Arrow Financial Co. (NASDAQ:AROW) Sees Large Decrease in Short Interest

Arrow Financial Co. (NASDAQ:AROW - Get Free Report) saw a significant drop in short interest in January. As of January 15th, there was short interest totalling 105,500 shares, a drop of 15.2% from the December 31st total of 124,400 shares. Based on an average daily trading volume, of 43,500 shares, the short-interest ratio is presently 2.4 days.

Arrow Financial Trading Down 1.7 %

Shares of NASDAQ:AROW traded down $0.45 on Friday, hitting $26.61. The company had a trading volume of 44,507 shares, compared to its average volume of 35,430. The firm's 50-day simple moving average is $29.23 and its two-hundred day simple moving average is $29.49. The firm has a market capitalization of $445.42 million, a price-to-earnings ratio of 13.58 and a beta of 0.77. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. Arrow Financial has a 1 year low of $21.50 and a 1 year high of $34.63.

Arrow Financial (NASDAQ:AROW - Get Free Report) last announced 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 15.00% and a return on equity of 8.59%. Equities analysts anticipate that Arrow Financial will post 2.11 earnings per share for the current fiscal year.

Arrow Financial Increases Dividend

The business also recently declared a dividend, which will be paid on Monday, February 24th. Stockholders of record on Tuesday, February 11th will be issued a dividend of $0.28 per share. The ex-dividend date is Monday, February 10th. This is an increase from Arrow Financial's previous dividend of $0.25. This represents a dividend yield of 4.21%. Arrow Financial's dividend payout ratio (DPR) is presently 63.28%.

Wall Street Analyst Weigh In

AROW has been the subject of several research analyst reports. Hovde Group dropped their price target on Arrow Financial from $34.50 to $32.00 and set a "market perform" rating for the company in a research note on Friday, December 27th. Piper Sandler assumed coverage on Arrow Financial in a research note on Friday, December 20th. They issued a "neutral" rating and a $32.00 price target on the stock.

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 that occurred 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 completion of the transaction, the director now owns 37,859 shares of the company's stock, valued at $1,237,610.71. The trade was a 5.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 6,000 shares of company stock worth $180,080. Corporate insiders own 3.55% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its stake in shares of Arrow Financial by 13.0% in the third quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider's stock worth $99,000 after purchasing an additional 398 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Arrow Financial during the 3rd quarter worth $164,000. Carl P. Sherr & Co. LLC bought a new stake in Arrow Financial during the third quarter valued at about $216,000. Atria Investments Inc grew its stake in shares of Arrow Financial by 32.6% during the 3rd quarter. Atria Investments Inc now owns 16,856 shares of the financial services provider's stock valued at $483,000 after acquiring an additional 4,148 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Arrow Financial by 137.8% in the third quarter. JPMorgan Chase & Co. now owns 18,702 shares of the financial services provider's stock worth $536,000 after purchasing an additional 10,838 shares in the last quarter. 46.71% of the stock is owned by hedge funds and other institutional investors.

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.