 to $33.50 in a research note on Friday, October 31st. Weiss Ratings restated a “hold (c+)” rating on shares of Arrow Financial in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Arrow Financial currently has a consensus rating of “Hold” and an average price target of $30.75.

Arrow Financial Stock Performance

NASDAQ:AROW opened at $31.30 on Friday. The firm’s fifty day simple moving average is $30.61 and its 200 day simple moving average is $28.75. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06. Arrow Financial has a twelve month low of $22.72 and a twelve month high of $33.56. The firm has a market capitalization of $514.57 million, a price-to-earnings ratio of 15.12 and a beta of 0.82.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.05. Arrow Financial had a return on equity of 9.46% and a net margin of 14.65%.The firm had revenue of $8.07 million during the quarter, compared to the consensus estimate of $41.00 million. As a group, equities research analysts expect that Arrow Financial will post 2.65 earnings per share for the current fiscal year.

Insider Activity at Arrow Financial

In other Arrow Financial news, Director Daniel James White bought 1,644 shares of Arrow Financial stock in a transaction dated Monday, November 10th. The stock was bought at an average cost of $30.14 per share, for a total transaction of $49,550.16. Following the purchase, the director owned 6,890 shares in the company, valued at $207,664.60. This represents a 31.34% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David S. Demarco purchased 3,035 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The shares were 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 directly owned 3,035 shares of the company’s stock, valued at approximately $96,452.30. This represents a ? increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 6,299 shares of company stock valued at $194,311. Insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its position in shares of Arrow Financial by 31.0% in the 1st quarter. AQR Capital Management LLC now owns 12,470 shares of the financial services provider’s stock worth $328,000 after purchasing an additional 2,949 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Arrow Financial by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,796 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 390 shares in the last quarter. Jane Street Group LLC increased its holdings in 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 valued at $717,000 after buying an additional 15,482 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Arrow Financial in the first quarter valued at about $311,000. Finally, Johnson Investment Counsel Inc. raised its stake 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 buying an additional 520 shares in the last quarter. 46.71% of the stock is currently owned by institutional investors.

About Arrow Financial

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.