Arrow Financial (NASDAQ:AROW) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Arrow Financial Corporation (NASDAQ:AROW)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $33.03 and traded as high as $35.60. Arrow Financial shares last traded at $35.19, with a volume of 65,829 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AROW. Wall Street Zen lowered shares of Arrow Financial from a “buy” rating to a “hold” rating in a research report on Saturday. Hovde Group lifted their price target on shares of Arrow Financial from $33.50 to $34.50 and gave the company a “market perform” rating in a research report on Monday, February 2nd. Finally, Weiss Ratings raised shares of Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.50.

Arrow Financial Price Performance

The stock has a fifty day moving average of $34.85 and a 200-day moving average of $33.03. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $581.69 million, a P/E ratio of 11.39 and a beta of 0.78.

Arrow Financial (NASDAQ:AROW) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.06. Arrow Financial had a return on equity of 12.38% and a net margin of 20.72%.The business had revenue of $53.39 million during the quarter, compared to analysts’ expectations of $43.80 million.

Arrow Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, May 12th. This represents a $1.20 dividend on an annualized basis and a yield of 3.4%. Arrow Financial’s dividend payout ratio is presently 38.83%.

Institutional Trading of Arrow Financial

Institutional investors have recently bought and sold shares of the business. Arrow Financial Corp grew its holdings in Arrow Financial by 0.8% during the 4th quarter. Arrow Financial Corp now owns 1,871,735 shares of the financial services provider’s stock worth $58,772,000 after acquiring an additional 14,403 shares during the period. Vanguard Group Inc. grew its holdings in Arrow Financial by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 889,234 shares of the financial services provider’s stock worth $25,165,000 after acquiring an additional 17,050 shares during the period. Dimensional Fund Advisors LP grew its holdings in Arrow Financial by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 730,471 shares of the financial services provider’s stock worth $24,522,000 after acquiring an additional 1,937 shares during the period. Renaissance Technologies LLC grew its holdings in Arrow Financial by 1.2% during the 4th quarter. Renaissance Technologies LLC now owns 252,205 shares of the financial services provider’s stock worth $7,919,000 after acquiring an additional 2,917 shares during the period. Finally, Rhino Investment Partners Inc grew its holdings in Arrow Financial by 13.9% during the 3rd quarter. Rhino Investment Partners Inc now owns 227,804 shares of the financial services provider’s stock worth $6,447,000 after acquiring an additional 27,856 shares during the period. Institutional investors and hedge funds own 46.71% of the company’s stock.

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.