Arrow Financial Co. (NASDAQ:AROW - Get Free Report) was the recipient of a significant decline in short interest in November. As of November 30th, there was short interest totalling 125,300 shares, a decline of 6.2% from the November 15th total of 133,600 shares. Based on an average daily trading volume, of 39,300 shares, the short-interest ratio is presently 3.2 days.
Insiders Place Their Bets
In other news, Director Raymond F. O'conor sold 2,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $28.50, for a total value of $57,000.00. Following the completion of the transaction, the director now directly owns 39,496 shares of the company's stock, valued at approximately $1,125,636. This represents a 4.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 6,000 shares of company stock worth $178,460 over the last 90 days. Corporate insiders own 3.55% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in AROW. BNP Paribas Financial Markets increased its position in Arrow Financial by 13.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider's stock valued at $99,000 after acquiring an additional 398 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Arrow Financial in the third quarter valued at approximately $164,000. IFG Advisory LLC bought a new position in Arrow Financial in the 2nd quarter worth approximately $207,000. Carl P. Sherr & Co. LLC acquired a new position in Arrow Financial during the 3rd quarter worth $216,000. Finally, Atria Investments Inc boosted its position in Arrow Financial by 32.6% in the 3rd quarter. Atria Investments Inc now owns 16,856 shares of the financial services provider's stock valued at $483,000 after buying an additional 4,148 shares during the last quarter. 46.71% of the stock is owned by institutional investors.
Arrow Financial Price Performance
NASDAQ:AROW traded up $0.65 on Monday, reaching $31.78. The stock had a trading volume of 83,456 shares, compared to its average volume of 41,824. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $531.97 million, a P/E ratio of 15.91 and a beta of 0.75. Arrow Financial has a 1-year low of $21.50 and a 1-year high of $34.63. The stock has a fifty day moving average price of $31.00 and a 200-day moving average price of $28.93.
Arrow Financial (NASDAQ:AROW - Get Free Report) last announced its earnings results on Thursday, October 31st. The financial services provider reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. Arrow Financial had a return on equity of 8.59% and a net margin of 15.00%. The business had revenue of $57.58 million for the quarter.
Arrow Financial Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.52%. The ex-dividend date was Tuesday, October 15th. This is a boost from Arrow Financial's previous quarterly dividend of $0.27. Arrow Financial's dividend payout ratio is presently 57.14%.
Analyst Ratings Changes
Separately, Hovde Group assumed coverage on Arrow Financial in a research note on Monday, September 9th. They set a "market perform" rating and a $31.00 price objective for the company.
Check Out Our Latest Report on Arrow Financial
Arrow Financial Company Profile
(
Get Free Report)
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.
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