Arrow Financial Co. (NASDAQ:AROW - Get Free Report) Director Daniel James White purchased 3,668 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average price of $27.23 per share, for a total transaction of $99,879.64. Following the completion of the purchase, the director now directly owns 4,338 shares in the company, valued at $118,123.74. This represents a 547.46 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Arrow Financial Stock Performance
AROW stock traded up $0.17 during trading on Thursday, hitting $27.50. The company had a trading volume of 31,885 shares, compared to its average volume of 40,929. The firm has a 50-day moving average price of $28.85 and a 200-day moving average price of $29.43. 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 firm has a market cap of $460.32 million, a PE ratio of 15.54 and a beta of 0.76. Arrow Financial Co. has a 1-year low of $21.50 and a 1-year high of $34.63.
Arrow Financial (NASDAQ:AROW - Get Free Report) last issued its earnings results on Thursday, January 30th. The financial services provider reported $0.47 earnings per share (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 13.32%. On average, analysts expect that Arrow Financial Co. will post 2.7 earnings per share for the current year.
Arrow Financial Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 10th will be given a $0.28 dividend. The ex-dividend date of this dividend is Monday, February 10th. This is a positive change from Arrow Financial's previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a dividend yield of 4.07%. Arrow Financial's dividend payout ratio is currently 63.28%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of AROW. Raymond James Financial Inc. purchased a new stake in Arrow Financial during the 4th quarter worth about $1,072,000. Atria Investments Inc boosted its stake in Arrow Financial by 17.3% in the 4th quarter. Atria Investments Inc now owns 19,768 shares of the financial services provider's stock worth $568,000 after buying an additional 2,912 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Arrow Financial by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 126,779 shares of the financial services provider's stock worth $3,640,000 after buying an additional 786 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Arrow Financial by 5.6% during the 4th quarter. Rhumbline Advisers now owns 26,162 shares of the financial services provider's stock valued at $751,000 after acquiring an additional 1,392 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Arrow Financial by 18.5% during the 4th quarter. SG Americas Securities LLC now owns 6,765 shares of the financial services provider's stock worth $194,000 after acquiring an additional 1,056 shares during the period. 46.71% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
AROW has been the subject of several research reports. Piper Sandler reduced their target price on Arrow Financial from $32.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday. Hovde Group reduced their price target on shares of Arrow Financial from $34.50 to $32.00 and set a "market perform" rating for the company in a research report on Friday, December 27th.
Check Out Our Latest Stock Report on Arrow Financial
About Arrow Financial
(
Get Free Report)
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.
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