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

Arrow Financial Co. (NASDAQ:AROW - Get Free Report) Director Raymond F. O'conor sold 2,000 shares of Arrow Financial stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $25.28, for a total transaction of $50,560.00. Following the sale, the director now directly owns 35,022 shares in the company, valued at $885,356.16. This trade represents a 5.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Arrow Financial Stock Up 0.6 %

Arrow Financial stock traded up $0.17 during midday trading on Thursday, hitting $27.50. The stock had a trading volume of 31,885 shares, compared to its average volume of 40,929. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average price of $28.85 and a 200 day moving average price of $29.43. Arrow Financial Co. has a 12 month low of $21.50 and a 12 month high of $34.63. The stock has a market cap of $460.32 million, a P/E ratio of 15.54 and a beta of 0.76.

Arrow Financial (NASDAQ:AROW - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.47 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.12). Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%. Research analysts predict that Arrow Financial Co. will post 2.7 EPS for the current year.

Arrow Financial Increases Dividend

The business 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 dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.07%. This is a boost from Arrow Financial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, February 10th. Arrow Financial's dividend payout ratio is presently 63.28%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AROW shares. Piper Sandler reduced their price target on Arrow Financial from $32.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday. Hovde Group decreased 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.

Institutional Trading of Arrow Financial

Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in shares of Arrow Financial during the fourth quarter worth about $1,072,000. Atria Investments Inc grew its position 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 purchasing an additional 2,912 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Arrow Financial by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 126,779 shares of the financial services provider's stock valued at $3,640,000 after purchasing an additional 786 shares during the period. Rhumbline Advisers lifted its holdings in Arrow Financial by 5.6% in the fourth quarter. Rhumbline Advisers now owns 26,162 shares of the financial services provider's stock worth $751,000 after purchasing an additional 1,392 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Arrow Financial by 18.5% in the fourth quarter. SG Americas Securities LLC now owns 6,765 shares of the financial services provider's stock valued at $194,000 after acquiring an additional 1,056 shares in the last quarter. Institutional investors own 46.71% of the company's stock.

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 enhancement to commercial properties, as well as commercial construction and land development loans to finance projects.