Arrow Financial (NASDAQ:AROW) Releases Earnings Results, Misses Expectations By $0.12 EPS

Arrow Financial (NASDAQ:AROW - Get Free Report) issued its earnings results on Thursday. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.12), Zacks reports. Arrow Financial had a return on equity of 8.59% and a net margin of 15.00%.

Arrow Financial Price Performance

Shares of Arrow Financial stock traded down $0.45 during trading hours on Friday, reaching $26.61. The stock had a trading volume of 44,507 shares, compared to its average volume of 35,430. Arrow Financial has a twelve month low of $21.50 and a twelve month high of $34.63. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $445.42 million, a PE ratio of 13.58 and a beta of 0.77. The stock's 50 day moving average is $29.23 and its 200 day moving average is $29.49.

Arrow Financial Increases Dividend

The company also recently disclosed a dividend, which will be paid on Monday, February 24th. Shareholders of record on Tuesday, February 11th will be issued a $0.28 dividend. This is a boost from Arrow Financial's previous dividend of $0.25. The ex-dividend date of this dividend is Monday, February 10th. This represents a yield of 4.21%. Arrow Financial's payout ratio is presently 63.28%.

Insider Activity

In related news, Director Raymond F. O'conor sold 2,000 shares of Arrow Financial stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $28.85, for a total value of $57,700.00. Following the sale, the director now owns 35,859 shares of the company's stock, valued at approximately $1,034,532.15. This trade represents a 5.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 6,000 shares of company stock worth $180,080 in the last ninety days. Company insiders own 3.55% of the company's stock.

Wall Street Analysts Forecast Growth

AROW has been the subject of a number of recent research reports. Piper Sandler began coverage on Arrow Financial in a research note on Friday, December 20th. They set a "neutral" rating and a $32.00 price objective for the company. Hovde Group reduced their price target on Arrow Financial from $34.50 to $32.00 and set a "market perform" rating for the company in a research report on Friday, December 27th.

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.