Arrow Financial Co. (NASDAQ:AROW) Declares Dividend of $0.28

Arrow Financial Co. (NASDAQ:AROW - Get Free Report) announced a dividend on Saturday, February 1st,investing.com reports. Shareholders of record on Tuesday, February 11th will be paid a dividend of 0.28 per share by the financial services provider on Monday, February 24th. This represents a yield of 4.21%. The ex-dividend date is Monday, February 10th. This is an increase from Arrow Financial's previous dividend of $0.25.

Arrow Financial has increased its dividend by an average of 4.4% annually over the last three years. Arrow Financial has a payout ratio of 37.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Arrow Financial to earn $2.70 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 41.5%.

Arrow Financial Stock Performance

Shares of NASDAQ AROW traded down $0.45 during mid-day trading on Friday, hitting $26.61. The company had a trading volume of 44,507 shares, compared to its average volume of 35,430. Arrow Financial has a 12 month low of $21.50 and a 12 month high of $34.63. The firm has a market cap of $445.42 million, a P/E ratio of 13.58 and a beta of 0.77. The business's 50-day simple moving average is $29.23 and its 200-day simple moving average is $29.49. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.93.

Arrow Financial (NASDAQ:AROW - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.47 EPS for the quarter, missing analysts' consensus estimates of $0.59 by ($0.12). Arrow Financial had a return on equity of 8.59% and a net margin of 15.00%. As a group, analysts predict that Arrow Financial will post 2.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AROW shares. Hovde Group decreased their price target on shares of Arrow Financial from $34.50 to $32.00 and set a "market perform" rating on the stock in a research note on Friday, December 27th. Piper Sandler assumed coverage on shares of Arrow Financial in a research report on Friday, December 20th. They set a "neutral" rating and a $32.00 target price on the stock.

Insider Activity at Arrow Financial

In related news, Director Raymond F. O'conor sold 2,000 shares of Arrow Financial stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $32.69, for a total transaction of $65,380.00. Following the completion of the transaction, the director now directly owns 37,859 shares of the company's stock, valued at $1,237,610.71. This trade represents a 5.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 6,000 shares of company stock valued at $180,080 in the last 90 days. 3.55% of the stock is owned by corporate insiders.

Arrow Financial Company Profile

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.