Arrow Financial (NASDAQ:AROW) Stock Passes Below 200 Day Moving Average – Should You Sell?

Arrow Financial Corporation (NASDAQ:AROW) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $26.83 and traded as low as $26.59. Arrow Financial shares last traded at $26.90, with a volume of 30,658 shares changing hands.

Analysts Set New Price Targets

AROW has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Arrow Financial in a report on Wednesday, October 8th. Hovde Group raised their price target on Arrow Financial from $27.50 to $28.50 and gave the company a “market perform” rating in a report on Friday, July 25th. Finally, Wall Street Zen raised Arrow Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Arrow Financial presently has a consensus rating of “Hold” and a consensus target price of $28.25.

Arrow Financial Trading Up 0.3%

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 stock has a fifty day simple moving average of $28.40 and a 200 day simple moving average of $26.83. The firm has a market capitalization of $443.02 million, a P/E ratio of 14.70 and a beta of 0.79.

Arrow Financial (NASDAQ:AROW) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.08. Arrow Financial had a return on equity of 8.64% and a net margin of 13.28%.The firm had revenue of $51.57 million for the quarter, compared to analysts’ expectations of $39.83 million. As a group, research analysts forecast that Arrow Financial Corporation will post 2.65 EPS for the current year.

Insider Activity

In other news, CFO Penko Krassimir Ivanov bought 5,000 shares of Arrow Financial stock in a transaction dated Wednesday, September 10th. The shares were purchased at an average cost of $29.10 per share, with a total value of $145,500.00. Following the completion of the acquisition, the chief financial officer owned 24,744 shares of the company’s stock, valued at $720,050.40. This trade represents a 25.32% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought 18,425 shares of company stock valued at $536,783 over the last quarter. Insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Arrow Financial

Several large investors have recently made changes to their positions in AROW. BNP Paribas Financial Markets increased its holdings in shares of Arrow Financial by 67.2% in the second quarter. BNP Paribas Financial Markets now owns 1,612 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 648 shares during the last quarter. CWM LLC increased its holdings in shares of Arrow Financial by 159.5% in the third quarter. CWM LLC now owns 1,754 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 1,078 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Arrow Financial by 306.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,390 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 1,802 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Arrow Financial during the second quarter worth approximately $198,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Arrow Financial by 4.1% during 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 acquiring an additional 390 shares during the last quarter. 46.71% of the stock is owned by institutional investors.

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.