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

Arrow Financial Co. (NASDAQ:AROW - Get Free Report) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 124,400 shares, a growth of 8.3% from the December 15th total of 114,900 shares. Based on an average trading volume of 41,800 shares, the days-to-cover ratio is currently 3.0 days.

Insider Activity at Arrow Financial

In related news, Director Raymond F. O'conor sold 2,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $32.69, for a total transaction of $65,380.00. Following the transaction, the director now owns 37,859 shares in the company, valued at $1,237,610.71. This represents a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 6,000 shares of company stock valued at $180,080. 3.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arrow Financial

A number of institutional investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its stake in Arrow Financial by 6.4% in the 2nd quarter. Rhumbline Advisers now owns 24,650 shares of the financial services provider's stock worth $642,000 after purchasing an additional 1,485 shares during the period. American Century Companies Inc. boosted its position in shares of Arrow Financial by 13.7% during the second quarter. American Century Companies Inc. now owns 266,651 shares of the financial services provider's stock worth $6,946,000 after acquiring an additional 32,158 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Arrow Financial by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 700,253 shares of the financial services provider's stock worth $18,241,000 after acquiring an additional 31,268 shares during the last quarter. SG Americas Securities LLC purchased a new position in Arrow Financial during the third quarter valued at $164,000. Finally, Private Advisor Group LLC increased its holdings in Arrow Financial by 26.7% in the 3rd quarter. Private Advisor Group LLC now owns 25,257 shares of the financial services provider's stock valued at $724,000 after acquiring an additional 5,323 shares during the last quarter. Hedge funds and other institutional investors own 46.71% of the company's stock.

Wall Street Analysts Forecast Growth

AROW has been the topic of a number of research reports. Piper Sandler initiated 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. Hovde Group dropped their target price on Arrow Financial from $34.50 to $32.00 and set a "market perform" rating on the stock in a research report on Friday, December 27th.

Arrow Financial Stock Performance

Shares of AROW stock traded up $0.11 during trading hours on Monday, reaching $27.39. 27,662 shares of the company traded hands, compared to its average volume of 36,743. The firm has a 50-day moving average price of $30.41 and a 200 day moving average price of $29.48. The company has a market cap of $458.48 million, a P/E ratio of 13.97 and a beta of 0.77. Arrow Financial has a 12-month low of $21.50 and a 12-month high of $34.63. 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 results on Thursday, October 31st. The financial services provider reported $0.53 earnings per share for the quarter, hitting analysts' consensus estimates of $0.53. The business had revenue of $57.58 million during the quarter. Arrow Financial had a net margin of 15.00% and a return on equity of 8.59%. As a group, sell-side analysts predict that Arrow Financial will post 2.11 earnings per share for the current fiscal year.

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.