Arrow Financial Co. (NASDAQ:AROW) Short Interest Update

Arrow Financial Co. (NASDAQ:AROW - Get Free Report) was the recipient of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 114,900 shares, a drop of 8.3% from the November 30th total of 125,300 shares. Based on an average daily trading volume, of 38,900 shares, the days-to-cover ratio is currently 3.0 days.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AROW shares. Hovde Group cut 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 report on Friday. Piper Sandler started coverage on Arrow Financial in a research report on Friday, December 20th. They issued a "neutral" rating and a $32.00 price target for the company.

Insider Buying and Selling

In other Arrow Financial news, Director Raymond F. O'conor sold 2,000 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $32.69, for a total value of $65,380.00. Following the transaction, the director now directly owns 37,859 shares of the company's stock, valued at approximately $1,237,610.71. The trade was a 5.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.55% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AROW. American Century Companies Inc. boosted its stake in shares of Arrow Financial by 13.7% in the second quarter. American Century Companies Inc. now owns 266,651 shares of the financial services provider's stock valued at $6,946,000 after purchasing an additional 32,158 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Arrow Financial by 136.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,050 shares of the financial services provider's stock worth $1,578,000 after acquiring an additional 31,741 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Arrow Financial by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 700,253 shares of the financial services provider's stock valued at $18,241,000 after purchasing an additional 31,268 shares during the last quarter. Arrow Financial Corp grew its stake in Arrow Financial by 1.2% during 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 purchasing an additional 23,198 shares in the last quarter. Finally, Barclays PLC increased its holdings in Arrow Financial by 251.9% during the 3rd quarter. Barclays PLC now owns 21,411 shares of the financial services provider's stock worth $614,000 after purchasing an additional 15,327 shares during the last quarter. 46.71% of the stock is owned by hedge funds and other institutional investors.

Arrow Financial Price Performance

AROW stock traded up $0.16 during trading on Tuesday, hitting $28.71. The stock had a trading volume of 39,360 shares, compared to its average volume of 41,722. Arrow Financial has a 1-year low of $21.50 and a 1-year high of $34.63. The company's 50 day moving average price is $31.12 and its two-hundred day moving average price is $29.31. The stock has a market cap of $480.58 million, a price-to-earnings ratio of 14.65 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.

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

Arrow Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Tuesday, October 15th were issued a $0.28 dividend. This is a positive change from Arrow Financial's previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, October 15th. This represents a $1.12 annualized dividend and a yield of 3.90%. Arrow Financial's dividend payout ratio (DPR) is presently 57.14%.

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.