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 the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $26.90, for a total value of $53,800.00. Following the transaction, the director now directly owns 33,022 shares of the company's stock, valued at approximately $888,291.80. This represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Arrow Financial Trading Up 0.5 %

Shares of AROW stock traded up $0.13 during mid-day trading on Friday, hitting $26.40. The company's stock had a trading volume of 23,172 shares, compared to its average volume of 39,242. The company's fifty day simple moving average is $27.03 and its 200-day simple moving average is $29.02. Arrow Financial Co. has a 52 week low of $21.50 and a 52 week high of $34.63. 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 company has a market cap of $441.91 million, a PE ratio of 14.92 and a beta of 0.76.

Arrow Financial (NASDAQ:AROW - Get Free Report) last issued its earnings results 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 net margin of 13.32% and a return on equity of 8.59%. As a group, equities research analysts expect that Arrow Financial Co. will post 2.65 earnings per share for the current fiscal year.

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Arrow Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 10th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 4.24%. This is a positive change from Arrow Financial's previous quarterly dividend of $0.25. The ex-dividend date was Monday, February 10th. Arrow Financial's payout ratio is presently 63.28%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AROW shares. Piper Sandler lowered their price objective on Arrow Financial from $32.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, February 4th. Hovde Group lowered their price objective on 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 and other institutional investors have recently added to or reduced their stakes in the company. Arrow Financial Corp increased its position in Arrow Financial by 1.2% in the 3rd quarter. Arrow Financial Corp now owns 1,969,793 shares of the financial services provider's stock valued at $56,454,000 after buying an additional 23,198 shares in the last quarter. Barclays PLC boosted its stake in Arrow Financial by 251.9% during the 3rd quarter. Barclays PLC now owns 21,411 shares of the financial services provider's stock valued at $614,000 after purchasing an additional 15,327 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Arrow Financial by 137.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,702 shares of the financial services provider's stock valued at $536,000 after purchasing an additional 10,838 shares during the last quarter. Trust Co. of Vermont boosted its stake in Arrow Financial by 49.5% during the 4th quarter. Trust Co. of Vermont now owns 57,365 shares of the financial services provider's stock valued at $1,647,000 after purchasing an additional 19,000 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Arrow Financial by 13.0% during 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 during the last quarter. 46.71% of the stock is owned by institutional investors.

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.