Raymond F. O'conor Sells 2,000 Shares of Arrow Financial Co. (NASDAQ:AROW) Stock

Arrow Financial Co. (NASDAQ:AROW - Get Free Report) Director Raymond F. O'conor sold 2,000 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $28.85, for a total value of $57,700.00. Following the completion of the sale, the director now directly owns 35,859 shares of the company's stock, valued at $1,034,532.15. The trade was a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Arrow Financial Stock Performance

Arrow Financial stock traded down $0.10 during mid-day trading on Friday, reaching $27.70. 38,323 shares of the company were exchanged, compared to its average volume of 40,562. The firm has a market cap of $463.67 million, a PE ratio of 14.13 and a beta of 0.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.93 and a current ratio of 0.93. The firm's 50-day simple moving average is $31.09 and its two-hundred day simple moving average is $29.31. Arrow Financial Co. has a twelve month low of $21.50 and a twelve month high of $34.63.

Arrow Financial (NASDAQ:AROW - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. The firm had revenue of $57.58 million during the quarter. Arrow Financial had a return on equity of 8.59% and a net margin of 15.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AROW. BNP Paribas Financial Markets boosted its holdings in Arrow Financial by 13.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider's stock valued at $99,000 after purchasing an additional 398 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Arrow Financial in the 3rd quarter valued at approximately $164,000. Carl P. Sherr & Co. LLC purchased a new stake in shares of Arrow Financial in the third quarter valued at approximately $216,000. Atria Investments Inc grew its holdings in Arrow Financial by 32.6% during the third quarter. Atria Investments Inc now owns 16,856 shares of the financial services provider's stock worth $483,000 after acquiring an additional 4,148 shares during the period. Finally, Private Advisor Group LLC raised its position in Arrow Financial by 74.1% in the second quarter. Private Advisor Group LLC now owns 19,934 shares of the financial services provider's stock worth $519,000 after acquiring an additional 8,483 shares in the last quarter. 46.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.