Arrow Financial (NASDAQ:AROW) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Arrow Financial (NASDAQ:AROW – Get Rating) in a research note released on Thursday morning. The firm issued a hold rating on the financial services provider’s stock.

Arrow Financial Stock Performance

Shares of NASDAQ:AROW opened at $26.21 on Thursday. The company has a market cap of $433.25 million, a price-to-earnings ratio of 8.87 and a beta of 0.68. The company has a 50-day moving average price of $31.10 and a 200-day moving average price of $32.29. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. Arrow Financial has a 12 month low of $25.47 and a 12 month high of $36.51.

Arrow Financial (NASDAQ:AROW – Get Rating) last issued its quarterly earnings data on Monday, January 30th. The financial services provider reported $0.73 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.07). The firm had revenue of $43.07 million for the quarter, compared to the consensus estimate of $39.09 million. Arrow Financial had a net margin of 30.40% and a return on equity of 13.82%. As a group, equities analysts anticipate that Arrow Financial will post 3.18 EPS for the current year.

Arrow Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Friday, March 3rd were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date was Thursday, March 2nd. Arrow Financial’s payout ratio is currently 36.54%.

Insider Buying and Selling

In related news, Director Gary C. Dake purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The stock was bought at an average cost of $27.57 per share, with a total value of $27,570.00. Following the completion of the purchase, the director now directly owns 46,329 shares in the company, valued at $1,277,290.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 4,500 shares of company stock valued at $148,989 over the last three months. Corporate insiders own 4.19% of the company’s stock.

Hedge Funds Weigh In On Arrow Financial

A number of institutional investors have recently bought and sold shares of AROW. Great West Life Assurance Co. Can bought a new position in Arrow Financial in the third quarter worth about $27,000. Ensign Peak Advisors Inc bought a new position in shares of Arrow Financial during the third quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC bought a new position in shares of Arrow Financial during the fourth quarter valued at approximately $40,000. Tower Research Capital LLC TRC increased its stake in shares of Arrow Financial by 236.8% during the third quarter. Tower Research Capital LLC TRC now owns 2,570 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 1,807 shares in the last quarter. Finally, MinichMacGregor Wealth Management LLC bought a new position in shares of Arrow Financial during the fourth quarter valued at approximately $87,000. 44.18% of the stock is owned by institutional investors.

About Arrow Financial

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Arrow Financial Corp. is a bank holding company, which engages in the provision of banking and insurance services through its subsidiaries, Glens Falls National and Saratoga National. It offers deposit accounts, lending activities, insurance products, and loans. The company was founded on March 21, 1983 and is headquartered in Glens Falls, NY.