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 that occurred on Tuesday, April 1st. The stock was sold at an average price of $25.94, for a total value of $51,880.00. Following the completion of the sale, the director now directly owns 31,022 shares in the company, valued at approximately $804,710.68. This trade represents a 6.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Arrow Financial Stock Performance

Shares of NASDAQ AROW traded down $0.42 during midday trading on Friday, reaching $24.11. 55,674 shares of the company traded hands, compared to its average volume of 40,977. Arrow Financial Co. has a 52 week low of $21.50 and a 52 week high of $34.63. The company has a market cap of $403.07 million, a price-to-earnings ratio of 13.62 and a beta of 0.73. The stock has a 50-day moving average price of $26.53 and a 200 day moving average price of $28.58. 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 posted 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 net margin of 13.32% and a return on equity of 8.59%. Sell-side analysts anticipate that Arrow Financial Co. will post 2.65 earnings per share for the current fiscal year.

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 paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.12 annualized dividend and a yield of 4.65%. This is a boost from Arrow Financial's previous quarterly dividend of $0.25. Arrow Financial's dividend payout ratio (DPR) is currently 63.28%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AROW shares. Hovde Group dropped their price objective 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 cut their price target on Arrow Financial from $32.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, February 4th.

Institutional Investors Weigh In On Arrow Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in shares of Arrow Financial by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 736,569 shares of the financial services provider's stock worth $21,147,000 after purchasing an additional 12,798 shares during the last quarter. State Street Corp grew its position in Arrow Financial by 0.3% in the third quarter. State Street Corp now owns 393,719 shares of the financial services provider's stock worth $11,284,000 after buying an additional 1,022 shares during the last quarter. American Century Companies Inc. grew its position in Arrow Financial by 4.3% in the fourth quarter. American Century Companies Inc. now owns 304,964 shares of the financial services provider's stock worth $8,756,000 after buying an additional 12,581 shares during the last quarter. Rhino Investment Partners Inc bought a new position in shares of Arrow Financial in the fourth quarter valued at $5,458,000. Finally, Voya Investment Management LLC lifted its position in shares of Arrow Financial by 15.5% during the 4th quarter. Voya Investment Management LLC now owns 178,680 shares of the financial services provider's stock valued at $5,130,000 after acquiring an additional 24,036 shares during the last quarter. 46.71% of the stock is currently 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.