Arrow Financial (NASDAQ:AROW) Upgraded by BidaskClub to Hold

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BidaskClub upgraded shares of Arrow Financial (NASDAQ:AROW) from a sell rating to a hold rating in a research note issued to investors on Thursday morning, BidAskClub reports.

Shares of AROW opened at $35.78 on Thursday. Arrow Financial has a 1-year low of $30.45 and a 1-year high of $39.00. The stock has a market cap of $512.67 million, a PE ratio of 14.35 and a beta of 0.59. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a fifty day moving average price of $32.63 and a 200 day moving average price of $33.43.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.62 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.62. Arrow Financial had a net margin of 27.06% and a return on equity of 13.03%. The firm had revenue of $28.60 million during the quarter.

The business also recently declared a — dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 17th will be given a $3.00 dividend. The ex-dividend date is Monday, September 16th. This represents a yield of 3.2%.

In related news, SVP David S. Demarco sold 2,803 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $32.50, for a total value of $91,097.50. Following the completion of the sale, the senior vice president now directly owns 27,209 shares of the company’s stock, valued at $884,292.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP David S. Demarco sold 990 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $32.50, for a total transaction of $32,175.00. Following the completion of the sale, the senior vice president now directly owns 26,219 shares of the company’s stock, valued at $852,117.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,585 shares of company stock valued at $407,774. 4.02% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Arrow Financial in the first quarter valued at $214,000. BNP Paribas Arbitrage SA raised its holdings in shares of Arrow Financial by 460.3% in the first quarter. BNP Paribas Arbitrage SA now owns 2,555 shares of the financial services provider’s stock valued at $84,000 after buying an additional 2,099 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Arrow Financial by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 657,952 shares of the financial services provider’s stock valued at $21,068,000 after buying an additional 8,075 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Arrow Financial by 58.7% in the second quarter. Bessemer Group Inc. now owns 17,302 shares of the financial services provider’s stock valued at $601,000 after buying an additional 6,400 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Arrow Financial by 31.2% in the first quarter. Acadian Asset Management LLC now owns 16,617 shares of the financial services provider’s stock valued at $546,000 after buying an additional 3,947 shares during the last quarter. 40.70% of the stock is owned by hedge funds and other 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 improvements to commercial properties, as well as commercial construction and land development loans to finance projects.

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